Welcome to my newsletter “Behind the Numbers”.

A fortnightly newsletter where I share tips for Budget Owners on how to run your budget more effectively. I may also share an interesting sporting stat along the way.

For those of you who know my story you’ll get why numbers and sport are so much part of who I am.

Own Your Budget – Being a Budget Owner Can Be Lonely

Being a budget owner can feel lonely most of the time.

“Where do we take that money from?”

“If you don’t spend that before end of financial year, you will lose it”

“The buck stops with me”

Does this sound familiar?

Now more than ever, organisations need to foster a cost conscious mindset. And as a budget owner, you can’t do it on your own. You need the support from those around you.

Who are the budget owners in your organisation?

The most common level of budget ownership in an organisation is at a Cost Centre or Department level.

You may also have a budget owner who is responsible for a budget in one of the following areas:

1. market segment (e.g. state or territory)

2. cost line (e.g. training)

3. Vendor

4. Project / Program

5. Job / Task

Another way to think of it is…

Who is making the decisions when it comes to the allocation of resources. And, these decisions should be made by the people with the knowledge and understanding of the impact of the decision.

Everyone is a budget owner at some level in an organisation. Understanding this is a great starting point.

Own your budget so it doesn’t own you.

PS: Want to start understanding who the budget owners are in your organisation? When you are ready, let’s have a chat.

One sporting stat

Rafael Nadal lost his opening round match at the French Open Tennis Championship this week. It could be the last time that Nadal graces the centre court at Roland Garros. Over 20 years, Nadal has won 14 French Open titles, with a winning percentage of 97%

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