The monetary budgets assigned to a specific iati-activity can be described in the IATI activity standard using the following:
- transaction-type - Commitment type can be used to describe the total committed budget for the duration of the activity.
- budget - the value of the iati-activity budget for each financial year, as stated in the original project document.
- planned-disbursement - a scheduled payment, set up against the budget
Additionally, there are two areas within the IATI activity standard that allow further clarification of budgets:
- country-budget-item - alignment of iati-activity with the functional and administrative classifications used in the recipient-country Chart of Accounts.
- capital-spend - the percentage of the total commitment that is for capital spending.
These all relate to the specific iati-activity being described.
When using the IATI activity standard to declare budgets, the following should be considered:
- It is recommended that budgets are presented in financial years.
- When presenting multiple budgets, then the budget element should be repeated accordingly.
- It is expected that the financial years for reporting-org are described.
- It is possible to report periods other than years, but this is not recommended.
- Financial periods can be presented using the period-start and period-end dates.
- For planned-dibursement it is valid to only report the period-start as a single date.
- It is possible to report budget values in multiple currencies, overriding the default currency set in iati-activity
- It is expected that budgets would be described from the reporting-org perspective.
- When declaring a value-date for any budget, this date must be in the past.