Budgeting--A System for Planning and Controlling Expenses

William F. Dowling’s paper "Budgeting by Casualty Insurance Companies" was presented to this Society in May of 1942. He noted that some twenty years before budgeting was primarily used to control governmental appropriations and expenditures. He also reported on a survey which showed that about one-third of the companies were budgeting expenses in relation to a forecast of income. Budgeting had come of age and he was certain the time had come for its widespread use by casualty insurance companies.