A budget committee is a collection of individuals who come together to discuss, plan and improve a budget that serves a greater majority. A budget committee is common in universities and schools for student council and in community groups, where budgets serve the individuals who contribute to the programs and services offered in the community.
Listen to Suggestions
One of the main functions of a budget committee that is often overlooked is the task of listening to members in the group the budget committee is serving. For example, people in a given community may like to see some changes made in the budget and must bring this to the attention of budget committee members. It is the task of committee members to listen to these changes and take them under consideration, whether the personally members agree with the changes or not. Since the budget committee is dealing with other people’s money, it is their responsibility to listen and receive valuable feedback.
Identify and Discuss Issues
It is the budget committee’s responsibility to identify and deal with any issues or problems that may appear in the budget. For example, if the committee has spent too much money over a period of time, it is the budget committee’s responsibility to inform members of the committee of the budget’s issues and discussing these troubles with committee members.
The budget committee has the responsibility of administering the money in the budget to serve the people in the chosen group, whether they are members of the community or students, for example. Knowing what the goals of the specific group or community are and how the money is administered, the budget committee can plan ahead and make changes to benefit the group in question. For example, if the student group’s plan is to host more student events to educate students about career planning, the budget can be designed to pull in more funds, so more events can be hosted. The budget committee can suggest offering more bake sales or hosting charity events to get additional funding.
Benefiting Company or Community
The changes or adjustments that the budget committee makes after much research or evaluation must benefit the company, group of students or community the budget is serving. For example, if the budget is serving a specific community group with a set of goals or programs, like helping those in need, the budget must reflect these individual goals. It is the responsibility of the budget committee to ensure the goals are met and that feedback is taken into consideration when the changes or alterations are made.