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Organizational Leaderhsip Management and Budget Financial Planning Methods and Cycles

Published: Saturday, August 31, 2019 written by Drew Jackson
View Count: 35
Keywords: Team Management, Budget Cycles, CAPEX, CAPOPS



As an organization, leaders and management need to be always on top of the finances. why? because that is how the world works right now. If we did not need money as a resource or tool to accomplish things, it would be something else we would use to exchange goods and services.
 
So, as an organizational leaders, are you on top of things?
 
1. business plan within it is the marketing plan and exit plan
2. #1 leads to #2 a pro forma which leads to a budget
3. the mission and vision, quality goals, metrics, and reporting come from #2
4. what is the budget cycle and where are funds sourced and expended? public, private, government, grant, donations
5. who has signature authority, and are their sign-off levels? more than one signature required?
6. who can bind and break contracts of any financial significance? officers, managers, C-levels?
7. who audits things, privately, publicly, internally, externally, and who audits the auditors and qualifies the audit?
8. when it comes to systems and reporting, are they valid, cross checked, tested for validity?
9. who can make journal entries, you know, adjustments that are traceable, transparent within, etc.
10. what are your budget cycles, and budget communications that affects all things in the org?
11. do you role play and do what-if scenarios if this happens, then do this, if that happens then do that?
 
there is a lot more to this, and it does not take all day, but it can be a great exercise, and sometimes a retreat once or twice a year with key people to manage and oversee the budget and business as a whole.
 
more to come...

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