Transferring and teaching budgeting

Transferring and teaching budgeting Purpose – The purpose of this article is to provide tips on managing successful transition of financial control through thoughtful teaching about existing practices. Budgetary transfer during times of transition can be a particularly stressful experience for both seasoned and emerging library leaders. Design/methodology/approach – Explaining the concept of institutional memory, and providing insight on how personality affects fiscal discernment, this article draws on experiences of the author and the literature to provide timely insight on the practicality of successful financial control transfer. Findings – Personalities matter in the grooming and selection of good financial stewards. Ignoring personality in favor of an abilities‐only approach to budgetary management can result in surprisingly negative results. Screening for both ability and attitude results in a winning combination toward transitional success. Originality/value – Accounting and financial skill are the default concern of many budget managers. Coupling these skills with the values of hiring for mission, positive attitude and patience will be a welcome addition to literature on the subject of budget control transfer as readers reflect on past experience. This concept may also be a new perspective for many, as they experience the realities of institutional transition’s effects on budget control. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Bottom Line: Managing Library Finances Emerald Publishing

Transferring and teaching budgeting

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Publisher
Emerald Publishing
Copyright
Copyright © 2014 Emerald Group Publishing Limited. All rights reserved.
ISSN
0888-045X
DOI
10.1108/BL-01-2014-0002
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this article is to provide tips on managing successful transition of financial control through thoughtful teaching about existing practices. Budgetary transfer during times of transition can be a particularly stressful experience for both seasoned and emerging library leaders. Design/methodology/approach – Explaining the concept of institutional memory, and providing insight on how personality affects fiscal discernment, this article draws on experiences of the author and the literature to provide timely insight on the practicality of successful financial control transfer. Findings – Personalities matter in the grooming and selection of good financial stewards. Ignoring personality in favor of an abilities‐only approach to budgetary management can result in surprisingly negative results. Screening for both ability and attitude results in a winning combination toward transitional success. Originality/value – Accounting and financial skill are the default concern of many budget managers. Coupling these skills with the values of hiring for mission, positive attitude and patience will be a welcome addition to literature on the subject of budget control transfer as readers reflect on past experience. This concept may also be a new perspective for many, as they experience the realities of institutional transition’s effects on budget control.

Journal

The Bottom Line: Managing Library FinancesEmerald Publishing

Published: May 6, 2014

Keywords: Leadership; Accounting; Management; Finance; Succession; Budgets

References

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