ABSTRACT
The museum’s governing body is accountable for the museum’s fi nancial management. The museum director, working with the museum’s management team, is responsible for ensuring that the museum’s fi nances are soundly managed on a day-to-day basis and defi cits do not occur. In many museums, budgets are allocated to and managed by departments, for example education, conservation, marketing and communications. Discussions between the departmental head and the head of fi nance in the museum on a regular, at least monthly, basis, helps both the senior management team and members of the department keep track of their expenditure and income against their departmental budget. Departmental budgets can then be aggregated to show progress against the museum’s budget as a whole. This approach has the additional approach of guarding against possible fraud.
