It happens every year, yet only once a year, so it hardly goes smoothly. Sometimes you have to have a division redo their budget plan. In any case, it's good to make the process of the decision transparent for employees.
If you are new to the company, you may want to see how your predecessor performed the duty. Using a workflow system would allow you to check past records on who did what, when and how.
It's obviously important to give board members access to the real-time info on budget planning. We'll go one step further and say it's also beneficial to record board member comments on the final budget plan. The below workflow let's board members do just this. (If the board members decide to annul the final plan, you just start the process all over again.)
