Managing a Budget for the first time

 Managing a budget for a first time can be a daunting experience. This anxiety may manifest in a range of ways that might get in the way of effective management (such as avoidance, inefficiency etc.)

This one day course, led by a social carer and a financial manager aims to help participants understand the need for effective budget management and the principles that underpin effective financial management.
Learners are asked to bring a calculator and a ruler.

The course objectives:

By the end of this training participants should understand:

• What is meant by a ‘budget’
• What is meant by ‘budget management’
• Why we need to work within a budget
• How effective budget management impacts on the quality of the service being offered to service users
• How poor budget management can impact on service users-an ethical issue
• Accountability issues:
        -who we are accountable to
        -systems that ensure accountability
• The need to be realistic: Considering the balance between income and expenditure
• The importance of record-keeping: how to identify what has been spent/committed
• The basic expenditure of the service that is non negotiable
• Expenditure that would be desirable but not essential
• What is meant by ‘contingency’ and contingency funds
• What the organisation expects from managers in terms of budget management
• How to work with a prescribed budget
• The need to use resources effectively
• The procedures for the management of a budget
• The need to review and learn from the previous budget

Training methods:

• Tutor presentations
• OHP/PowerPoint
• Handouts
• Case examples
• Discussion
• Group work
• Practical exercises
• Word shower method

CP65/4.9