While I am not privy to specifics of my organization’s finances, Asset Management has a strict budget that we have to manage appropriately and we have certain approvals that must be granted in order to place larger orders. This policy is not always in effect, but we do have capital expenditure restrictions depending on how far from our financial goals we are each quarter. Our finance team does a fairly good job in keeping the average co-worker up to date on how our Ministry’s finances are being handed and how successful we are in reaching our goals.
While I am not privy to financial decisions before they are made, Asset Management is given a specific set of budgets each year to manage mostly at their own discretion. There are some capital expenditure restrictions that are made from time to time, but those are based on the successes and growth opportunities our Ministry may encounter from quarter to quarter. Our finance team does a fairly good job in keeping the average employee aware of important financial information.
I work in state government as part of the fiscal team, so I have a strong understanding of our organization’s finances, including budgeting, tracking expenditures, and ensuring compliance with financial policies.