Utility Budget Management

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Better Budget Management Makes for a Better Future

A budget, according to the following article, is “…a systematic method of allocating financial, physical, and human resources to achieve strategic goals. Companies develop budgets in order to monitor progress toward their goals, help control spending, and predict cash flow and profit.”

Another resource to be allocated is energy. An energy budget is more than just expense management. It is part of an ecosystem of capital, operational, rebates, efficiency targets and many other line-item costs. One approach to managing utilities better is through budget management. The methods are similar; top managers need to translate strategy into milestones and metrics for utility costs. Utility resources, whether for bills or for retrofits, need to be planned carefully. By adopting these practices, companies can see a significant drop in their costs of utilities and improve their carbon footprint.

Inc.com – Best Practices: Developing Budgets: http://www.inc.com/articles/2000/01/16379.html