Going Over Budget
In the US film production system, producers are not allowed to exceed the initial budget. Exceptions have of course been made, one of the most notable examples being Titanic. Director James Cameron ran aground with the budget and offered his fee back to the studio. In other countries, producers who exceed their budget tend to eat the cost by receiving less of their producer's fees. While the US system is profitable and can afford to go over budget, other countries' film industries tend to be financed through government subsidies.
Read more about this topic: Film Budgeting
Famous quotes containing the word budget:
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)