Finance Budget Meeting Minutes
Finance Budget Meeting Minutes
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Company: |
[your company name] |
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Location: |
[your company address] |
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Prepared by: |
[your name] |
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Date: |
April 15, 2050 |
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Time: |
10:00 AM - 12:30 PM |
Attendees:
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Alice Turner, CFO
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Bob Lee, Director of Finance
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Carol Hughes, Budget Analyst
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David Chen, Marketing Director
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Emily White, HR Manager
Absent:
Greg Brown, CEO (On business travel)
Minutes Prepared By:
[your name], Budget Analyst
1. Meeting Opening
The meeting was called to order at 10:00 AM by Alice Turner, CFO. She welcomed everyone and outlined the primary goals of the meeting: to finalize the budget allocations for the 2051 fiscal year and address any major changes from the previous year.
2. Review of Last Year's Budget
Bob Lee presented a summary of the last year’s budget versus actual spending through a PowerPoint presentation. Key variances were discussed, particularly in the marketing and research departments.
3. Proposed Budget for 2051
3.1 Overview by Department
A detailed proposed budget for each department was provided. Carol Hughes used a table to illustrate the proposed allocations:
|
Department |
Proposed Budget 2051 |
% Change from 2050 |
|---|---|---|
|
Marketing |
$500,000 |
+10% |
|
Research |
$750,000 |
+15% |
|
Operations |
$300,000 |
+5% |
|
Human Resources |
$200,000 |
-5% |
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Total |
$1,750,000 |
+6.25% |
3.2 Discussion
Each department head discussed the impact of budget changes on their operations. David Chen and Emily White expressed concerns over the proposed cuts and increases, respectively.
4. Adjustments and Approvals
4.1 Modifications
After discussions, adjustments were proposed:
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Increase HR budget by $25,000 for additional training programs.
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Decrease Marketing budget by $20,000, reallocating these funds to HR.
4.2 Final Approval
The final budget, with adjustments, was put to a vote and approved unanimously. The revised totals were displayed in a final table:
|
Department |
Final Budget 2051 |
|---|---|
|
Marketing |
$480,000 |
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Research |
$750,000 |
|
Operations |
$300,000 |
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Human Resources |
$225,000 |
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Total |
$1,755,000 |
5. Next Steps
Alice Turner outlined the next steps, including the adjustment of departmental spending plans to align with the new budget. Departments are to submit their detailed quarterly plans by May 5, 2050.
6. Meeting Close
The meeting was adjourned at 12:30 PM. Alice thanked everyone for their contributions.
7. Approval of Minutes
These minutes were approved by Alice Turner, CFO.
Next Meeting: Scheduled for April 30, 2050, to discuss implementation strategies for the new budget.
Date: [Date]
Time: [Start Time] - [End Time]
Location: [your company address]
