Annual Budget Process Assessment: Is Your Budgeting Process Helping to Drive Results? [SUBSCRIBERS-ONLY]
Stepping back once a year to take a high-level assessment of your budget system is both a best practice and a proactive exercise.
There are five important questions to keep in mind as you work through the assessment process:
Are critical users getting the budget-based financial tools they need to be successful?
Is budget “ownership” core to your organizational culture?
Is budget awareness driving planning and enhancing results?
Are budget-based reports telling the “Good Story,” effectively benchmarking results, and forcing a forward-thinking approach?
Are your budgets helping Board members to fulfill their financial fiduciary and strategic roles?
