Budgeting and budgetary control are necessary for the successful execution of construction contracts. This paper examines the impacts of budgeting and fiscal control in the execution of construction contracts. Primary data were sourced from 50 financial experts in the construction industry using a questionnaire comprising four research questions. The questionnaire was constructed using Likert Four-Point Scale Response and analyzed using weighted Mean. After that, research hypotheses were tested. These methodologies revealed that budgets are not used in the execution of construction contracts. Hence, the issue of budgeting and budgetary control became almost irrelevant in the study. As a result of these unfavorable findings, adequate awareness of the impacts of budgeting and fiscal control in the execution of construction contracts and submission of budgets and budgetary control measures as an integral part of conditions of construction contracts were recommended. Keywords: budgeting, budgetary control, construction contracts, finance, projects