That may be true. Local governments not so much. The county commissioners (or equivalent) usually suck up any unspent funds in your department for another department in crisis.
I’ve worked both. Private corps have less oversight. I remember only one audit in 10 years while working in a private company. Government had one every year at least. Private – budget is a guideline, no penalty if you overspend. Consequences for missing targets – maybe. Government no leeway. Maybe it is different for federal or state. I worked at the county or city level.
“It was a grave yard smash”