Elements and Performance Criteria
- Identify financial resource requirements.
- Consult with key people to develop and endorse proposals for expenditure.
- Ensure proposed expenditure takes into account factors likely to affect costs and returns.
- Link proposed financed activities to organisational objectives and strategies.
- Ensure proposed financed activities include targets, standards and monitoring methods.
- Establish budgets for activities.
- Ensure relevant people participate in determining a budget that is clear, concise and presents a cost-benefit analysis.
- Present budget proposals in the format required by your organisational management practices.
- Conduct negotiations in a way that maintains good working relationships with the people involved.
- Resolve and report areas of uncertainty or contention and negotiate and finalise agreements in the time required.
- Provide relevant people with information about the budget decisions in a manner and timeframe that contribute to their cooperation and confidence.
- Control expenditure and activities against budget.
- Ensure team members take individual responsibility for monitoring and controlling expenditure and activities against budgets.
- Implement a method of regular monitoring of expenditure and activities against budgets that complies with the organisation's requirements.
- Take corrective action in response to actual or potential significant variation from budgets promptly and effectively and report outcomes.
- Refer requests for expenditure outside the area of the budgets promptly to the relevant people.
- Complete records of activities against budgets accurately and make available to authorised people.