LINE ITEM BUDGET Definition

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LINE ITEM BUDGET is a budget initiated by government entities in which budgeted financial statement elements are grouped by administrative entities and object. These budget item groups are usually presented in an incremental fashion that is in comparison to previous time periods. Line item budgets are also used in private industry for comparison and budgeting of selected object groups and their previous and future expenditure levels within an organization.

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CONTINGENT is a result that is determined by conditions or circumstances not yet established.

JCO is Justification for Continued Operation.

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