This checklist is designed to ensure a thorough review of budget allocations to verify that funds are appropriately distributed across departments and projects, aligning with the financial goals of the organization.
Collect all relevant budget documentation including departmental budget requests, historical spending data, and financial goals.
Examine each department's budget request to ensure alignment with strategic objectives and assess the necessity of requested funds.
Evaluate past spending patterns and budget performance to identify trends and make informed decisions on current allocations.
Meet with department heads to discuss their budget needs, providing an opportunity for clarification and adjustments based on organizational priorities.
Ensure that all budget allocations comply with internal financial policies and procedures to maintain fiscal responsibility.
Compile all findings and prepare recommendations for final budget allocations to be presented to the finance committee or management.
Submit the final budget allocation recommendations to the appropriate authority for approval before finalizing the budget.
Keep records of all communications, decisions, and documents used throughout the review process for future reference and accountability.