Yesterday, I talked about budgets and the fiscal year. Apparently this is not a very sexy topic, since I got zero traffic on my page (first time since I started).
Undaunted, here are a few additional thoughts about budgets and character at our workplace. (I’m sorry, but there is no discussion of sex on this post…if that is why you clicked onto this page)
- The time to discuss a missed budget is before (not after) the monthly reports come out. Take ownership for your decisions. Even if expenses were outside your control (e.g. part costs increased between approval and purchase) show integrity and take responsibility.
- We should treat the finances of the organization in exactly the same manner as if it were our own. If I would not spend $40 of my own money for my lunch, then I should not spend $40 of company money on my lunch.
- If there is budget money left unspent at the end of the project (or period), give the money back to the company rather than considering it “free money” for equipment or services. If we give $20 to our kids for ice cream, don’t we expect them to give us back the change? The company has not given you a blank check.
- Do not waste company time and money to charge $6.47 to another department. It costs far more than that to process the paperwork.
- The financial processes are complicated systems. People make mistakes. Invoices and paperwork can get lost.
- Do not assume it always works
- When it doesn’t work, do not assume others are dishonest
- Over time, our bosses learn who can (and who can’t) be trusted with company funds.
Thanks for listening.