This is where the legislature is involved and they review the proposed budget plan. The third phase is the policy execution/reinterpretation phase. This is where the budget become operational. And the final phase of a budget cycle is the audit/evaluation phase. This is where the budget cycle is re-evaluated and check for effectiveness...
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This is where the budget cycle is re-evaluated and check for effectiveness. A budget cycle can be short. Consisting of one to two years. Or it can be long. For up to twenty years. Budget cycles are almost like living things. They are formed, they grow and serve, the grow old, the are questioned, and they die...