Build and approve the budget

Step by step

1. Set the planning basis FP&A Director

   FP&A Director opens the cycle and seeds the draft budget versions from the selected baseline. Admin maintains approved driver and formula masters. CFO sets Targets with the correct metric units. Retain the basis before the team begins editing.

   • Open a traceable planning cycle
   • Updates Budget cycles, Budget versions, Drivers, Targets

2. Submit the team plan Cost-Center Head

   Cost-Center Head prepares own budget lines and submits the stable submission revision. Preserve formula comparisons and override reasons. A returned or materially changed submission receives a new revision and cannot reuse an earlier approval.

   • Freeze the proposed revision
   • Updates Budget versions, Budget lines, Driver values

3. Review the planning proposal FP&A Director

   FP&A Analyst records the assigned review and FP&A Director gives the planning decision. Consolidation into V2 keeps the source submissions and explicit budget overrides. Pending Budget Approvals authorizes the exact assigned revision, not any later edit.

   • Record the planning review
   • Updates Approvals, Budget versions, Assumptions log
   ApprovalA person approves before the work moves on.

4. Approve the financial plan CFO

   CFO Budget Decisions contains the financial proposal after the required prior decisions. CFO approves the exact revision. This approval permits board presentation but does not invent a board resolution. Keep the actor, revision and supporting evidence attached to the decision.

   • Authorize the financial proposal
   • Updates Approvals, Budget versions
   ApprovalA person approves before the work moves on.

5. Record board authorization and lock CFO

   FP&A Director applies any board conditions to a draft revision and completes renewed decisions. CFO verifies the recorded external resolution against the final version before Director locks it. The locked baseline remains intact through later forecasts and transfers.

   • Retain the authorized baseline
   • Updates Budget versions, Approvals, Assumptions log
   Approvalfor recorded external board evidence

Cost-Center Head

FP&A Analyst, FP&A Director, CFO, Admin, System.