Rules for Budget Meetings

by Mary Jane; Updated September 26, 2017

Budget meetings are important for smaller businesses and large corporations alike. These meetings discuss how the budget is operating and what changes need to be made to the budget to meet company goals. The meetings also are to design the budget to make the financial standing of the business more appealing to investors and shareholders, for example. Follow basic budget meeting rules to get the discussions going and the budget meeting goals met.

Choose Candidates

Whether the business is large or small, only certain workers in the business should attend the budget meeting. Since the budget will be discussed in detail, most executives do not feel that the budget is relevant for entry-level workers or employees who do not work directly with the budget. Choose meeting candidates such as executives, the CEO, accountants and financial analysts, if these roles are present in the business.

Review Meeting Guidelines

Before the meeting starts, the guidelines or meeting rules should be reviewed. These will differ from each company and each budget meeting, but can include not interrupting when someone is speaking and following the budget agenda. The guidelines are established and should be reviewed for the sole purpose of having a structured budget meeting, where issues are addressed and conflicts are resolved.

Follow an Agenda

An agenda should be written before the budget meeting is held. The agenda will outline the issues that need to be addressed in the meeting. This can include budget restructuring, budget cuts or increasing budget income, for example. The agenda allows candidates to speak about the current issues at hand, rather than discussing irrelevant information, whether it is about the budget or other information about the company.

Listen to Input

Even though executives may have the word for most of the budget meeting as the issues on the agenda are addressed, the floor should be open for other employees attending the meeting. Sometimes a new perspective on a situation can solve some of the primary issues at hand. Ask that input or discussions be addressed at the end of the meeting, when all information has been presented to the candidates.

Set New Goals

One rule that should be present in every budget meeting is setting new goals, once all of the issues have been addressed. Simply recognizing that problems exist in the budget does not help the business move forward. Financial goals help the business move from a non-functional budget to one that is fully operational, for example. Set new budget goals at the end of the meeting with input from every employee present.

About the Author

Based in Toronto, Mary Jane has been writing for online magazines and databases since 2002. Her articles have appeared on the Simon & Schuster website and she received an editor's choice award in 2009. She holds a Master of Arts in psychology of language use from the University of Copenhagen in Denmark.