{"id":21377,"date":"2020-01-24T19:56:23","date_gmt":"2020-01-24T19:56:23","guid":{"rendered":"https:\/\/www.process.st\/templates\/budget-preparation-checklist-4\/"},"modified":"2024-02-29T01:13:51","modified_gmt":"2024-02-29T01:13:51","slug":"budget-preparation-checklist-4","status":"publish","type":"post","link":"https:\/\/www.process.st\/templates\/budget-preparation-checklist-4\/","title":{"rendered":"Budget Preparation Checklist"},"content":{"rendered":"<section id=\"introduction\">\n<h2>Introduction:<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/tWdMqy6h8C0cpS6N8Y5LPQ.png\" alt=\"Introduction:\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/tWdMqy6h8C0cpS6N8Y5LPQ.png\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>Preparing a budget can be a <strong>long and arduous process<\/strong>, but it <strong>doesn't have to be<\/strong>. By efficiently gathering all of the information you need and following clear steps to gain approval from top management without excessive delay, you can implement a new budget in no time.<\/p>\n<p><a href=\"https:\/\/www.aemcpas.com\/cpa-firm\/news\/4-Benefits-of-a-Well-Prepared-Budget.html\" rel=\"nofollow noopener\" target=\"_blank\">A well-prepared budget<\/a> is an <strong>effective management tool<\/strong> as it enables you to see if you are on track to meet goals or if corrections are needed mid-course.<\/p>\n<p><strong>Run this checklist on an annual basis<\/strong>, ideally 3 months before the end of the fiscal year, to prepare your departmental budget as efficiently as possible.<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"first-steps\">\n<h2>First steps:<\/h2>\n<\/section>\n<section id=\"record-basic-details\">\n<h2>Record basic details<\/h2>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Company name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Department name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Budget term (fiscal year) <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Is this the first budget your department has created? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"text-content\">\n<h4>Contact for approval<\/h4>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Contact for approval - First name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Contact for approval - Last name <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"set-target-date-for-approval\">\n<h2>Set target date for approval<\/h2>\n<div class=\"text-content\">\n<p>Before you begin preparing the budget, set a <strong>target date for approval.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"date-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Target date for approval <\/label> <\/p>\n<div class=\"date-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-calendar btn-icon\"><\/i> Date will be set here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"current-financial-status\">\n<h2>Current financial status:<\/h2>\n<\/section>\n<section id=\"review-the-most-recent-budget\">\n<h2>Review the most recent budget<\/h2>\n<div class=\"text-content\">\n<p>Before you begin planning the new budget, it's <strong>essential<\/strong> that you have a <strong>good understanding<\/strong> of the <strong>department's current financial status.<\/strong>&nbsp;<\/p>\n<p>Review the most recent budget to gain an understanding of where the department's finances currently stand and <strong>identify significant&nbsp;variances<\/strong> that need to be addressed.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"file-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Most recent budget - File <\/label> <\/p>\n<div class=\"file-container\">\n    <button type=\"button\" disabled class=\"btn btn-default\"> <i class=\"fa fa-upload btn-icon\"><\/i> File will be uploaded here <\/button>\n   <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"evaluate-any-significant-variances\">\n<h2>Evaluate any significant variances<\/h2>\n<div class=\"text-content\">\n<p>As you review the most recent budget, <strong>analyze&nbsp;and evaluate any significant&nbsp;variances<\/strong>&nbsp;to understand if there are any adjustments that need to be made when planning the current budget.&nbsp;<\/p>\n<p><strong>Note down any significant variances below<\/strong> along with a brief evaluation of their cause and potential impact on future budgets.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Significant variances in the previous budget <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"goals\">\n<h2>Goals:<\/h2>\n<\/section>\n<section id=\"define-and-prioritize-three-to-five-goals\">\n<h2>Define and prioritize three to five goals<\/h2>\n<div class=\"text-content\">\n<p>List <strong>three to five goals<\/strong> for the upcoming year using the form fields below.<\/p>\n<p><strong>The goals should be:<\/strong><\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Realistic\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Actionable\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Measurable\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<div class=\"text-content\">\n<p class=\"style-info\"><strong>Examples of clear goals:&nbsp;<\/strong><\/p>\n<p>Increase gross sales by 5%<\/p>\n<p>Reduce office supply expenses by 10%<\/p>\n<p>Decrease admin costs as a percentage of revenue by 3 points<\/p>\n<p>Reduce inventories by 2% bt the end of the fiscal year<\/p>\n<p class=\"style-warning\">Ensure that the goals are <strong>aligned with the organization's strategic priorities.