Utilities Operations & Maintenance Budgeting
The Utilities Operations & Maintenance (O&M) Budgeting process involves coordination between accountants, utilities project managers, or leads, and senior business executives to develop, analyze, approve and monitor O&M budgets. Accounting team members and senior executives collaborate to produce the initial annual budget. Once thie annual budget has been refined and approved, it is use to develop various monthly budgetary reporting and analysis tools, including dashboards that are visible to various units throughout the company. When significant deviations from the planned budget are identified in these reports, company project management and finance team members hold meeting to determine why the variance exists, and to outline potential solutions.
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