This checklist is designed to ensure that budget allocations across departments are reviewed effectively and align with the organization's financial strategy.
Collect all budget proposals submitted by different departments for the upcoming period.
Analyze past spending patterns of each department to inform allocation decisions.
Evaluate each proposal to determine how it aligns with the organization's strategic objectives.
Rank budget requests based on necessity and potential return on investment.
Meet with department heads to discuss their budget requests and gather additional insights.
Prepare a summary of recommended budget allocations for approval.
Present the final recommendations to the finance committee for approval.
Record the approved budget allocations and communicate them to relevant departments.
Establish a process for ongoing monitoring of budget utilization to ensure compliance and make adjustments as necessary.