<\/strong>&nbsp;<\/p>\n<p><strong>Prioritize the goals<\/strong> so you can assign responsibilities and monitor performance accordingly.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Goal 1 <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Goal 2 <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Goal 3 <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"determine-ways-of-achieving-the-goals\">\n<h2>Determine ways of achieving the goals<\/h2>\n<div class=\"text-content\">\n<p>Once you have defined a handful of goals that are aligned with the company's strategic priorities, <strong>record the ways in which you and your colleagues will go about achieving them.<\/strong><\/p>\n<p><strong>What needs to be done, and by whom,<\/strong> to give you the best chance of success when you review the budget this time next year?<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Achieving goal 1 <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Achieving goal 2 <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Achieving goal 3 <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"projected-expenses\">\n<h2>Projected expenses:<\/h2>\n<\/section>\n<section id=\"list-all-department-expenses\">\n<h2>List all department expenses<\/h2>\n<div class=\"text-content\">\n<p>List all of the expenses incurred by your department. These are broken down into<strong> fixed costs and variable costs.&nbsp;<\/strong><\/p>\n<p>For example, for a simple <strong>office budget<\/strong>, the list of expenses may look as follows:&nbsp;<\/p>\n<p><strong>Fixed costs:<\/strong><\/p>\n<ul>\n<li>Payroll expenses<\/li>\n<li>Utilities (electricity, phone, internet, water, gas etc.)<\/li>\n<li>Rent<\/li>\n<\/ul>\n<p><strong>Variable costs:<\/strong><\/p>\n<ul>\n<li>Office supplies&nbsp;<span>(pens, pencils, legal pads, copy paper, stapler\/staples, tape, printer ink, mailing supplies, filing supplies)<\/span><\/li>\n<li><span>Postage\/freight<\/span><\/li>\n<li><span>Equipment maintenance and repair<\/span><\/li>\n<\/ul><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> List of expenses - Fixed costs <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> List of expenses - Variable costs <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"estimate-the-average-monthly-cost\">\n<h2>Estimate the average monthly cost<\/h2>\n<div class=\"text-content\">\n<p>Estimate the average monthly cost of all your<strong> variable expenses.&nbsp;<\/strong><\/p>\n<p class=\"style-info\"><strong>Variable expenses:<\/strong>&nbsp;{{form.List_of_expenses_-_Variable_costs}}<\/p>\n<p>Then <strong>add together your variable and fixed costs&nbsp;<\/strong><\/p>\n<p class=\"style-info\"><strong>Fixed expenses:<\/strong>&nbsp;{{form.List_of_expenses_-_Fixed_costs}}<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Average monthly cost <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"calculate-the-total-annual-budget\">\n<h2>Calculate the total annual budget<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/j0UlmC2_HxUCF5oVJbxONg.jpg\" alt=\"Calculate the total annual budget\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/j0UlmC2_HxUCF5oVJbxONg.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>Now that you've estimated the <strong>monthly cost<\/strong> of all expenses, <strong>multiply that by 12<\/strong> to get the estimated annual budget.<\/p>\n<p class=\"style-info\"><strong>Average monthly cost:&nbsp;<\/strong>{{form.Average_monthly_cost}}<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Total annual budget <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"projected-incomefunding\">\n<h2>Projected income\/funding:<\/h2>\n<\/section>\n<section id=\"list-all-sources-of-income\">\n<h2>List all sources of income<\/h2>\n<div class=\"text-content\">\n<p>Once you've done the expenses side of the budget, <strong>list all of your department's sources of income and\/or funding<\/strong>&nbsp;that represents the money you have to spend during the upcoming year.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Sources of income\/funding: <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"project-total-annual-income\">\n<h2>Project total annual income<\/h2>\n<div class=\"text-content\">\n<p>Now <strong>project the total amount of income\/funding<\/strong> your department will have for the upcoming year.&nbsp;<\/p>\n<p class=\"style-info\"><strong>Sources of income:<\/strong>&nbsp;{{form.Sources_of_income\/funding:}}<\/p>\n<\/p><\/div>\n<div class=\"text-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Projected total annual income\/funding <\/label><br \/>\n   <input type=\"text\" placeholder=\"Something will be typed here...