The study aimed at assessing budget and budgetary control in enhancing financial performance of an organization. Specifically the study focused on identifying the budgeting process of MWAUWASA, assessing the trend of budget performance of MWAUWASA from the year 2017-2019, and to determine the contribution of budget in the financial performance of the company. The study adopted a case study research design as the best way of collecting data and assessing the budget and budgetary control in enhancing financial performance of an organization. The study comprised 45 respondents from MWAUWASA-Headquarter. Questionnaire and interview were used to collect data. Data was presented into tables, graphs and charts for easy analysis and discussion of the findings. The study findings indicated that budgeting process starts with identification of financial objectives and it end up with monitoring, adjustments and providing feedback for the necessary corrective measures. Also the study indicated that MWAUWASA is experiencing negative variance in its budget trend for each financial year and lastly the study revealed that budget and budgetary control contribute much to the effectiveness of the organization. The study concluded that in order to enhance the financial performance of MWAUWASA there must be proper control and management of the organization’s budget. The study therefore; recommended that in order to enhance performance budgetary control need to be done from the beginning of the budgeting process until the end of the budget implementation and formulation of the new budget