Annual budget of &2 exhausted for document item &1

What causes this issue?

The annual budget of the availability control ledger &V2& has been
consumed for the document item &V1&. 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& = '004'
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.