Approving the annual operating budget is one of the key oversight functions of the entity’s governing board in carrying out its fiduciary duties to the entity. In many organizations, the controller is involved in the budget creation process. The process that organizational managers undertake to develop the budget proposal and submit it to the board for approval varies depending on the organization’s size, structure, and culture.
Budgetary Considerations
A robust budgeting process can help improve an organization’s ability to achieve