Training budget
1.Introduction
Training costs money, but these costs are not always seen as an investment in the short term. For this reason alone, it is wise to keep tabs on costs, so you know the actual expenditure at any given time. Budgeting can not be separated from aims. Decide for yourself what you want or what your company wants to achieve with training. Not just this year but also in the future.
2.Training Budget
The training budget is normally expressed as a percentage of turnover. This percentage of turnover may be spent on training. If this percentage is not already evident, you can make an inventory of all possible costs. On the basis of this you can draw up the training budget. Once the budget has been made, its realisation should be monitored and controlled constantly. In this way you can determine at the end of the year how much the training costs, and what percentage of the annual turnover this was. Afterwards you see whether or not the aims of the training budget have been achieved. Then, if necessary, you adjust the budget or the aims.
Training Year:Subject / activity / for whom / budgeted / Actual expenditure / Month of Expenditure
Course fee / € / €
Training materials (books / tools) / € / €
Assessment fees / € / €
School contribution / € / €
Travel costs / € / €
Small materials / € / €
Skills competition fees / € / €
Visit to fares / € / €
Visit to demo evenings/days / € / €
Training levy / € / €
Absence hours / € / €
Other / € / €
Total / € / €
- Overview of compensation for training costs
• Tax deductions on training costs
In several countries various training costs are tax deductible. These deductions were introduced to stimulate companies to invest in their staff. They might include course fees and possibly the time spent by the trainer on guidance and supervision.
• Training funds
In several countries there are (sector) training funds that cover costs for specific trainings. It is worth inquiring in your employer organisation whether there are possibilities in your country / sector.
Name / Costs these income covers (link to other table) / Income from tax regulations / Other grants / Total€ / € / €
€ / € / €
€ / € / €
€ / € / €
€ / € / €
€ / € / €
€ / € / €
€ / € / €
€ / € / €
€ / € / €
Grand total / €
October 2009 1 -