The amount by which government revenues exceed government spending. 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. Definition. 'All Intensive Purposes' or 'All Intents and Purposes'? Learn a new word every day. 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). budget surplus definition in English dictionary, budget surplus meaning, synonyms, see also 'Budget',budget for',budget account',budget deficit'. 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. Test Your Knowledge - and learn some interesting things along the way. 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. With a budget surplus, the government can use the surplus revenue to pay off public sector debt. When a surplus occurs, revenue exceeds current expenses and results in excess funds that can be … A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures. In other words, it receives more in taxes than it spends on defence, welfare, or education. A budget surplus is where government brings in more money than it spends. A budget surplus is the opposite of a budget deficit which is where the government spends more than it brings in. View the pronunciation for surplus. Please tell us where you read or heard it (including the quote, if possible). Delivered to your inbox! What made you want to look up budget surplus? "Budget surplus" and "budget deficit" are terms most commonly used to describe a government's financial picture. The opposite of a budget deficit is a budget surplus. The amount by which government revenues exceed government spending. 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. U.S. reports record budget surplus for FY 1999 There had been speculation among some players that the BOJ would leave a smaller surplus in the market, because on Friday last week, the BOJ left a surplus of 700 billion yen, down from the 1 trillion yen surpluses it had left the 11 consecutive trading days before then. Budget surpluses are quite rare in modern economies because of the temptation for politicians to spend more money and cut taxes. 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. Can you spell these 10 commonly misspelled words? In other words, it measures how much money the company has left over after paying all of its expenses. A budget surplus means the opposite: in total, the government has removed more money and bonds from private holdings via taxes than it has put back in via spending. When the government’s revenue exceeds its … A company must have a budget surplus in order to make a … A budget is a financial document, which forecast the future income and expenses, further it illustrates the ways in which income is going to be received, and how that received income is going to be shared or allocated among the expenses that are to be incurred. In the late 90s, revenues from a period of economic growth and budget balancing legislation eliminated the deficit which resulted in a federal surplus. Define Budget surplus. 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. 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. 6, Interest rates can be cut and Bill Clinton's budget surplus spent. He's making a quiz, and checking it twice... Test your knowledge of the words of the year. Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Budget surplus is the amount by which a government's income which primarily comes from taxes and duties exceeds its total expenditures such as defense, social security, science, energy and expenditure on infrastructure, etc. 5, The budget surplus of A$8,107 million was the fourth consecutive surplus, and would be used to reduce overseas debt. 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