Document background
A Board Resolution Approving Budget is a crucial corporate governance document required under Singapore law to formalize the board's approval of financial planning and resource allocation. It demonstrates compliance with directors' duties under the Companies Act (Cap. 50) and provides official authorization for expenditure. This document is typically used annually or when significant budget revisions are needed, containing detailed financial allocations, implementation authority, and any specific conditions or restrictions. The resolution serves as evidence of proper corporate governance and protects both the company and its directors in their exercise of financial oversight.