\" disabled class=\"form-control\">\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"putting-it-all-together\">\n<h2>Putting it all together:<\/h2>\n<\/section>\n<section id=\"document-financial-data-in-a-budget-spreadsheet\">\n<h2>Document financial data in a budget spreadsheet<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/qqP4z-0b38nzzpK-MHBKxw.jpg\" alt=\"Document financial data in a budget spreadsheet\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/qqP4z-0b38nzzpK-MHBKxw.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>Now it's time to <strong>document all of the financial data<\/strong> you have gathered in a budget spreadsheet.&nbsp;<\/p>\n<p>If the spreadsheet is <strong>accessible online<\/strong>, enter the link below so you can refer to it with ease.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"text-content\">\n<h4>Important data<\/p>\n<\/h4>\n<p><strong>Expenses:<\/strong><\/p>\n<p class=\"style-info\"><strong>List of expenses:<\/strong>&nbsp;<br \/>{{form.List_of_expenses_-_Fixed_costs}}<br \/>{{form.List_of_expenses_-_Variable_costs}}<\/p>\n<p><strong>Average monthly cost:<\/strong>&nbsp;{{form.Average_monthly_cost}}<\/p>\n<p><strong>Total annual budget:<\/strong>&nbsp;{{form.Total_annual_budget}}<\/p>\n<p><strong>Income\/Funding:<\/strong><\/p>\n<p class=\"style-info\"><strong>Sources of income:<\/strong>&nbsp;{{form.Sources_of_income\/funding:}}<\/p>\n<p><strong>Total annual income:<\/strong>&nbsp;{{form.Projected_total_annual_income\/funding}}<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"finalize-the-budget\">\n<h2>Finalize the budget<\/h2>\n<div class=\"text-content\">\n<p><strong>Finalize the budget by verifying that it:&nbsp;<\/strong><\/p>\n<\/p><\/div>\n<div class=\"multi-select-content form-field-content\">\n<ul class=\"items\">\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       1\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Includes all income and expenses\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       2\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Meets departmental and organizational goals\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       3\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Is aligned with historical data (if any)\n    <\/div>\n<\/li>\n<li class=\"item\">\n<div class=\"step-number-container\">\n<div class=\"step-number\">\n       4\n     <\/div>\n<\/p><\/div>\n<div class=\"step-checkbox-container\">\n<div class=\"step-checkbox\"><\/div>\n<\/p><\/div>\n<div class=\"item-name-static\">\n      Has been documented in a neat and orderly spreadsheet\n    <\/div>\n<\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"final-steps\">\n<h2>Final steps:<\/h2>\n<\/section>\n<section id=\"request-approval-from-top-management\">\n<h2>Request approval from top management<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/qo1VxzrIpRdWb2JutUdMOQ.jpg\" alt=\"Request approval from top management\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/qo1VxzrIpRdWb2JutUdMOQ.jpg\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>Submit the budget to senior management for approval. This is a <strong>critical step in the budgeting process<\/strong>&nbsp;that must be completed before it can be incorporated into the master budget and implemented across the organization.&nbsp;<\/p>\n<p>You can <strong>use the email template below<\/strong> to request approval.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"obtain-approval-from-top-management\">\n<h2>Obtain approval from top management<\/h2>\n<div class=\"image-content\">\n<figure>\n   <a href=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/luP_-yh7oPA7ZMcH5epEkw.png\" alt=\"Obtain approval from top management\" target=\"_blank\" rel=\"noopener\"> <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.process.st\/templates\/wp-content\/uploads\/2024\/02\/luP_-yh7oPA7ZMcH5epEkw.png\"> <\/a><br \/>\n  <\/figure>\n<\/p><\/div>\n<div class=\"text-content\">\n<p>Ensure you have obtained <strong>approval from senior members of staff<\/strong> before moving on to the last couple of tasks in this checklist.&nbsp;<\/p>\n<p><strong>Note down any important points of feedback<\/strong> in the form field below&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"select-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Has the budget been approved? <\/label><br \/>\n   <select disabled class=\"form-control\"><option value=\"An option will be selected here\">An option will be selected here<\/option><\/select>\n  <\/div>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Management feedback (notes) <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"incorporate-into-the-master-budget\">\n<h2>Incorporate into the master budget<\/h2>\n<div class=\"text-content\">\n<p>Once you've got approval from top management, you can incorporate the departmental budget you've created with the company's master budget.&nbsp;<\/p>\n<p class=\"style-warning\"><strong>Keep track of all changes you make<\/strong> to the master budget. Remember,&nbsp;<strong>you are dealing with sensitive data<\/strong> here, so take your time in order that you maintain data integrity.&nbsp;<\/p>\n<\/p><\/div>\n<\/section>\n<section id=\"assign-management-responsibilities\">\n<h2>Assign management responsibilities<\/h2>\n<div class=\"text-content\">\n<p>In order to <strong>reach the goals<\/strong> that you've set out to achieve, you need to <strong>assign specific responsibilities<\/strong> to other managers.&nbsp;<\/p>\n<p>This is the <strong>final step in the budget preparation process<\/strong> and the <strong>first step of implementing<\/strong> the budget you've put together.&nbsp;<\/p>\n<\/p><\/div>\n<div class=\"textarea-field-content form-field-content\">\n<div class=\"form-group\">\n   <label> Management responsibilities to be assigned <\/label><br \/>\n   <textarea placeholder=\"Something will be typed here...\" rows=\"3\" disabled class=\"form-control\"><\/textarea>\n  <\/div>\n<\/p><\/div>\n<\/section>\n<section id=\"sources\">\n<h2>Sources:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><span><a href=\"https:\/\/www.thebalancecareers.com\/budgeting-essentials-for-new-managers-2275920\" rel=\"nofollow\">Dan McCarthy<strong> - <\/strong>Budget Management Tips for New Managers<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/hbr.org\/2015\/07\/the-right-way-to-prepare-your-budget\" rel=\"nofollow\">Harvard Business Review - The Right Way to Prepare Your Budget<\/a><\/span><\/li>\n<li><span><a href=\"http:\/\/www.yourarticlelibrary.com\/office-management\/office-budget\/office-budget-meaning-importance-and-limitations-of-office-budget\/69046\" rel=\"nofollow\">Atul Gupta - Office Budget: Meaning, Importance and Limitations of Office Budget<\/a><\/span><\/li>\n<li><a href=\"https:\/\/www.cleverism.com\/budgeting-process-complete-guide\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Cleverism - Budgeting Process: Complete Guide<\/span><\/a><\/li>\n<li><span><a href=\"https:\/\/www.aemcpas.com\/cpa-firm\/news\/4-Benefits-of-a-Well-Prepared-Budget.html\" rel=\"nofollow\">Jack Abdo - 4 Benefits of a Well-Prepared Budget<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/bizfluent.com\/how-5035496-create-office-budget.html\" rel=\"nofollow\">Shemiah Williams - How to Create an Office Budget<\/a><\/span><\/li>\n<li><a href=\"https:\/\/thethrivingsmallbusiness.com\/budgeting-process\/\" rel=\"nofollow noopener\" target=\"_blank\"><span>Patricia Lotich - 10 Steps to Developing and Managing a Budget<\/span><\/a><\/li>\n<li><span><a href=\"https:\/\/dryrun.com\/5-steps-to-presenting-an-exceptional-departmental-budget-2\/\" rel=\"nofollow\">Shea St. Laurent - 5 Steps to Presenting an Exceptional Departmental Budget<\/a><\/span><\/li>\n<li><span><a href=\"https:\/\/ctb.ku.edu\/en\/table-of-contents\/finances\/managing-finances\/annual-budget\/main\" rel=\"nofollow\">Community ToolBox - Planning and Writing an Annual Budget<\/a><\/span><\/li>\n<\/ul><\/div>\n<\/section>\n<section id=\"related-checklists\">\n<h2>Related checklists:<\/h2>\n<div class=\"text-content\">\n<ul>\n<li><a href=\"https:\/\/www.process.st\/templates\/budget-template\/\" rel=\"nofollow noopener\" target=\"_blank\">Budget Template<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/records-disposal-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Records Disposal Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/office-safety-inspection-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Office Safety Inspection Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/office-risk-assessment-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Office Risk Assessment Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/office-conflict-resolution-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Office Conflict Resolution Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/employee-discipline-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Employee Discipline Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/employment-termination-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Employment Termination Checklist<\/a><\/li>\n<li><a href=\"https:\/\/www.process.st\/templates\/performance-review-checklist\/\" rel=\"nofollow noopener\" target=\"_blank\">Performance Review Checklist<\/a><\/li>\n<\/ul><\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: Preparing a budget can be a long and arduous process, but it doesn't have to be. By efficiently gathering all of the information you need and following clear steps to gain approval from top management without excessive delay, you can implement a new budget in no time. A well-prepared budget is an effective management [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":14673,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"cover_icon_emoji":"","cover_icon_url":"","tasks_count":"27","template_description":"Run this checklist to prepare an annual departmental budget","template_id":"mOxRXQEGWFFDaShOr2FMzg","task_0":"Introduction:","task_slug_0":"introduction","task_1":"First steps:","task_slug_1":"first-steps","task_2":"Record basic details","task_slug_2":"record-basic-details","task_3":"Set target date for approval","task_slug_3":"set-target-date-for-approval","task_4":"Current financial status:","task_slug_4":"current-financial-status","task_5":"Review the most recent budget","task_slug_5":"review-the-most-recent-budget","task_6":"Evaluate any significant 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