Elements and Performance Criteria
- Allocate budget resources.
- Allocate funds according to budget and agreed priorities.
- Discuss changes in income and expenditure priorities with appropriate colleagues prior to implementation.
- Consult and inform all relevant personnel in relation to resource decisions.
- Promote awareness of the importance of budget control.
- Maintain detailed records of resource allocation according to organisation control systems.
- Monitor financial activities against budget.
- Check actual income and expenditure against budgets at regular intervals.
- Include financial commitments in all documentation to ensure accurate monitoring.
- Identify and report deviations according to organisation policy and significance of deviation.
- Investigate appropriate options for more effective management of deviations.
- Advise appropriate colleagues of budget status in relation to targets, within agreed timeframes.
- Identify and evaluate options for improved budget performance.
- Assess existing costs and resources and proactively identify areas for improvement.
- Discuss desired budget outcomes with relevant colleagues.
- Undertake appropriate research toinvestigate new approaches to budget management.
- Define and communicate clearly the benefits and disadvantages of new approaches.
- Take account of impacts on customer service levels and colleagues in developing new approaches.
- Present recommendations for budget management clearly and logically to the appropriate person or department.
- Complete financial and statistical reports.