Unit code: SITXFIN003Description: This unit describes the performance outcomes, skills and knowledge required to take responsibility for budget management where others may have developed the budget. It requires the ability to interpret budgetary requirements, allocate resources, monitor actual income and expenditure, and report on budgetary deviations. The skills and knowledge for budget development are covered in SITXFIN004 Prepare and monitor budgets. This unit applies to all tourism, travel, hospitality and event sectors. The budget may be for an entire organisation, for a department or for a particular project or activity. It applies to those who operate independently or with limited guidance from others. This includes supervisors and departmental managers.