How to Set a Budget Meeting

Thinkstock/Comstock/Getty Images

Budget meetings are important because they allow you to present to your boss or superiors where your project stands in terms of its budget. In the meeting you can discuss possible increases or decreases to your allotted budget and suggest ways to reduce costs to keep your budget on track. Budget meetings also allow you to plead your case for more funding for your project or work. Overall budget meetings determine how a department or the company is doing financially, and set goals and limits for controlling the money and remaining profitable. It is relatively easy to set up a budget meeting.

Determine who should attend the budget meeting. Typically, you should invite your company's CFO, VP of finance or other person on the company management team that is in charge of finances. If you work for a larger company, invite the person in your office who manages the money, like a controller or the manager of the accounting department. You should also invite your boss, the project manager and any other senior staff members connected to your project or department.

Check the schedules of everyone you are inviting to the meeting. Look for common openings when everyone is scheduled to be in town and at the office. Some office tools, like Microsoft Outlook, allow you to view schedules and availability of other co-workers. If you cannot access everyone's schedules, ask their assistants or the individuals themselves what their upcoming availability looks like.

Choose a duration for the meeting, such as 30 or 60 minutes. Allow enough time to present the budget information and leave room for questions and discussion time. If you think it will take you an hour to present the budget information, pick a duration of 90 minutes to allow for extra time.

Pick a day and time for the meeting based on when everyone is available and the duration of the meeting. If your meeting will last 90 minutes, choose the first 90-minute time slot when everyone is available.

Send out a meeting request notification via email, and ask that all recipients reply to indicate whether they accept the meeting request or are unable to make it. Or, set the meeting the old-fashioned way by booking it in person or through the attendee's assistant. When you request the meeting either in person or by email, briefly provide a high-level overview of the meeting agenda: budget cuts, financial reports, budget status and so on.

Reschedule the meeting if people who need to be there are unable to attend. Choose the next available slot when financial supervisors and other necessary people are available for the planned duration of the meeting.

Remind all attendees about the upcoming meeting that week or that morning. If you sent the meeting request via email, the software might automatically remind attendees with an electronic notification.

Tips

  • Set recurring budget meetings to meet with the same people every month or week to discuss project or department budgets.

References

About the Author

Chris Newton has worked as a professional writer since 2001. He spent two years writing software specifications then spent three years as a technical writer for Microsoft before turning to copywriting for software and e-commerce companies. He holds a Bachelor of Arts in English and creative writing from the University of Colorado.

Photo Credits

  • Thinkstock/Comstock/Getty Images