Elements and Performance Criteria
- Communicate budget and financial plans
- Budget/financial plan communication package is reviewed by finance specialists
- Package is amended/revised where appropriate
- Training activities are undertaken with users of the budget and plans across the organisation
- Data and terms are defined to assist users of the plans
- Communication outcomes are tested to ensure clarity of objectives, processes and accountabilities
- Monitor and control activities against plans
- Delegations and budget accountabilities are confirmed in writing prior to budget period
- Funds are allocated in accordance with budget objectives and parameters
- Audit requirements and legal obligations are met through recording systems and documentation
- Risk management plans are implemented and contingency plans are in place for all financial plans
- Performance is monitored and variances are identified on a real time basis
- Variances are analysed in conjunction with relevant experts to determine cause and effect
- Report outcomes of financial plans
- Records of financial performance are properly maintained within organisational systems
- Financial performance is analysed and reported in a form and language appropriate to the audience
- Non-financial objectives are reported in the context of overall organisational performance
- Strategies and plans are reviewed and updated to optimise organisational performance