Budget vs. actual reports compare planned budgeted amounts to actual financial results, showing how closely reality matched projections. These reports present revenues and expenditures by category, showing budgeted amounts, actual amounts, and the variance (difference). Regular budget vs. actual reports (often quarterly) help council and administration monitor financial performance, identify emerging issues, and take corrective action if actual results are significantly off budget. Year-end budget vs. actual analysis explains the full year's results and informs future budgeting. Transparent budget vs. actual reporting supports accountability by showing whether governments managed money as they promised.