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BUDGETING: The Major Task of the Financial Manager

Donna Bausch (Acting Law Librarian Regent University Virginia Beach, Virginia)
Nancy Bausch (Law Librarian and Associate Professor of Law Georgia State University, College of Law Atlanta, Georgia)

The Bottom Line

ISSN: 0888-045X

Publication date: 1 April 1991

Abstract

The task of the financial manager of a library is a formidable one. Wacht defines a financial manager as a person who manages the resources of an economic entity for the purposes of influencing the future outcome of its operations. The financial manager plays the major role in planning and measuring the organization's needs for funds, raising the necessary funds, and making certain that the funds acquired are properly employed. A financial manager must also estimate the future cash flow associated with individual projects, in addition to the funds necessary for the total operation of a library. Other duties include the evaluation of prospective new investments and programs on the organization's operations.

Citation

Bausch, D. and Bausch, N. (1991), "BUDGETING: The Major Task of the Financial Manager", The Bottom Line, Vol. 4 No. 4, pp. 27-30. https://doi.org/10.1108/eb025307

Publisher

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MCB UP Ltd

Copyright © 1991, MCB UP Limited