Operating budget and Operating cost

Operating budget noun - A budget for current expenses as distinct from financial transactions or permanent improvements.

Operating cost and operating budget are semantically related In some cases you can replace phrase "Operating cost" with "Operating budget", this phrases are similar.

Operating cost noun - The expense of maintaining property (e.g., paying property taxes and utilities and insurance); it does not include depreciation or the cost of financing or income taxes.

Operating budget and operating cost are semantically related in money needed to run a business topic. You can use "Operating budget" instead a noun phrase "Operating cost".