Hybrid budgeting process

Text version of hybrid budgeting process flowchart

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The following descriptions of the hybrid budgeting process outline two different approaches as represented on the flowchart.

Top down approach

Finance committee receive planned budget allocation.

  1. Finance committee allocate budget by cost centre
    1. Cost centre managers detail budget entry for OWN cost centre within an allocated amount
      OR
    2. Finance committee detail budget entry for ALL cost centres
  2. Finance committee review budget
  3. Final approval RAM allocation received
    1. Budget approved: No
      1. Finance committee review budget
      2. Cost centre managers determine bottom up budget and enter for own cost centre based on needs.
    2. Budget approved: Yes
      1. Budget finalised in interim eFPT
  4. Budget switches to forecasting in interim eFPT

Bottom up approach

Finance committee receive planned budget allocation.

  1. Finance committee allocate budget by cost centre
    1. Cost centre managers detail budget entry for OWN cost centre within an allocated amount
  2. Finance committee review budget
    1. Cost centre managers determine bottom up budget and enter for own cost centre based on needs.
  3. Final approval RAM allocation received
    1. Budget approved: No
      1. Finance committee review budget
      2. Cost centre managers determine bottom up budget and enter for own cost centre based on needs.
    2. Budget approved: Yes
      1. Budget finalised in interim eFPT
  4. Budget switches to forecasting in interim eFPT
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