Category: Results

Competency: Managing Budgets

Competency Definition: The ability to plan, monitor, and adjust budgets to meet goals, ensure compliance, and promote financial transparency.

Abbreviation in Louisiana Jobs: MB - 26


Managing Budgets

Competency Behaviors: Specific, observable actions demonstrating the competency

Forming


Struggles to demonstrate the competency; needs guidance and practice.
  • Struggles to create a realistic budget aligned with allocated funds
  • Misallocates resources or leaves key priorities unfunded
  • Struggles to forecast expenses, leading to unexpected shortfalls or reactive decision-making
  • Compares actual spending to projections, limiting fiscal control
  • Struggles to adjust projections as new information becomes available
  • Struggles to reallocate funds to account for shortfalls and overages

Improving


Shows growth and increasing confidence but not yet consistently independent

Successful


Demonstrates the competency independently and reliably in routine situations
  • Develops a realistic, well-organized budget aligned with available funds
  • Allocates resources to support program goals and operational priorities
  • Uses financial data and analysis to project expenditures and support budget decisions
  • Tracks spending and compares it to projections
  • Updates budget forecasts based on current data and changing needs
  • Reallocates funds to account for shortfalls and overages

Exceeds


Applies the competency independently in challenging or high-impact situations, adding value or insight

Exceptional


Demonstrates subject-matter expertise, serves as a role model, and elevates standards.
  • Uses prior spending trends and data to create more precise budgets
  • Allocates resources in ways that maximize impact and reduce waste
  • Anticipates future resource needs by analyzing trends, engaging cross-functional knowledge, and informing long-term financial planning
  • Proactively identifies variances early to prevent budget issues
  • Leverages organizational awareness to develop solutions to budget challenges
  • Provides expert recommendations that guide responsible financial adjustments