Finance Budget Meeting Minutes

Date: [Month Day, Year]

Time: [Time]

Location: Conference Room 3

Chairperson: [Your Name]

Minute Taker: [Name]

---

Attendees:

Name	Position	Email	Phone
John Wilkins	CFO	[email protected]	555-0102
[Name]	Budget Analyst	[Email]	[Phone]
[Name]	Project Manager	[Email]	[Phone]

---

Agenda:

1. Review of Previous Budget Performance

2. Discussion of Upcoming Budget Proposals

3. Allocation of Funds for New Projects

4. Cost-Saving Initiatives

5. Any Other Business
   

Discussion Points:

1. Review of Previous Budget Performance

a. Last quarter's budget was underutilized by 10%, primarily in marketing.

b. Achieved 95% of targeted financial goals.

2. Upcoming Budget Proposals

a. Proposal for a 5% increase in R&D budget.

b. Suggestion to reduce marketing budget by 8%.

3. Allocation of Funds for New Projects

a. Proposal for Project X with an estimated cost of $50,000.

b. Discussion on ROI estimates for Project X.

4. Cost-Saving Initiatives

a. Proposal to switch to LED lighting to save on energy costs.

b. Review of telecommuting policy to reduce office expenses.

5. Any Other Business

a. Proposal for staff training on financial management.

Decisions Made:

---

Agenda Item	Decision	Amount Allocated [$000.00]
Upcoming Budget Proposals	Approved 5% increase for R&D	$20,000
New Project Funding	Approve funds for Project X	$50,000
Cost-Saving Initiatives	Implement LED lighting	$5,000

---

Action Items

Item	Responsible Person	Deadline
Finalize Q2 Budget	John Smith	Apr 15, 2050
Prepare Report on Project X Funding	[Name]	[Date]
Implement LED Lighting	[Name]	[Date]

---

Next Meeting:

Date: [Date]

Time: [Time]

Location: Virtual Platform

---

Additional Notes:

• The meeting highlighted the need for tighter budget controls, especially in the marketing department.

• [Name] raised concerns about the underutilization of funds in some areas, suggesting a more detailed quarterly review.

• There was a unanimous agreement on the potential of Project X to bring in significant revenue, justifying its high initial cost.

• The energy-saving measures were well-received, with an estimated annual saving of $12,000.

• The possibility of introducing a staff training program in financial management was discussed, with a decision to be made in the next meeting.
  

Finance Templates @ Template.net