1. What are the functions and composition of budget committee?

The Budget Committee's primary focus is on creating the Budget Manual, which will
include a Budget Planning Calendar and Budget Distribution Guidelines. They offer a
layperson's perspective on the proposed budget and how it relates to the Board of Directors'
stated priorities and objectives. Normally, a budget committee will consist of the company's Vice
Presidents of Sales, Production, Purchasing, Human Resources, Information Technology,
Engineering and Quality, Administration, and Finance.
2. What is the relationships between operating and financial budgets?
At a specific activity level and a specific business cycle, the master budget is the sum of the
operating and financial budgets