What is the biennial budget?

A biennial budget is a financial plan that covers a two-year period, outlining projected revenues and expenditures for government entities. This approach allows for more extended planning and potentially greater efficiency in budgeting processes. Many states in the U.S. and some organizations utilize biennial budgets to streamline operations and allocate resources more effectively over a longer timeframe. However, it can also pose challenges in adapting to changing economic conditions or unforeseen expenses.