This analysis evaluates how effectively budgets are transformed into expenditures, and whether spending constraints are due to lack of initial budget allocations, lack or delayed transfer of resources, or the absorptive capacity of the executing agencies. The analysis should be conducted on the main biodiversity actors, such as the ministry of environment. For each priority organization examined, a graph profiling budgets, allocation, and expenditure should help to highlight discrepancies. If the large gap is between budget and allocation, ask why; often delays in transferring or approving budgets are the reason. If the gap is between allocation and expenditure, then it is likely a timing issue or an absorption capacity issue—the receiving organization lacks the capacity to spend the money efficiently. If the latter is the case, increasing budgets will do little to improve impact on the ground.