What is an Adjusted Gross Income?

Budget adjustment refers to the budget approved by the National People's Congress and the local budget approved by local people's congresses at all levels. In the implementation of special circumstances, it is necessary to increase expenditures or reduce revenues to balance the originally approved budget. The total expenditure exceeds the total income, or changes that increase the amount of borrowing debt in the originally approved budget. ^[1]

Budget adjustment

Refers to approved budgets at all levels. During implementation, due to special circumstances, it is necessary to increase expenditures or reduce revenues, so that the total expenditures of the originally approved revenue and expenditure budget exceed the total revenue, or increase the amount of borrowing debt in the originally approved budget. Partial changes. Budget (

Changes in the original budget budget and expenditure scale or revenue and expenditure items through legal procedures are the basic means of maintaining revenue and expenditure balance during budget implementation.

Budget adjustment is divided into comprehensive adjustment and partial adjustment. Comprehensive adjustment refers to a complete change in the budget. This change was caused by major changes in the country's political and economic situation, and was essentially a reorganization.

Refers to the budget funds formed by the transfer of budget expenditure subjects.

Increase or decrease of the total revenue and expenditure of the original budget. Additional budgetary recovery will cause the total budget revenue and expenditure to change, which is related to

Refers to the change in the affiliation or administrative division of an enterprise or institution during the implementation of the budget. When the affiliation of the budget needs to be changed accordingly, the original budget is assigned to the new leadership department or takeover unit, that is, the transfer of the budget relationship. After the affiliation of an enterprise or institution is changed,

Dispatch of budget funds between subordinate finances. Its purpose is to solve the problem of fiscal imbalances at various levels during the implementation of the budget. Budget transfers are limited to transfers between verticals, excluding transfers between regions, that is, horizontally. The economic development between regions is uneven, and the amount of income is very different.

Basic conditions for budget adjustment: major changes in market environment, operating conditions, policies and regulations, etc.

Governments at all levels shall prepare budget adjustment plans for the necessary budget adjustments.

The adjustment plan of the central budget must be submitted to the Standing Committee of the National People's Congress for review and approval. The budget adjustment plan of local governments at or above the county level must be submitted to the Standing Committee of the People's Congress at the corresponding level for review and approval; the budget adjustment plan of the township, nationality township, and township governments must be submitted to the People's Congress at the same level for review and approval. Without approval, the budget cannot be adjusted.