Effective Budgeting and Budgetary Control Strategies Workshop

The main objective of this workshop is to update the relevant personnel on the emerging trends and technique required for Effective Budgeting and Budgetary Control in Public and Private Sectors. Computer Application in Corporate Budgeting will also be treated.

Partial Content:

Fundamentals Of Budgeting

• Budgets as driver of operation
• Types of budgets: Choosing suitable types for your organization from Line item, output, planning programming Budget System, Incremental budgeting, Zero base budgeting.
• Corporate long-term budgets and rolling plans.
• Peculiarities of public Sector budgeting
• The role of budgeting and budgetary control in decision making
• Budgeting as a Cost Control Plan.

Preparing The Corporate Budget

• Review of previous year’s results
• Scanning the operating environment, SWOT analysis
• Issuing Budget guidelines and Circulars
• Budget Committee meetings and budget defense
• Duties and responsibilities of the Board of Directors, The Chief Executive, The Executive Committee, etc.
• The Master Budget and its components i.e., operating, Capital, Cash, etc.
• Incorporating pre-approval adjustments

The Approval Process

• Presentation of draft budget to the budget committee
• Presentation to the Executive Committee
• Presentation of the Board of Directors
• Communication the approved budget to the various functionaries
• Addressing the issue of budget discipline
• Agreeing the budget calendar of activities and deadline
• Peculiarities of approval process in public sector Budgeting role: role of various legislative houses/Senate, the Executive Council, The Executive Governor/President etc.