Unit of competency Outline
Date retreived
23/07/2026 11:39 AM AWST
23/07/2026 11:39 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Prepare a budget
Prepare a budget
Unit of competency
National Code
LGACOM503B
LGACOM503B
State Code
C1908
C1908
TGA Status
Deleted
Deleted
DTWD Status
Deleted
Deleted
State Implementation and Classification
Approved Date
15/08/2014
Field of Education
080101 - Accounting
Original Release Date
15/08/2014
Nominal Hours
40
Description
This unit covers the development and finalisation of a budget. The unit is appropriate for council staff responsible for the preparation of budgets in their capacity as supervisors, departmental managers or project managers.
Notes
Elements and Performance Criteria
1. Collect and collate relevant data
- 1.1.Data required for budget preparation is identified and accessed.
- 1.2.Previous budgets and the financial implications of council's current activities and plans are analysed and evaluated.
- 1.3.Relevant people are consulted and given the opportunity to contribute to the budget planning process.
- 1.4.Possible changes of circumstance that will impact on the budget are identified.
- 1.5.Any anomalies in the information received are checked with the appropriate person.
2. Justify proposals for expenditure
- 2.1.Estimates of costs and benefits are made that are supported by valid and relevant information.
- 2.2.Assessments of alternative courses of action are considered in making the final recommendations.
- 2.3.Appropriate members of staff are encouraged to contribute to the recommendations.
- 2.4.The net benefits likely to be achieved from the expenditure are clearly indicated.
- 2.5.Possible future variations in levels of activity are taken into account.
- 2.6.Recommendations are presented clearly, concisely and in an appropriate format.
- 2.7.Where challenges to the proposal are made, further explanation is given to promote acceptance.
- 2.8.Estimates are compared with actual costs and benefits and used to improve future calculations.
3. Seek out alternative or additional financial opportunities
- 3.1.Effective and comprehensive methods for discovering alternative or additional sources of funding or income are employed.
- 3.2.Sources of funding or income are assessed to ensure they comply with council objectives and policies.
- 3.3.Management/council approval for funding submission or income-generating activity is obtained where necessary.
- 3.4.Funding proposals are prepared and submitted.
4. Prepare draft budget for comment
- 4.1.The draft budget is prepared to accurately reflect the financial requirements of the department, service or council.
- 4.2. he draft budget is clear and accurate and presented in an appropriate format.
- 4.3.Income and expenditure estimates are clearly identified and are supported by valid, reliable and relevant information.
- 4.4.The draft budget is prepared consistent with council objectives and ensures the efficient and effective operation of council in the short, medium and long term.
- 4.5.The draft budget is completed within required time frame.
- 4.6.The draft budget is circulated to appropriate people for comment.
5. Prepare final budget
- 5.1.Comments on draft budget are considered and relevant people are advised of implications.
- 5.2.Required modifications to draft budget are agreed and incorporated.
- 5.3.Proposed budget is completed in required format within required time frame.
- 5.4.Proposed budget is negotiated through appropriate budgetary meeting.
- 5.5.Relevant people are informed of budget requirements in a timely and accurate manner.
The Range Statement relates to the Unit of Competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the Performance Criteria is detailed below.
Budget may include:
departmental budget
budget for a particular service or project
operational income and expenditure
strategic and management plan objectives
cash flow management
asset replacement
asset sales
entrepreneurial ventures and available revenue sources
Relevant people may include:
public, when budget is made available for public comment
other council staff
Data may include:
previous budget
employee costs
overhead costs
council policy
Budget may include:
departmental budget
budget for a particular service or project
operational income and expenditure
strategic and management plan objectives
cash flow management
asset replacement
asset sales
entrepreneurial ventures and available revenue sources
Relevant people may include:
public, when budget is made available for public comment
other council staff
Data may include:
previous budget
employee costs
overhead costs
council policy
Overview of assessment requirements
A person who demonstrates competency in this unit will be able to perform the outcomes described in the Elements to the required performance level detailed in the Performance Criteria. The knowledge and skill requirements described in the Range Statement must also be demonstrated. For example, knowledge of the legislative framework and safe work practices that underpin the performance of the unit are also required to be demonstrated.
Critical aspects of evidence to be considered
This unit requires the preparation of budgets with particular demonstration of:
budget development in accordance with established financial and accounting standards and council policies, procedures and time lines
effective and efficient operations as a result of the budget preparation.
Context of assessment
Assessment of performance requirements in this unit should be undertaken within the context of the local government framework. Competency is demonstrated by performance of all stated criteria, including the Range of Variables applicable to the workplace environment.
Method of assessment
The following assessment methods are suggested:
observation of the learner performing a range of workplace tasks over sufficient time to demonstrate handling of a range of contingencies
written and/or oral questioning to assess knowledge and understanding
completion of workplace documentation
third-party reports from experienced practitioners
completion of self-paced learning materials including personal reflection and feedback from trainer, coach or supervisor.
Evidence required for demonstration of consistent performance
Evidence should be gathered over a period of time in a range of actual or simulated management environments.
Resource implications
Access to a workplace or simulated case study that provides the following resources:
relevant financial and accounting standards
council policies and procedures
financial data
relevant computer software.
A person who demonstrates competency in this unit will be able to perform the outcomes described in the Elements to the required performance level detailed in the Performance Criteria. The knowledge and skill requirements described in the Range Statement must also be demonstrated. For example, knowledge of the legislative framework and safe work practices that underpin the performance of the unit are also required to be demonstrated.
Critical aspects of evidence to be considered
This unit requires the preparation of budgets with particular demonstration of:
budget development in accordance with established financial and accounting standards and council policies, procedures and time lines
effective and efficient operations as a result of the budget preparation.
Context of assessment
Assessment of performance requirements in this unit should be undertaken within the context of the local government framework. Competency is demonstrated by performance of all stated criteria, including the Range of Variables applicable to the workplace environment.
Method of assessment
The following assessment methods are suggested:
observation of the learner performing a range of workplace tasks over sufficient time to demonstrate handling of a range of contingencies
written and/or oral questioning to assess knowledge and understanding
completion of workplace documentation
third-party reports from experienced practitioners
completion of self-paced learning materials including personal reflection and feedback from trainer, coach or supervisor.
Evidence required for demonstration of consistent performance
Evidence should be gathered over a period of time in a range of actual or simulated management environments.
Resource implications
Access to a workplace or simulated case study that provides the following resources:
relevant financial and accounting standards
council policies and procedures
financial data
relevant computer software.
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C3824 | LGACOM503A | Prepare a budget | Unit of competency |