In the present work systematic procedures for the balanced description of the lowest singlet excited valence and Rydberg states of butadiene, especially for the correct description of the 11Bu state, are presented. In the first step of the calculation averaged natural orbitals (ANOs) were computed from the density matrices of the ground state, the 21Ag and the 11Bu states. For the 11Bu state the configuration interaction (CI) wave function used for the computation of the respective density matrix contained all possible single and double excitations from the 1bg() orbital into all virtual orbitals and double excitations describing electron correlation. For the ground and 21Ag states a standard multireference (MR) CI with singles and doubles (CISD)/complete-active-space (CAS)(4,4) wave function was used. In the second step, these ANOs were used in extended MR-CISD, MR-CISD with Davidson correction and MR averaged quadratic coupled cluster calculations. This scheme was also extended to state-averaging including the four lowest Rydberg states 11Bg(3s), 11Au(3p), 21Au(3p) and 21Bu(3p). Our best value for the vertical excitation energy to the 11Bu state is 6.18 eV, close to previous equation-of-motion coupled-cluster with singles and doubles including noniterative triples [EOM - CCSD()] and complete-active-space perturbation theory to second order (CASPT2) results, but significantly lower than most of the previous MR-CI and MR-CI based results. The computed vertical excitation energy to the 21Ag state of 6.55 eV is significantly below previous EOM-CCSD(T) and EOM - CCSD() results and demonstrates the deficiencies of these methods in the case of MR situations. On the other hand, this excitation energy is larger than previous CASPT2 results for the 21Ag state. The character of the 11Bu state is predominantly of valence character, but is more diffuse than the ground state. x2values for the 11Bu state range between 25.4 and 26.3a02 in the three-state calculations.