Annual budget of &2 exhausted for &1

What causes this issue?

The annual budget of the availability control ledger &V2& has been
consumed for the FM account assignment &V1&. Depending on the type of
document, this FM account assignment is either a budget address, posting
address, or RIB object/RIB source address representing an RIB rule with
call procedure.
Budget control on outgoing amounts (
<DS:DE.BUAVC_CEILTYPE>ceiling type</> <ZK>Expenditures</>) raised this
message for the following combination of availability control ledger,
fiscal year (and if applicable, <DS:DE.FM_CEFFYEAR_BCS>year of cash
effectivity</>) and control object:
<ZH>&V3&</><ZH>&V4&</>
DEFINE &N& = '001'
INCLUDE FMAVC_ANNUAL_MESSAGE_EXT

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.