Delegating budgets to others
Delegating budgets can help to give budget responsibility to those who are best placed to control costs. But be careful as without proper training and organisation the results can be disastrous.
What is the best way to delegate and ensure that those with budget responsibility are appropriately trained to do the job to their best ability?
By delegating budgets, we are delegating authority and responsibility. Ideally authority and responsibility should go to the managers who can make the best decisions. You should not aim to delegate budgets with the idea of getting rid of work and problems!
Some people believe budgets should be left to accountants, but who is it that you want to be making the ...