Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

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

Skill 

Performance 

Criteria 

Description 

Reading

1.2-1.4, 2.1-2.6, 3.1-3.4, 4.1, 4.4

• Evaluates and interprets information from a range of relevant sources and identifies relevant and key information

Writing

1.4, 2.4, 2.6, 3.1-3.3, 4.2, 4.4

• Prepares strategic business documentation incorporating appropriate vocabulary, grammatical structure and conventions appropriate to text and audience

Oral Communication

1.1, 4.2, 4.3

• Participates in verbal exchanges using clear language, suitable syntax and tone to address and disseminate information to a variety of individuals
• Uses active listening and questioning to convey and clarify information

Numeracy

1.2, 2.1-2.5, 3.1-3.4, 4.1, 4.2, 4.4

• Interprets numerical information and applies mathematical calculations to develop and implement an organisation’s annual budget

Interact with others

1.1, 4.2, 4.3

• Selects the appropriate form, channel and mode of communication for a specific purpose relevant to own role
• Cooperates with others as part of familiar routine activities and contributes to specific activities requiring joint responsibility and accountability

Get the work done

1.2-1.4, 2.1, 2.2, 2.5, 2.6, 3.3, 3.4, 4.4

• Applies formal processes when planning more complex tasks, producing plans with logically sequenced steps, reflecting some awareness of time and resource constraints and the needs of others
• Automatically implements standard procedures for routine decisions
• Initiates standard procedures when responding to familiar problems within immediate context
• Understands and explicitly applies some basic principles of analytical and lateral thinking

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

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.