Managing Budgets - A CPD accredited course

This one day course is targeted at public sector and non profit organisations with staff who need to develop, monitor and control budgets. This is a bespoke course based on the course content below but tailored to focus on the specific requirements of the organisation. It is practical in nature, making use of the organisation's own financial management information such that participants can implement their skills back in the work place. Effective financial management is now an integral part of general service management and therefore required across all areas of service within the public and non profit sectors. It is increasingly becoming an essential knowledge area for all staff who have budgetary and financial responsibility.

Course Aims

• To improve the financial competence of learners in the area of budget setting, management and control.
• To enhance both the underpinning knowledge of the subject and the ability to practically implement financial management techniques.
• To advance the participants skills and abilities, and increase their effectiveness in their current or future job roles.

Course Objectives

• To ensure that learners understand the importance of budget setting as fundamental to managing budgets
• To provide information on the different techniques and approaches to preparing and setting budgets, and how they should be applied
• To ensure learners understand budget drivers and how they impact on the budget setting process
• To give learners an opportunity to experience the budget setting process by undertaking exercises
• To encourage learners to be involved in the budget setting process within their own organisations by setting self-development activities
• To provide learners with information on budget monitoring and control techniques, including key areas such as variance analysis and projecting outturns, which will enable them to be effective in managing a budget
• To ensure learners understand the difference between budgetary control and cost control using illustrations
• To give learners an opportunity to use their knowledge to undertake exercises in budget analysis, budget monitoring, and decision making to control budgets
• To encourage learners to be involved in controlling budgets in their own organisations with self development activities

Course Content Example (Tailored to each individual organisation)

Budget Setting

• Definition of a Budget
• Budget Setting Process
• Budget Setting Techniques
• Budget setting assumptions
• Demand led budgets
• Profiling Budgets
• Forecasting Income
• Key to Successful Budgeting

Budget Management

• Principles of Budget Monitoring
• Steps in the Monitoring Process
• Establishing Actual Income and Expenditure
• Commitment Accounting
• Variance Analysis
• Calculating Variances
• Reasons for Variances
• What to do about Variances
• Projecting Outturns
• Monthly Monitoring Routines

Budgetary Control

• Budget Control Drivers
• Uncontrollable Variances
• Taking Action to Control Budgets
• Budget Virement
• Budgetary Control reports
• Budgetary Control v Cost Control
• Responsibility for Budget Management

This course will include:

• Copies of relevant publications such as "Managing the Devolved Budget"
• Tailored Course Material
• Illustrations/Case Studies/Practice Exercises
• Trainer-led PowerPoint presentations
• Any other key documents required by the organisation, such as policies and procedures

We negotiate delivery times and dates with the client at their convenience and can also vary the length of the course from between a half day to two days.

All organisations within the public sector, such as local government, education, health, environmental services, social services, and emergency services, with staff who have budgetary responsibilities.

Organisations in the non profit sector, including NGOs, Voluntary Organisations, Charities, and the Arts with staff who have any kind of budgetary responsibility.

Courses can also be designed for finance and support staff within the above organisations.

No prior knowledge is required for this course.

It is designed to be suitable for all levels of financial competency - beginner to experienced.

Organisations may wish to specify a particular level as part of the course design.

All staff attending the above course will be eligible for CPD points which may be required for their profession. The course will also assist staff with career progression with their organisation and enhance their CV.