Highlight the good and the bad of the budget, including a brief discussion of how the budget can get back on track with a few adjustments.
Create a list of the items that are part of the budget. Update the budget model.
See Resources below for more tips and help on budget reports. Print the memorandum.
Step 6: Add up all the expense items you have listed This total is what you would like to spend to run your organization. Some companies practice this endeavor on a quarterly basis and make budget adjustments as necessary.
Briefly highlight the steps you have taken to optimize your budget, steps you plan to take to bring overages back within budget, and any items that cannot be fulfilled within the current budget. Budget reports are also read by outsiders, such as stockholders and investors.
Write a short description of each item in both lists. Review the budget. This is your budget-to-actual ratio. It evaluates product lines, services and other items of revenue for potential increases for completing the next fiscal year budget.