Edinburgh science body urges new budget model
Alasdair Macnab, a trained management accountant and director of corporate services at the Royal Botanic Garden Edinburgh (RBGE), developed his budgeting model following a peer review at the centre in 2009.
Designed for public bodies, it identifies and aggregates the cost of all activities delivering strategic objectives.
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Hide Ad“Budgeting at the moment is still about what happened last year, plus or minus,” Macnab said.
“All it does is reinforce inefficiency. I’m proposing another system. If I know the actual cost of outcomes, I can start prioritising.”
The model is being adopted by the finance ministry of the Malaysian government, which was alerted to its existence through Macnab’s lectures as a fellow at the Chartered Institute of Management Accountants. Delegates from Malaysia have twice visited RBGE to work out how they can best apply the approach.