These people will be paid the interest rate stipulated, and, if they hold the bonds to maturity, they will get the principle too. Bonds can be traded prior to the maturity date, but the amount received will depend on a comparison between the contract interest rate and the market or current interest rate for bonds with similar risks. Bonds usually have a principle amount and a contract interest rate. The principle can be paid at maturity while the interest is generally paid semi- annually as a percent of the principle. These bonds would be called term bonds , since they are due at a fixed point in time.
Serial bonds come due at different points in time.
The budget covers the governmental decisions on how to raise money and where to spend it. Traditionally, one of the most public decisions in government. A government may have several budgets for the different funds in government. The budget for the general fund is usually the largest. Financial reports, which should assess financial performance, including compliance with budget, are not nearly as widely debated or circulated.