Creating a Budget: It’s a Team Sport
Once you understand the goals of the organization, this understanding needs to be translated into the budget needs for the year. We will discuss the budget process, how it is run, and what the expectations of different levels of leadership are in the process. We will also talk about different types of budgets such as operating and capital budgets, and the differences between a budget and a forecast. We will also look at the concept of a business case to help leaders explain the need for funding for new initiatives or budget needs.