Budget Owner: Difference between revisions
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The | The Board agreed the concept of Budget Owner at the Board meeting on 7th February 2024. | ||
== Board Agenda Role == | |||
Expenditure items defined in the budget must have a budget owner. | Expenditure items defined in the budget must have a budget owner. | ||
A budget owner is responsible for: | A budget owner is responsible for: | ||
* Explaining what the line item expenditure is for | *Explaining what the line item expenditure is for. | ||
* Explaining the rationale for the budget cost/estimate and approved expenditure amounts | *Explaining the rationale for the budget cost/estimate and approved expenditure amounts. | ||
* If asked, confirming that we have received the service/item paid for | *If asked, confirming that we have received the service/item paid for. | ||
A budget owner does not have to be the same person who buys the service or carries out the work | A budget owner does not have to be the same person who buys the service or carries out the work. | ||
== Best Practice Guidelines == | |||
We should aim to adopt the following best practice: | We should aim to adopt the following best practice: | ||
* A budget owner should be a role holder or | *A budget owner should be a role holder or Board member. | ||
* A budget owner should not be the same person that provides the service or item being paid for | *A budget owner should not be the same person that provides the service or item being paid for. | ||
== Links == | |||
*[[Finance Procedures]] | *[[Finance Procedures]] | ||
*[[Finance Policy]] | *[[Finance Policy]] | ||
[[ | [[Category:Organisation & Governance]] | ||
[[Category:Finance]] | |||
Latest revision as of 12:00, 17 July 2026
The Board agreed the concept of Budget Owner at the Board meeting on 7th February 2024.
Board Agenda Role
Expenditure items defined in the budget must have a budget owner.
A budget owner is responsible for:
- Explaining what the line item expenditure is for.
- Explaining the rationale for the budget cost/estimate and approved expenditure amounts.
- If asked, confirming that we have received the service/item paid for.
A budget owner does not have to be the same person who buys the service or carries out the work.
Best Practice Guidelines
We should aim to adopt the following best practice:
- A budget owner should be a role holder or Board member.
- A budget owner should not be the same person that provides the service or item being paid for.
