Budget Interview

1. How often do you review your budget? Monthly, weekly, or yearly basis?

They do weekly profit and loss budget reviews via email with each department manager and then monthly meetings with each department manager in person.

2. If you are over budget, where are adjustments made first?

Cutting costs.

3. How do you determine how much of your budget will be allotted to employee pay, products, or other expenses?

Analyzing prior year budgets, sales forecasts and trends, etc.

4. If you have no problem areas of your budget, what would you say contributes most to being able to stay within your budget?

Continual review, accurate and realistic projections 

5. Are changes in the budget communicated to your employees and staff?

Yes 

6. Who is involved in the process of reviewing the company budget?

Mainly their Financial Controller.

After doing this interview, I don't think I would be very good at determining a budget. It's great that each department manager is involved in the budget and that the other employees and staff and notified of the changes. I have no idea of our budget where I work, but I would be interested to see it.

(I interviewed Jenny from Thrive Life.)