Which type of budget council should use that can provide more accurate and up to date financial information to assist decision making? Budget:Rolling v periodicIncremental budgeting Zero based budgeting Flexible budge V fixed budget ?Briefly explaining different types of budgets ?

Budgeted data lanyard February March April E E Sales 14,000 15,400 15,800 16,600 Purchases 13,000 12,600 12,800 13,400 Wages 600 680 740 800 Other overheads 1,100 1,080 1,150 1,180 Capital expenditure 6,500 The following additional information is available: 1- 35% of the customers pay cash and the remainder take 1 month to pay. 2- Rent is paid in advance for 6 months on 1't of May and 1't of November each year. 3- 45% of the purchases are paid for after 1 month and the remainder in 2 months' time. 4- Wages are paid in the current month. 5- Other overheads are paid after 2 months. 6- Capital expenditure is paid in the following month. 7- Opening cash balance for January is E2,800 overdraft. CASH BUDGETING January February March April Total sales $4,900 E5,390 $5,480 E5,830 621,600 Receivable E4,550 $4,900 $5,390 E5,480 E20,320 Collections Total Inflows 169,450 E10,290 E10,870 11,310 [41,920 Expenses Purchases $4,550 $5,310 E5,200 $5,920 $21,980 Wages E600 E680 $740 E800 (2,820 Other El, 100 $1,080 $1,150 E3,330 Overheads Capital $6,500 16,500 Expenditure Total Outflows $5,150 E7,090 E13,520 $7,870 E34,630 Net cash Flow f4,300 E3,200 $2,650 $3,440 17,290 Opening Cash E2,800 E1,500 E4,700 E2,050 Balance E2,050 Closing Cash E1,500 14, 700 E2,050 15,490 Balance 19,340 a) Summerlea is a thriving and diverse town, an important commercial and cultural centre and home to over 100,000 people living in more than 35,000 households. The population has grown by 12% over the last 11 years and is expected to continue to grow. Summerlea Council provides a wide variety of services including public health, traffic, parking, schools, parks and animal management. 2022/23 was a challenging year for Summerdea Council. National reductions in government grant funding, coupled with in-year service demands, led to a f2.2m budget deficit. Panels have been established to decide on the type of budget council should use that can provide more accurate and up to date financial information to assist decision- making. Your role is to write a report to the panel briefly explaining different types of budgets, which type of the budget you think is most suitable for the council and why