Account Budget Approval Form
Account Budget Approval Form
Instructions: Please complete all sections of this form and submit it along with any necessary attachments to the Finance Department by the deadline mentioned above. Incomplete forms or forms submitted after the deadline may result in delays in approval.
Fiscal Year: [Year]-[Year]
Form Issued By: Finance Department
Date Issued: [Month Day, Year]
Approval Deadline: [Month Day, Year]
Department Information
Department Name: [Name]
Department Head: [Name]
Contact Information: [Phone Number]
Budget Request Summary
|
Budget Category |
Requested Amount |
Prior Year Amount |
% Change |
|
Personnel Salaries |
$500,000 |
$480,000 |
+4.2% |
|
Operational Expenses |
$300,000 |
$250,000 |
+20% |
|
Equipment Purchases |
$150,000 |
$100,000 |
+50% |
|
Research and Development |
$200,000 |
$180,000 |
+11.1% |
|
Marketing and Sales |
$250,000 |
$230,000 |
+8.7% |
|
Total Budget Request |
$1,400,000 |
$1,240,000 |
+12.9% |
Detailed Budget Justification
Provide a detailed analysis and justification for each budget category that has a significant change from the prior year. Attach additional sheets if necessary.
-
Personnel Salaries: The increase in personnel salaries is due to planned staff increases to support expanded operations and a general salary adjustment in line with inflation and market standards.
-
Operational Expenses: The rise in operational expenses is attributed to anticipated increases in rental costs for new office space and higher utility rates.
-
Equipment Purchases: The significant increase in this category is due to the need for upgraded equipment to improve operational efficiency and productivity.
-
Research and Development: The increased investment in R&D is aimed at supporting new product development to meet emerging market demands.
-
Marketing and Sales: The enhancement of the marketing and sales budget is designed to expand our market presence and support the launch of new products.
Approval Signatures
This section must be completed by the Department Head and reviewed by the Finance Department. Final approval is given by the Chief Financial Officer (CFO) or designated authority.
Name: [Department Head]
Date:
Reviewed by: [Finance Department]
Date:
Approved by: [CFO/Designated Authority]
Date:
Upon approval, copies of this form will be distributed to the following:
-
Department Head
-
Finance Department
-
Chief Financial Officer (CFO)
-
Human Resources (for personnel-related budget items)
