Summary Definition. Define Balanced Budget: Balanced budget means a financial planâs cash inflows and outlays are equal and will not cause the entity to go into debt.
Portsmouth, Virginia. Portsmouth is an independent city in the Commonwealth of Virginia. As of the 2010 census, the population was 95,535.[3] It is part of the Hampton Roads metropolitan area.
The Gosport Shipyard at Portsmouth was owned by the Commonwealth of Virginia after the American Revolutionary War and was sold to the new United States federal government. In 1855, the Portsmouth and Norfolk area suffered an epidemic of yellow fever which killed 1 of every three citizens.