ELEMENTS 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Allocate budget resources.

1.1. Allocate funds according to budget and agreed priorities.

1.2. Discuss changes to income and expenditure priorities with relevant colleagues prior to implementation.

1.3. Consult with and inform relevant personnel about resource decisions.

1.4. Promote awareness of the importance of budget control.

1.5. Maintain detailed records of resource allocation according to organisational control systems.

2. Monitor financial activities against budget.

2.1. Identify and use relevant financial records to check actual income and expenditure against budget.

2.2. Ensure accuracy of reference records for monitoring purposes.

2.3. Identify and report deviations according to significance of deviation.

2.4. Investigate appropriate options for more effective management of deviations.

2.5. Advise relevant colleagues of budget status in relation to targets.

3. Identify and evaluate options for improved budget performance.

3.1. Assess existing costs and resources and proactively identify areas for improvement.

3.2. Discuss desired budget outcomes with relevant colleagues.

3.3. Undertake appropriate research to investigate new approaches to budget management.

3.4. Define and communicate the benefits and disadvantages of new approaches.

3.5. Take account of impacts on customer service levels and colleagues in developing new approaches.

3.6. Present clear and logical recommendations for budget management.

4. Complete financial and statistical reports.

4.1. Complete financial and statistical reports within designated timelines.

4.2. Prepare and present clear and concise information to enable informed decision making.

Foundation skills essential to performance in this unit, but not explicit in the performance criteria are listed here, along with a brief context statement.

SKILLS 

DESCRIPTION 

Reading skills to:

• interpret business and financial documents.

Writing skills to:

• document clear recommendations based on budget information and reports.

Oral communication skills to:

• discuss budget requirements and seek and provide feedback.

Numeracy skills to:

• interpret and use budget figures in day-to-day work operations
• calculate budget estimates and scenarios for performance improvement.

Problem-solving skills to:

• identify budget deviations and deficiencies and develop options for improved budgetary performance.

Teamwork skills to:

• discuss desired budget outcomes with team members and provide direction on resource use.