DEPARTMENTAL BUDGET MONITORING CHECKLIST

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--- BUDGET SETUP & BASELINE VERIFICATION ---
[ ] Budget Period Start Date
[ ] Budget Period End Date
[ ] Target Department (Marketing, Operations, Sales, Human Resources, IT / Engineering, Finance)
[ ] Total Approved Budget Amount
[ ] Verified Cost Centers (Personnel Costs, Software & Subscriptions, Travel & Entertainment, Office Supplies, Marketing Spend, Capital Expenditures)
[ ] Approved Budget Master Document
[ ] Verification Notes & Discrepancy Comments
[ ] Budget Controller Approval

--- MONTHLY VARIANCE ANALYSIS ---
[ ] Analysis Period
[ ] Total Budgeted Amount
[ ] Total Actual Expenditure
[ ] Variance Amount
[ ] Variance Status (Favorable, Unfavorable)
[ ] Root Cause of Variance
[ ] Supporting Financial Reports
[ ] Department Head Approval

--- EXPENSE TRACKING & CATEGORIZATION ---
[ ] Transaction Date
[ ] Vendor Name
[ ] Transaction Amount
[ ] GL Account Category (Travel & Entertainment, Office Supplies, Software & Subscriptions, Marketing & Advertising, Professional Services, Utilities & Rent)
[ ] Budget Impact Flags (Over Budget, Unexpected Expense, Recurring Cost, One-time Cost)
[ ] Receipt or Invoice Attachment
[ ] Expense Justification/Notes

--- FORECAST & RE-FORECASTING REVIEW ---
[ ] Forecast Review Date
[ ] Projected End-of-Year Spend
[ ] Forecast Accuracy Status (On Track, At Risk, Significant Variance)
[ ] Notes on Forecast Adjustments
[ ] Updated Forecast Spreadsheet
[ ] Department Head Approval

--- VARIANCE EXPLANATION & DOCUMENTATION ---
[ ] Review Date
[ ] Variance Severity (Low, Medium, High, Critical)
[ ] Variance Amount
[ ] Root Cause Analysis
[ ] Corrective Action Plan
[ ] Supporting Evidence (Invoices/Receipts)
[ ] Department Head Approval

--- COMMITMENT & ACCRUAL REVIEW ---
[ ] Review Period End Date
[ ] Total Outstanding Purchase Orders Value
[ ] Unprocessed Commitments Identified (Open Purchase Orders, Uninvoiced Deliveries, Signed Contracts/SOWs, Pending Requisitions)
[ ] Description of Necessary Accruals
[ ] Supporting Documentation (Invoices/Contracts)
[ ] Department Head Approval

--- BUDGET REALLOCATION & TRANSFER APPROVAL ---
[ ] Transfer Reference Number
[ ] Source Cost Center
[ ] Destination Cost Center
[ ] Transfer Amount
[ ] Reason for Reallocation
[ ] Effective Date of Transfer
[ ] Approval Status (Pending Approval, Approved, Rejected)
[ ] Supporting Documentation (e.g., Approval Email/Form)
[ ] Department Head Approval

--- REPORTING & STAKEHOLDER COMMUNICATION ---
[ ] Report Distribution Date
[ ] Report Recipient (Department Head, Finance Director, CFO, Operations Manager)
[ ] Distribution Channels (Email, Work OS Dashboard, Management Meeting, Shared Drive/Cloud Folder)
[ ] Final Budget Variance Report
[ ] Summary of Key Insights
[ ] Reviewer Approval

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