Unit of competency
Modification History
Release |
Comments |
Release 1 |
This version first released with BSB Business Services Training Package Version 1.0. |
Application
This unit describes the skills and knowledge required to develop and implement the annual budget and enable the board to control the finances of the organisation.
It applies to individuals responsible for monitoring and planning the organisation’s finances.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Regulation, Licensing and Risk – ATSI Governance
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1 Gather and analyse relevant budget information |
1.1 Establish a budget working-group 1.2 Review and analyse previous year’s budget performance 1.3 Gather budget planning information from relevant sources 1.4 Identify priorities in relation to organisation's vision and plans |
2 Identify and document income and expenditure |
2.1 Identify known sources of income 2.2 Identify new sources of income and amounts for new activities 2.3 Review expenditure for existing operations 2.4 Estimate expenditure for new initiatives and expansions 2.5 Identify potential problem areas 2.6 Ensure procedures are in place to document all identified items in a readily accessible and useful format |
3 Oversee budget preparation |
3.1 Contribute to budget development 3.2 Review budget documentation and clarify where required 3.3 Review draft budgets and propose modifications if required 3.4 Ensure contingency plans are included in the budget |
4 Review and finalise budget |
4.1 Ensure expenditure commitments are in line with final income figures 4.2 Work with other board members and management to finalise and approve annual budget 4.3 Present final annual budget to the community 4.4 Review and update budget regularly |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.2-1.4, 2.1-2.6, 3.1-3.4, 4.1, 4.4 |
|
Writing |
1.4, 2.4, 2.6, 3.1-3.3, 4.2, 4.4 |
|
Oral Communication |
1.1, 4.2, 4.3 |
|
Numeracy |
1.2, 2.1-2.5, 3.1-3.4, 4.1, 4.2, 4.4 |
|
Interact with others |
1.1, 4.2, 4.3 |
|
Get the work done |
1.2-1.4, 2.1, 2.2, 2.5, 2.6, 3.3, 3.4, 4.4 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
BSBATSIM414 Oversee the organisation's annual budget |
BSBATSIM414C Oversee the organisation's annual budget |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10