How are departmental budgets set, considering the role of finance business partners, board sponsors, departmental heads etc?

[John Paulson]

I'm contracting at the moment, but at some point, would be nice to know the finer details of how medium to large sized departmental budgets are put together, considering the business partners assigned from finance to the different departments, the board sponsors who have to approve certain line items etc.

 

[JEREMY HAWKE]

They still work it out on the back of an envelope in pub
The envelope is just a bit bigger

 

[Mark T Jones]

They still work it out on the back of an envelope in pub
The envelope is just a bit bigger

Who shouts loudest

Who didn't spend their full budget last year

What's political

 

[Scalloway]

I remember being a very junior trainee accountant in my local council and getting asked to bring my calculator to a meeting of all the senior Finance department staff. The director of finance proceeded to outline various scenarios to the assembled group and asked me to calculate what the rates yield would be. When I got what he thought was the right answer he then said that was the budget target for next year.

 

[elaine@cheapaccounting]

I'm contracting at the moment, but at some point, would be nice to know the finer details of how medium to large sized departmental budgets are put together, considering the business partners assigned from finance to the different departments, the board sponsors who have to approve certain line items etc.

It very much depends on the organisation and the level of financial acumen amongst the managers in charge