Control production expenditure
Overview
Performance criteria
You must be able to:
brief production team members about expenditure control and monitoring systems at appropriate times
confirm that relevant people are clear on how to produce expenditure reports and associated information
confirm that heads of department have current information about available budget, spending and procedures to follow when they anticipate variations or overspends
allocate responsibility for monitoring and controlling expenditure to appropriate people
authorise expenditure in line with production procedures
ensure that expenditure details are recroded in an appropriate and compatible computer-based package
check that expenditure detailed in reports is within budget
discuss variations in budget with production accountants when appropriate
provide accurate and up-to date financial reports when required
report progress against budget to relevant colleagues on the production
use reliable and consistent methods of monitoring expenditure against agreed budgets
anticipate areas of potential overspend from information provided in daily expenditure reports
negotiate and agree any required variations between or within budget headings to meet budget constraints
record a clear summary of agreed actions
communicate decisions about budgets to appropriate people without delay
Knowledge and Understanding
You need to know and understand: