3rd Annual Better Budgeting Web-Stream Series: Budget Monitoring (Encore Presentation)

Training Type: 
Web-Streaming
Date and Time: 
Dec 4 2018 - 2:00pm to 3:00pm  EDT
Level: 
Intermediate
Field of Study: 
Finance
CPE Credits: 
1
Member Price: 
$70.00
Non-Member Price: 
$105.00
Prerequisite: 

Working knowledge of public-sector budgeting processes from role of budget analyst, budget manager, department head, chief executive, or policy maker.

Speakers: 
Senior Deputy County Manager
Cabarrus County, North Carolina
Director of Financial Management
City of Long Beach, California
Budget Director
City of Kansas City, MO
Director/Deputy Executive Director
GFOA
Who Will Benefit: 

This training is intended for all participants in a government’s budget process. Instructors will discuss and debate current trends, best practices, implementation strategies, and lessons learned for governments of all sizes and types.

Program Description: 

Budget monitoring is crucial for stakeholders across an entire organization to be able to enforce accountability related to both spending and service objectives. GFOA’s new best practice statement on budget monitoring recommends that all governments establish a formal set of processes for comparing budget to actual results to monitor performance. This session will explain how to implement a system of monitoring and how to organize necessary stakeholders in the process. Speakers will discuss essential components of effective budget monitoring and how to best involve budget staff, executives, department managers, program staff, and others in monitoring efforts. The session will also answer frequently asked questions related to common budget monitoring practices including:

  • What is the most effective level of detail for budget monitoring?
  • How frequently do you monitor?
  • How to handle budget adjustments?
  • How to deal with departments that routinely overspend?
  • How to use your ERP system to help monitor?
  • What report format is best for communicating?
Seminar Objectives: 

Those who successfully complete this seminar should be able to:

  • Understand the importance of tracking both program activity/results and expenses
  • Determine the optimal frequency and level of detail for budget monitoring
  • Involve department staff in overall budget monitoring efforts and hold them accountable
  • Develop a process for proactive response that identifies issues and allows for corrective change
  • Create reports and other tools that communicates key budget information throughout the year

Better Budgeting FAQs

Agenda: