What is the primary focus of the 'financial and performance audit' step in the budget process?

The primary focus of the 'financial and performance audit' step in the budget process is to assess the execution and effectiveness of the budget. This step involves a comprehensive evaluation of how well the budget has been implemented and whether the resources allocated have been used efficiently and effectively to achieve the desired outcomes. By conducting these audits, organizations can measure their performance against the established expectations and determine if the goals set in the budget have been met.

This process is crucial for accountability and transparency, as it provides stakeholders with critical information regarding the management of financial resources. Through financial and performance audits, entities can identify areas for improvement and make informed decisions regarding future budgets.

While gathering community feedback on budget allocation and ensuring compliance with political campaign promises are important aspects of public budgeting, they do not directly pertain to the auditing process, which is fundamentally about evaluating past financial performance and operational effectiveness. Future expenditure forecasts focus more on predicting future financial needs rather than assessing current execution.