“…that is the question”
What are a few things you may need?
A map is one of the key elements of planning your trip A current and accurate map will plan the route Will highlight obstacles along the course And get you to your final destination X
Develop an analytical tool for making decisions related to centralization or decentralization. Budget Management
Identify Need and Overall Goal: Budget Management: Segregation of Duties Accountability Internal Controls Funds Management Can use a worksheet to help identify and organize goal.
Understand the Current Process What areas will be Impacted? Business Affairs Office Purchasing Payroll Financial Analyst Printing Catering Users Developers UO Mission Statement Unit Mission Statement
Should Budget Management be centralized? Review data from Fact Finding Phase Identify Leverage Points Identify Inefficiencies Consider impact on culture change Advantages & Disadvantages
Are Resources available? Operating Budget (long term costs) Business Practices Monitoring & Reporting Personnel Impact Implementation Costs (software, training) Is it Feasible & Practical
Review all Phases and Make the Decision
University MissionStrategic Plan Operating Budget Accounting Standards Performance Measures Capital Budget Business Practices Audits Debt Policy Internal Controls Monitoring & Reporting How mission is carried out Align resources to fulfill plan Put resources into action Monitor results against plan
Centralize Budget Management: Segregation of Duties Accountability Internal Controls Funds Management Centralized Budget Management System Centralized Budget Management System