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Elements and Performance Criteria

1. Plan a budget
   • Workplace resource needs are identified and documented
   • Resource needs are costed
   • Budget document is prepared and processed in accordance with organisational requirements
2. Manage the acquisition and allocation of budgetary resources
   • Systems for monitoring expenditure are maintained
   • Budgets are monitored to ensure expenditure is within targets
   • Appropriate technology is applied to the resource management system
   • Changing priorities are identified and discussed with applicable personnel
   • Budget document is amended in response to changing activities or costs
   • Accountability requirements are satisfied
3. Evaluate and report budget outcomes
   • Expenditure against planned budget is evaluated
   • Impacts on financial changes/constraints on work unit objectives are evaluated and documented
   • Report on expenditure/budget is prepared in accordance with organisational policies and procedures

Range Statement

This field allows for different work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included.
Workplace resource needs include:	Personnel Finance Equipment Facilities Items of aeronautical product Breakdown spares and materials Consumables
Budgets include:	Annual Length of project/activity Quarterly For another period of time, as required
Systems for monitoring expenditure include:	Paper-based systems Computerised systems Receipts and invoices Quotes

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Performance Evidence

Evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria under the specified conditions of assessment on at least one occasion, and must include:

financial management

monitoring

evaluation and decision making

mathematical calculation.

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Knowledge Evidence

Evidence required to demonstrate competency in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

organisational budgetary processes

tasking over the period of the budget

requirements in Civil Aviation Safety Regulations (CASRs) regarding financial status of maintenance organisations

fraud and ethics.

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