I don't know how BG/Seaworld Corp's budget process works (nor do I know anything about this particular project and what element caused it to be cut) but to morte's post above, typically that is not how most companies handle their budgets, its not just one guy who is terrible at his job but a LOOONG process that is vetted between a bunch of people (from all different levels of the approval chain) and could take months to accomplish. Sometime companies have to start moving forward with projects before they even have the approved funds just so they can reach a certain deadline and that sounds like what happened this time with the retheme.
You'd be surprised how long it can take companies to approve budgets, I've worked for places where the current budget wasn't approved till February of the same year(aka, for instance, 2014 budget being approved 02/2014).
Cutbacks typically happen when a division builds their budget based off of the previous year's numbers and then the higher ups (like very high) say "We need you to make 5% more this year because last years numbers were so low and we didn't make money/broke even/barely made anything (aka we need to make more profit)" but then they realize halfway through the year that they aren't going to make 5% more and they have to adjust their operating level in order to come closer to breaking even.
Sorry to continue to be a fun suck, this is how companies work person. I have to use my degree for something... Complaining on the internet counts as something useful, right?
But at least this means no crazy retheme is coming!