USA Budget Followup & Feedback

[JR.]

Hello,

I have recently completed 2021 budget. As a Finance Process Manager, I will follow up with the broader group to understand how things went.

I would like to hear from others and get a better understanding of what you ask your teams following the budgeting process.

Below are some follow up questions I’m thinking of as I type this:

• How timely was corporate guidance?
• Were the budget instructions helpful?
• What were pain points using the budget workbook or while using Smartview?
• What can be improved?
• What was better this year compare to last year?
• Did you have enough meeting time with your sites?

I will have more but curious what discussions or questions do you ask following your own budgeting process.

thanks in advance

 

[kirby]

I asked this of someone who did budgets for a Fortune 500 company. Answer was "A follow up review sounds like a great idea. Unfortunately we never had the time to do such a thing. Once the budgets were obtained and compiled, the results were given to senior mgmt. Sr Mgmt usually always wanted a more aggressive result so we then had to re-work the budget down through all the various dept levels. Then summarize back up again. When all was done it was time for a new budget cycle."