Compare, every month, what you planned to what actually happened, understand each meaningful gap, and act on it while it is small. This monthly moment is the whole point of having a budget.
Every month, once the budget is adopted, in Build and Run the Budget. It takes under an hour once it is a habit.
| Major income or spending line | Budgeted to date | Actual to date | The gap |
|---|---|---|---|
Flag only the meaningful gaps; ignore small noise.
If the review shows income is falling structurally short of spending, that is not a variance to note, it is the deficit question, and it routes to the funding work and the diagnostic's deficit gate.
Put this on the calendar as a standing monthly appointment and hold it even in busy months, because the value is entirely in catching a trend in month two instead of discovering it at year end. Share the headline with your board through the Board Financial Reporting Pack.
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