What is the Operating Budget?
What is a Capital Budget?
What is a Fiscal Year?
What is a Budget Appropriation?
What is a Supplementary Appropriation?
What is the budget process?
What is the Government's budget strategy?
What is the total size of the Operating Budget?
What is the total size of the Capital Budget?
How can I find a list of planned Capital Projects for the fiscal year?
What is the current Budget surplus/deficit?
How are Operating Resources allocated?
What is a Pre-Election and Financial Update (PREFU)?
What date is the Annual Plan and Estimates (Budget) required to be tabled?
What is an Annual Plan and Estimates (AP&E)?
What is an Annual Budget Statement?
What is an Ownership Agreement?
What is a Purchase Agreement?
How is funding approved for particular projects?
What are the different types of Appropriation categories?
What is an Output?
What is an Output Group?
What is a Transfer Payment?
What is an Other Executive Expense?
What is an Executive Asset?
What is an Entity Asset?
What is an Equity Investment?
What is a Capital Withdrawal?
What is Coercive Revenue?
What is Entity Revenue?
What is an Input?
An Operating Budget is an amount that has been appropriated for recurring expenditures, such as salaries, utilities, insurance and repairs.top
A Capital Budget is an amount that has been appropriated for the construction or purchase of physical assets; such as buildings, roads, land and equipment.top
A Fiscal Year is a 12 month operating cycle that comprises a budget and financial reporting period. The fiscal year for the Cayman Islands Government begins on July 1 and ends on June 30.top
A Budget Appropriation is a specific amount of funds given by an Appropriation Law to the Governor in Cabinet for a specific purpose to purchase output groups, transfer payments or acquire executive assets, etc.top
A Supplementary Appropriation is a specific amount of funds approved for use by the Finance Committee and Legislative Assembly as a result of changes made to the Appropriation Law within a particular fiscal year.top
Click to hyperlink (include info of Timeline)top
Click to hyperlink to SPStop
Click to hyperlink (Summary page within the AP&E).top
Click to hyperlink (Summary page within the AP&E).top
Click on hyperlink (Purchase or Construction pages of AP&E and Equity Investments of various M/P of ABS).top
Click on hyperlink (Financial summary page of AP&E).top
Click on page showing analysis and chart of distribution of expenditure.top
A PREFU includes the economic forecasts for the current financial year and for the next two financial years. It also includes the forecast financial statements for the core government and the entire public sector for the same periods. The PMFL (2005 Revision) Section 26 (1) requires the Financial Secretary to gazette a PREFU or more than 42 days, nor no less than 28 days before the date of the General Election. N.B. A PREFU is not required if an Annual Plan and Estimates has been presented to the Legislative Assembly less than three months before the date of the General Election.top
The PMFL (2005 Revision) Section 23 (3) states that the Financial Secretary on behalf of the Governor in Cabinet shall present the Annual Plan and Estimates for the next financial year no later than the 1st May in each year.top
An Annual Plan and Estimates is the Government's main budget document and outlines the Government's planned policy actions and forecast financial performance for the financial year. It also specifies the expenditure appropriations which forms the basis of the Appropriation Law.top
An Annual Budget Statement details the output delivery and ownership performance expected of each Ministry/Portfolio in respect of a fiscal year.top
An Ownership Agreement specifies the ownership performance the Government expects of each Statutory Authority and Government Company in respect of a fiscal year.top
A Purchase Agreement specifies in detail the outputs the Government plans to purchase from Statutory Authorities, Government Companies and Non-Governmental Output Suppliers in respect of a fiscal year.top
Parliament has ultimate control over Government finances. All expenditures are approved by an Appropriation Law.top
There are eight main categories of appropriations. These are Output Groups, Transfer Payments, Executive Assets, Equity Investments, Other Executive Expenditures, Loans Made, Financing Expenses and Borrowings.top
An Output is a good or service produced by an Entity.top
An Output Group is a group of outputs within a Ministry, Portfolio, Statutory Authority or Government Company that have similar commonalities. An appropriation is made to an output group which includes one or more outputs.top
A Transfer Payment is a benefit or payment for which no consideration is received by the government.top
An expense which relates to the activities of a Minister, Official Member, Member of the Legislative Assembly or Judiciary.top
An Executive Asset is an asset that is controlled directly by Cabinet and includes crown lands, roads, public buildings and heritage assets. An Executive Assets is not used by a Ministry/Portfolio to produce outputs.top
An Entity Asset is an asset used by a Ministry/Portfolio to produce outputs.top
An Equity Investment is an amount invested in a Ministry, Portfolio, Statutory Authority or Government owned Company.top
Capital Withdrawal means the withdrawal of equity investment from an entity.top
Coercive Revenue is revenue earned by the core government using the coercive power of the state and for which no direct exchange of services occurs.top
Entity Revenue is revenue earned by an entity from the production of outputs (including those purchased by the Governor in Cabinet) or any other of its own activities but do not include any coercive revenue.top
An Input is any labour, capital or other resources used to produce outputs.top