ABSTRACT
The term rebudgeting applies when governments revise their approved budgets throughout the fiscal year in response to managerial necessities, shifting environmental conditions, and political forces. In recent decades increasing financial uncertainty and political instability have increased the frequency and scope of rebudgeting. In some cases rebudgeting represents a functional adaptation to changing circumstances. However, in other cases it may be a haphazard or ad hoc response that creates significant unintended consequences. Mid-year budget adjustments are a fact of life; so it is important to improve the ability of governments to make these modifications so that large-scale budgeting is not a process of trial and error.
