Accessed 22 Dec. 2020. Budget surplus. Budget Surplus vs Budget Deficit. The term often refers to a government's financial state, as individuals have "savings" rather … means the amount by which sums appropriated exceed actual expenditures and obligations for a fiscal year; obligations and expenditures are held below the level of actual receipts creating savings within the authorized budget. More generally, it is a budget that has no budget deficit, but could possibly have a budget surplus. A budget surplus is the opposite of a budget deficit which is where the government spends more than it brings in. With a budget surplus, the government can use the surplus revenue to pay off public sector debt. Post the Definition of budget surplus to Facebook, Share the Definition of budget surplus on Twitter. When a governmental entity has revenues from taxes, fees, and other impositions which exceed its budgeted outlays, it is said to have a budget surplus. the amount of extra money available to a government because it has spent less money than it earned: The government has projected a budget surplus of £7 billion by April. In other words, it receives more in taxes than it spends on defence, welfare, or education. Recent Examples on the Web: Noun When Schowalter left the Dayton administration in 2014, after 20 … Federal Surplus Definition. budget surplus Refers in general to an excess of income over expenditure , but usually refers specifically to the government budget , where it is the excess of tax revenue over expenditure (including transfer and interest payments). A budget surplus means that the budget is likely healthy, at least in the short-term, and that the government, company or individual it regards does not have to resort to borrowing. Budget surpluses are quite rare in modern economies because of the temptation for politicians to spend more money and cut taxes. : more money than is needed to pay for planned expenses The state currently has a $3 million budget surplus. View the pronunciation for surplus. "Budget surplus" and "budget deficit" are terms most commonly used to describe a government's financial picture. This term is most commonly used to refer to government spending, but it can also be applied to companies and individuals. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). Change your default dictionary to American English. A budget surplus occurs when income exceeds expenditures. budget surplus definition in English dictionary, budget surplus meaning, synonyms, see also 'Budget',budget for',budget account',budget deficit'. Compare balanced budget, budget deficit. Delivered to your inbox! Individuals prefer to call a surplus “savings.” When the economy is doing well, there is less demand for government services since more people are employed. It is an important tool of fiscal policy. Only eight times in the past 60 years has Britain's budget been in surplus. Define Budget surplus. This is the British English definition of surplus.View American English definition of surplus. 7, A budget surplus of EC$12,300(sentencedict.com),000 was predicted on the current account. Enrich your vocabulary with the English Definition … https://financial-dictionary.thefreedictionary.com/budget+surplus. Definition: Budget surplus refers to the amount by which a company’s revenue exceeds its expenses. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). A budget deficit occurs when an government spends more money than it takes in. The amount by which revenue exceeds expenditures. A company must have a budget surplus in order to make a profit. In the late 90s, revenues from a period of economic growth and budget balancing legislation eliminated the deficit which resulted in a federal surplus. In both, the scenario money is flown in the economy and purchasing power increases. Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. Noun If there is any surplus, it will be divided equally. When the government’s revenue exceeds its … The budget surplus is the scenario when government earning is more than the spending whereas, in the budget deficit, government spending is more than its Income. What made you want to look up budget surplus? Definition and synonyms of surplus from the online English dictionary from Macmillan Education. However, businesses and even families can run surpluses and deficits, which come into play when planning financial strategies and investments. Please tell us where you read or heard it (including the quote, if possible). It may happen when the government starts to collect fewer taxes or starts spending more. A budget surplus occurs when a government is running efficiently. Most Popular Terms: Earnings per share (EPS) Beta; Market capitalization; Outstanding; Market value; Budget surplus is a phenomena that is opposite of budget deficit. When the government’s revenue exceeds its spending. A budget surplus is where government brings in more money than it spends. the amount of extra money that a government needs because it has spent more money than it earned: The White House says the federal government will run a $9 trillion budget deficit over the next decade. Learn a new word every day. Definition of budget surplus. In other words, it measures how much money the company has left over after paying all of its expenses. A budget surplus occurs when tax revenue is greater than government spending. The opposite of a budget deficit is a budget surplus. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Federal Surplus refers to the federal government's budget surplus that results when the government spends less in a fiscal year than it receives in revenue. He's making a quiz, and checking it twice... Test your knowledge of the words of the year. This is also known as a positive budget balance. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Thus, neither a budget deficit nor a budget surplus exists (the accounts "balance"). Can you spell these 10 commonly misspelled words? Definition. 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