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I've just taken on a new role where I'll need to write an annual budget for the hotel.

I've been involved in the process before, and have managed my own sales and cost budgets, but never actually set a full budget for a financial year.

I'm a high C, so I like to prepare - any good books/resources etc you could share, "Writing a Budget For Dummies"? perhaps?!

 

jrb3's picture

Lean on your finance folks for aid.  They've been through this far more often than you.

For an ongoing concern, things look similar year-to-year.  Differences reflect both continuing reaction to past events, and declarations of intent of future activity.  Allocating money is part-and-parcel of realizing necessary change, setting priority for what the organization values, and preparing for future uncertainties.

An in-the-small analogy would be your household's budget and actuals.  If you're not the one handling the household finances, spend time with your significant other (or whomever handles it) to learn more.