What type of budgeting involves specifying each account and its accompanying amount?

Line-item budgeting is characterized by the specificity it offers, where each account is detailed along with its corresponding amount. This budgeting approach is commonly used in educational settings to allocate funds for distinct line items or categories, such as salaries, utilities, supplies, and other expenditures. By clearly outlining each account, stakeholders can track spending more effectively and ensure that each category of expense is adequately funded.

This method allows for straightforward comparison of current and past budgets and facilitates monitoring and accountability. It is particularly useful for organizations that need to adhere to strict financial regulations and reporting requirements. Line-item budgeting promotes transparency and ease of understanding of financial resources and their allocations within educational institutions.