Unit 2 Preparing & Managing Budget
PREPARING AND MANAGING BUDGET UNIT-2 BUDGET AND BUDGETARY CONTROLS INTRODUCTION Budgeting is one of the main planning activities of an executive housekeeper. It is the process by which, based on the actual performance of establishments in the past, estimates of expenditure and receipts are made and adjusted for forecasting future outcomes. The housekeeping budget typically is presented as part of the room’s division budget. The room division budget is usually the largest in the property, and the housekeeping budget is one of its biggest categories of expense. BUDGET: · A formal statement of the financial resources set aside for carrying out specific activities in a given period of time. · It helps to co-ordinate the activities of the organisation. An example would be an advertising budget or sales force budget. A budget is a plan which projects both the rev...