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Which of the following is NOT a duty of the budget committee?
• Provision of information to assist in the preparation of the budgets
• Setting timetables for the preparation of functional budgets
• Producing the budget manuals
• Calculation of variances between actual and budgeted resultsDoubt:
Aren’t all of them a duty of budget committee?
Can you please clarify?Calculation of variances is nothing to do with the budget committee.
The budget committee oversees the preparation of the budgets. Variances are not calculated until the end of the period, which is long after the budgets are prepared.
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