Budget Interview

1.      What do you like most about budgeting?

I find it interesting to see where money goes, and trying to figure out how all the puzzle pieces fit together. 

2.      What is the hardest part of budgeting?

The hardest part of budgeting is keeping employees happy when budget cuts are being made.  Sometimes employees don’t understand that the budget cuts being made are done to avoid staff cuts and other significant changes in the work structure. 

3.      What kind of system do you use to keep track of the budget, is it electronic?

I use an excel worksheet that has been created and adjusted over time.  This makes it easy to quickly see what’s going on in the budget quickly. 

4.      What are some ways you try to keep within budget and where are the most budget cuts usually made?

From month to month there are not usually many changes so staying in budget is usually not very difficult.  The largest budget cuts I have had to make are in wages.  This usually results in having to lay-off 1 or 2 employees and then reassigning their workload. 

5.      Do you have a specific approval process you have to go through to get new items added to the budget?

In order to have new items added to the budget I have to explain why this is needed, and justify the increase in the budget according to increased profit.  This process is done with my manager.

6.      What consequences are there if you go over budget?

I have never had a month where I have been way over budget to know what would happen.  But I understand why this could be a serious problem. 

7.      Were you able to create your budget from scratch, or did the administration of your company hand it to you?

Prior to taking this job the budget was already made.  However, I have made adjustments since I started. 

8.      What is the most difficult aspect of budgeting?

Trying to find money that doesn’t seem to exist.

9.      What area/category of budgeting is the hardest to maintain?

The extras (lunches, flowers, drinks, etc) add up quickly, and people don’t understand that at times. 

10.  What is one tip you would give to a new leader on budgeting?

Frequently look at your budget and try to find ways it can be improved upon. 

11.  What area of the budget would people be most surprised by the amount spent?

The extra stuff in the department.  That stuff adds up quickly. 

12.  Is it difficult meeting budget from month to month?

Not usually since most things are fairly consistent.  

When I think about budgeting....actually lets be honest.  I don't like to think about doing budgets, or living by budgets, or talking about budgets.  But that is not reality.  We live every day within a budget, and the jobs we work at have to do the same.  As I was conducting this interview the one thing I was surprised by was expense of extra things.  I see this in may own life but I don't think I have ever applied it to workplace situations.  Every month when I look at the spending of my family I am slightly disappointed in how much money we spent of things of little to no importance.  In a workplace this can also be an area where the expense of little things can add up without even realizing.  

The person I interviewed was my brother.  He has always been a pretty financially savvy person, but by doing this interview I saw a new side of him.  It's funny how when we are wearing the "hat" of our job we can at times become a what seems like a new person.  I know that I see this in myself when I'm at work, but it is interesting seeing a new side of a person who you know well.