What are the differences between short term budget and long term budget? Why use both of them?

Both of them are important for the achieving the Goal vision, and Mission  (long term Planning Budget)

And the current needed goal of the current year (Short term Budget)

Short-term

This type of budgeting period of time than a month to cover one year, and lower administrative levels concern whenever the period is shorter increased forecasts and estimates are accurate, they are used as a tool for planning and control together, it helps management error detection and correction firsthand track

Long-term

 

This budget covers a period of three to ten years and more, and this kind of budgets matter of senior management and care side schematic than on side oversight, they do not care about the precise details of interest to the annual budgets, they are designed to coordinate between the goals and possibilities available in the future

Short term budget is to know the requirement of fund required for certain event during required time line but long term budget is requirement of fund for entire project duration .

agree with answers

thanks for the invitation