Top tips are provided for budgeting and forecasting. They include: (1) scheduling time for budgeting by allocating time in calendars and working back from budget meetings; (2) creating a forecasted end of year position to compare to the budget by forecasting complete months and being realistic; and (3) not being afraid to start budgeting again from scratch if the current budget is inaccurate or vastly different than actuals using a zero-based budgeting approach.

1. Top Tips for Budgeting
and Forecasting
Hannah Driver, Senior Accountant

2. Common
Budgeting
Worries
● No support
● Lack of Time
● Issues with current
budget
● Uncomfortable with
the budgeting
process

3. 1) Schedule Time
Allocate specific time in your diary

4. ● Budgeting is an important task that
requires dedicated time
● Work back from your scheduled
budget meetings

5. ● Delegate/involve other people where
possible
● Set clear deadlines for other
committees/departments

6. 2) Forecast
Create a forecasted end of year position
to compare to the budget

7. ● Forecast for complete months
● Be realistic

9. ● Compare the forecast to the budget
● Remember to consider one-off or
unexpected items

10. 3) Don’t be afraid to start
again
Does your budget need revamping? Is
it inaccurate?

11. Zero-based budgeting
● Starting from scratch
● Not based on previous budgets

12. ● If current budget is inaccurate and
vastly different to actuals
● For specific projects or new elements
of the budget

13. 4. Make Notes
Keep records of the decisions made

14. Notes are key for budget lines that:
● Have changed considerably
● Are estimated
● Are made up of multiple elements

15. Keep notes throughout the year:
● Specific costs
● One-off/unexpected items
● Changes to the budget

16. 5) Monitor the Budget
The budget process is not just about
setting the precept

17. ● Important to have regular budget
meetings
● A good cashbook based on the budget
is key

18. ● Important for all members of the
council to understand the budget

19. 1) Schedule Time
2) Forecast
3) Don’t be Afraid to Start Again
4) Make Notes
5) Monitor the Budget

20. Sign up at Scribe Academy for:
‘Take Control of your Budgeting and get to grips
with Forecasting for Town and Parish Councils’
● Wed 21st September 2pm
● Fri 14th October 10am
● Thurs 10th November 11am