Workflow Templates: Budget Preparation checklist

Review organizational goals and objectives for alignment with budgeting priorities

Determine the availability of funds and resources for the upcoming fiscal period

Establish budgeting roles and responsibilities across the organization

Analyze past revenue trends and adjust forecasts for expected changes

Consider market conditions, economic indicators, and industry trends

Consult with sales and marketing teams to estimate potential revenue

Identify fixed and variable costs based on historical data and future projections

Evaluate potential cost-saving measures without compromising quality or productivity

Allocate funds for unexpected expenses and contingencies

Prioritize capital projects and purchases based on strategic importance and return on investment

Estimate the costs and funding sources for each capital expenditure

Plan for depreciation and maintenance costs associated with new capital assets

Prepare a cash flow forecast to ensure sufficient liquidity throughout the year

Identify potential cash flow challenges and plan for short-term financing if required

Monitor accounts receivable and payable to maintain healthy cash flow

Develop key performance indicators (KPIs) to track budgetary performance

Set up a reporting system to regularly review financial performance against the budget

Plan for regular budget reviews and adjustments in response to performance data

Budget Preparation checklist