The chair of the budget committee at your company, Bill Strong, has come to you, the CFO, to discuss improvements to the budgeting process for the company. In years past, many of the employees have not bought in to the budgeting process and Bill wants to do everything possible to make sure all employees of the company work together to design and implement the very best budget possible. Bill is asking you, along with the other executives in the company, for your ideas on how to implement an effective budgeting program.

Write Bill a memo outlining at least three ideas you have to implement an effective budgeting program.