An estimate of income and expenditure for a set period of time. A budget is an assigned amount to be spent on a task. A budget belongs to a specific budget category.

Budgets can have the following statuses: Initial, Open or Closed. In its initial status, a budget can be marked as either an income or expenditure. Any changes on a budget can be done in the Initial status only. Once a budget is moved to the Open status, the changes can be registered only via Budget modifications. If a budget is moved from the initial status to another status, it is not possible to remove the budget.