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Planning and Budget Management E N NJOROGE Kenya National Bureau of Statistics 19TH August 2011

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Planning and Budget Management E N NJOROGE Kenya National Bureau of Statistics 19TH August 2011

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    1. 1 Planning and Budget Management E N NJOROGE (Kenya National Bureau of Statistics) 19TH August 2011

    2. 2 What is a budget? Long term objectives are divided into shorter term plans (e.g. 1 yr plans) Plans are the basis of budgets

    3. 3 Definition: What Is A Budget? Financial Plan/Forecast; Itemized Summary (Cost Categories) Monetary Nature Future-oriented With Specific Time Frame Specific Goal.

    4. 4 Purpose: Why Do We Need A Budget? Planning/Forecasting Fund raising Prioritizing and Resource Allocation Coordinating and Organizing Activities Performance Measurement Control

    5. 5 Types of Budgets Capital budget: Vehicles, Equipment, construction, major renovations Income and Expenditure budget (Sometimes, these two are presented as one budget) Cash forecast (Based on the capital and income and expenditure budgets)

    6. 6 Types of costs to consider when preparing a budget: Monthly costs e.g. salaries, utilities Annual costs e.g. insurance, audit Scheduled costs e.g. training costs, multiplication and dissemination etc Unpredictable costs e.g. vehicle repairs (except routine service)

    7. 7 Points to note: Points to Note: Budget should not change without prior authority Cash Forecasting is based on the budget Use the budget for controlling expenditure

    8. 8 How to use the budget

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