National Occupational Standards in
Archaeological Practice

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AJ14 Manage finance in the business unit

AJ14.2 Control expenditure against budgets

Performance Required

This will involve:

1. Giving team members clear and consistent advice on how they can help to control expenditure
2. Giving team members opportunities to take individual responsibility for monitoring and controlling expenditure
3. Ensuring that your methods of monitoring expenditure are reliable and comply with organisational requirements
4. Monitoring expenditure against agreed budgets at appropriate intervals
5. Controlling expenditure in line with budgets and organisational requirements
6. Ensuring that the corrective action you take in response to actual or potential significant variations from budget is prompt and complies with organisational requirements
7. Referring requests for expenditure outside your responsibility promptly to the appropriate people
8. Ensuring that your records of expenditure are complete, accurate and available to authorised people only

Occupational Context

1. Monitoring
   • by considering oral information
   • by considering written information
   • by examining financial information.
2. Expenditure
   • supplies
   • people
   • overhead expenses
   • capital equipment
3. Corrective action
   • altering activities
   • rescheduling expenditure
   • altering budget allocations within the limits of your responsibility
   • renegotiating budgets.

Knowledge Requirements

You need to know and understand how to:

• Advise, encourage and motivate team members to help in controlling expenditure.

You need to know about:

Information handling

• The principles of confidentiality in relation to budgets - what information may be provided to which people

Involvement and motivation

• The contributions your team members can make to expenditure control

Organisational context

• Your organisation's requirements for expenditure control
• The range of variations from the budget which may occur and what effective corrective action to take in response to these
• The types of requests for expenditure outside your control which are likely to occur and the correct procedures to follow in response to these.

Resource management

• The importance of effective expenditure control to your team and organisation's efficiency and your role and responsibilities in relation to this
• The principles and systems which underpin effective expenditure control
• The importance of accurate and comprehensive record keeping to expenditure control and systems to achieve this

Required Skills

You should demonstrate:

• Financial data analysis

Evidence Required

You should provide evidence that you can control expenditure against budgets

The candidate should be questioned, based upon the documentation provided, to explore how they:

• control expenditure against budgets.

Evidence Rules

The candidate should have been involved in managing the finance in the business unit over a period of time

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Today's date: 21/11/2008
This page last updated: 6/8/2007 10:58