Budgeting is the Essence of Good Management
25 years ago I ran a public school knowing I had a certain amount for 1 year. If there was some money left, I could use it the next year with the constraint I should use it just for investment. Actually the money was delivered monthly.
Today it is delivered in 4 trimesters, and the remaining money (if any) goes back to the central administration.
To me annual budget is a useful guideline for planning and a tool coming from basic economics: how much resources do we have to achieve our goals: the essence of good management.