Definition: is a company’s funds allocated and used by its management to support, control, and regulate the daily activities and operations that aren’t related to the production of a good or service. These funds are commonly spent on insurance, consulting, employee salary (including departmental employees as well as managers and clerical workers), fees, marketing campaigns, and rent. Usually, an administrative budget includes a management approved plan that covers a pre-determined period (typically a year or a quarter).
In a Sentence:
We’ve analyzed the figures included in our administrative budget, and the results are rather uninspiring. We’re spending too much money on insurance, considering the small size of our staff.
According to Paper-Mill’s annual administrative budget, the company plans to increase the funds it allocates to marketing by sixteen percent. Apparently, the organization’s management is unhappy with how well they’re products are doing.
Synonyms and related words: austerity budget, base budget, baseline budget, net sum budget, start-up budget