Enter the planned budget amount and the actual budget outcome into the calculator to determine the budget percent.
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Budget Percent Formula
The following formula is used to calculate a budget percentage.
B = (PB - AB) / PB *100
- Where B is the budget percentage over or under the planned budget
- PB is the planned budget amount
- AB is the actual budget amount
To calculate a budget percentage, subtract the actual budget from the planned budget, then divide by the planned budget amount and multipy by 100.
If the value of this formula turns out to be positive, then it is displaying the percentage under budget. If it is negative it is displaying the percentage over budget.
Budget Percent Definition
A budget percent, or percentage, is defined as a measure of how much over or under budget a certain project was, relative to the planned budget.
How to calculate budget percent?
Example #1:
First, determine the planned budget amount. For this first example, the planned budget of the project is found to be $40,000.00.
Next, determine the actual outcome of the budget, or the actual amount spent. In this case, the actual budget spent ended up being $35,000.00.
Finally, calculate the percent over or under budget using the formula above:
B% = (PB – AB) / PB *100
= (40,0000-35,000) / 40,000 * 100
= 12.5%
Since this value is positive, this project was under budget.
Example #2:
In this next example, the planned budget will end up being the same as above, at $40,000.00. However, the actual amount of money spent is $50,000.00.
Using the same formula as above:
B% = (PB – AB) / PB *100
= (40000-50000)/40000*100
= -25%
Since this value is negative, the project went over budget.
