Define the term “budget” according to the textbook. Examine the four sequential steps of a budget cycle and assess its importance in budgeting.

Prompt: Define the term “budget” according to the textbook. Examine the four sequential steps of a budget cycle and assess its importance in budgeting.

For at least 1 of the sources refer to the textbook below:
Justice Administration Police, Courts, & Corrections Management Kenneth J. Peak, Andrew L. Giacomazzi, 2018 Pearson
ISBN.13: 978-0-134-87140-0