The ability to DELETE Local Budgets
Noting that this functionality does exist and completing the feedback request.
These particular budgets were build awkwardly and the Matrix Success team has since discussed how to handle in the future.
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AdminRyan Moore (Product Owner, Matrix) commented
There is nothing within Matrix that prevents you from deleting Local budgets.
I am aware of a recent issue where users were trying to delete millions of records at once and Matrix was not responding as quickly as it probably should have. This was never considered a business case, to delete massive amounts of budget records, when the feature was developed as we chose the approach for users to simply ignore records that you do not really need since they do not impact reporting, but nothing prevents you from deleting any portion of the budget template.