Improving the world through engineeringwww.imeche.orgImproving the world through engineering 1 RSB Budgeting Process April 2013 RSB Mtg

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 2 December RSB Mtg Agreement at Dec RSB that we should try and move to a Programme year budget basis Today’s presentation considers how we might achieve this and is intended to capture your opinions and agree a way forward…

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 3  Key purpose: Alignment of the Regional budget with the programme year to facilitate more accurate budgeting and overcome the over-budgeting problem currently experienced RSB Programme Year Budget Proposal Jan 2013 Sept 2013 July 2014 Sept 2014 Jan 2015 July 2013 Jan /14 Institution Budget Year Budget Prep 2012/ /15 Visible programme Programme Years Current

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 4 Budgeting Process Comparison Jan 2013 Sept 2013 July 2014 Sept 2014 Jan 2015 July 2013 Jan /14 Institution Budget Year Budget Prep 2012/ /15 Visible programme Programme Years Current Jan 2013 Sept 2013 July 2014 Sept 2014 Jan 2015 July 2013 Jan /14 RSB Budget Year Budget Prep 2012/ /15 Visible programme Programme Years Proposed

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 5  New RSB budget year will run from 1 st September- 31 st August each year  Regional event programmes will have to be sufficiently defined to support accurate budget preparation  We will need your budget submissions by end July latest (mid Budget Prep process shown), ideally sooner?  Budget allocations will be confirmed End August Jan 2013 Sept 2013 July 2014 Sept 2014 Jan 2015 July 2013 Jan /14 RSB Budget Year Budget Prep 2012/ /15 Visible programme Programme Years Proposed RSB Budgeting Process

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 6  For this first transition year, we will need to understand what you expect to have actually spent of your current 2013 budget as at 31 st August Any remaining required but unspent budget from 1 st September 2013 to end 2013 should be included in your new budget submission RSB Budgeting Process

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 7 Worked example  Region X had a 2013 budget of £20k and is anticipating having spent £12k by 31 st August  For the 2013/14 RSB Programme year Region X is estimating a budget requirement of £18k and the notional split of this is:  £7k required: 1 st Sept 2013 to 31 st Dec 2013  £11k required: 1 st Jan 2014 to 31 st Aug 2014  By the end July we would require detail of the £18k programme year budget, any adjustments will then be made to 2013 drawdowns  Any significant forecast variances over the current budget for 2013 will be discussed and settled individually with Regions  2013/14 Budget will be determined and notified RSB Budgeting Process

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 8  RSB budget process will not require further re-budgeting by Regions to support the Institution budget  The RSB feed into the Institution budget will be made handled by RSB Chair and Exec. Regional Chairs will be engaged if any known anomalies exist  It is inevitable that this change will cause some disruption and effort to make it work – but hopefully long term gains through a better budgeting process can be achieved  Proposed that RSB Chair controls a larger discretionary budget over the first year to handle any unexpected budget issues that arise as a consequence of the change, which could impact on regional operation RSB Budgeting Process

Improving the world through engineeringwww.imeche.orgImproving the world through engineering 9 What would success look like? A significantly more accurate Regional budget process that fully supports Regional activity and doesn’t tie up unnecessary Institution funds and a budget process that is in harmony with the planning cycle of regional activity RSB Budgeting Process