Elements and Performance Criteria
- Plan for a budget
- Confirm the scope and nature of the activity for which budget is being developed with the appropriate personnel, including any guidelines or directives for budget development
- Correctly identify, access and analyse data required for budget preparation
- Analyse internal and external environmental factors to identify potential impacts on budget
- Determine budget parameters with estimates, based on research, consultation and negotiation with the appropriate personnel and organisation/project objectives
- Provide relevant colleagues with the opportunity to contribute to the budget planning process
- Develop and prepare budget
- Draft budget based on analysis of all available information and in accordance with organisational policy
- Clearly identify and support income and expenditure estimates with valid, reliable and relevant information
- Assess and present options when appropriate
- Present recommendations clearly, concisely and in an appropriate format
- Circulate draft budget to the appropriate personnel for comment at the appropriate time
- Agree and incorporate modifications accurately and in consultation with colleagues
- Negotiate final budget in accordance with organisational procedures and policies
- Complete the final budget in required format within an agreed timeframe
- Inform appropriate personnel of the budget and its application within the relevant area of work, including reporting and financial management responsibilities