Well, somehow my Fiscal Year 2008 Operating Budget made it through the review by the board of directors with flying colors and was approved without qualification last Friday!
Interestingly, the "big picture" of how the budget directly affects operations didn't become clear to me until we released the approved budgets for next year to each of the department heads. The speed and intensity with which people reacted took me completely by surprise; I literally felt like I was being assaulted by the number of emails in my inbox.
As I started to deal with the inquiries, which ranged from dumbfounded to downright abusive, I immediately began noticing some rather glaring errors that I had made, mostly related to staffing and Salary, Wages and Benefits (
SWB) figures... so naturally, the one section people absolutely cannot miss and understandably get the most upset about.
Fortunately, the accounting department, which wasn't too sharp to begin with, is about to start a massive system overhaul of their software from the current "
shortbus"
iFinancial to the new "more expensive but at least US standard
shortbus" E-1 Financial. How does this translate into a windfall for me? Well, I'll tell you. Basically, all the old account mapping, the system that assigns revenue and expenses to each department, is being updated to meet US standards, which over the course of the next year, means it will be virtually impossible for anyone to tell whether the figures that are being generated and spit out by the computer have anything even remotely in common with the figures I budgeted.
As my good friend Jason Link likes to say, "
Bango!" (It's kind of like "Jackpot!" but more dramatic... it makes a lot more sense after a few non-kiddie cocktails.)