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Your fund manager pays fees and costs, such as management, audit and trustee fees, from the trust’s cash. Before they can spend in a category, they submit an expense budget, and you approve or reject it. You are the check on what the fund manager may spend: no budget, no spending.
Where: Employer › Budget approvals. Nothing to do here until the fund manager submits a budget. When nothing is waiting, the tab shows No budgets are waiting.
Fund manager budget approvals with the message No budgets are waiting

Nothing waiting

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Budgets waiting for you

Two budgets with status Pending approval, Approve budget marked 1 and Reject budget marked 2

Two budgets waiting

Each row shows the budget (its description, with the budget reference underneath), the trust, the total amount, cash already recognised, and the status Pending approval.

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Approve a budget

1

Select Approve budget (1)

2

Add an approval note (optional)

The window warns that approving replaces the fund manager’s current approved budget for that trust, if there is one. Only the new budget’s lines will authorise spending, and expenses already posted count against it.
3

Select Confirm Approval (1)

Approve budget dialog with an approval note and Confirm Approval marked 1

Approving a budget

A message confirms Fund manager budget approved. and the budget leaves the list.
Message: Fund manager budget approved.

Budget approved

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Reject a budget

1

Select Reject budget (2)

2

Enter the rejection reason

The reason is required and is shared with the fund manager. Confirm Rejection stays disabled until you type one.
Reject budget dialog with an empty Rejection reason and Confirm Rejection marked 1

Rejecting a budget

3

Select Confirm Rejection

A message confirms Fund manager budget rejected. The fund manager can revise and resubmit.
Message: Fund manager budget rejected.

Budget rejected

Select Cancel in either window to close it without deciding.
  • Total amount — is it reasonable for the period the budget covers?
  • The lines — management, audit and trustee fees are normal. Ask about anything you do not recognise.
  • Replacement — approving replaces any budget already approved for that trust, so the new one must cover everything the fund manager needs.
Costs are paid from the trust’s money, so they lower what is available for benefits. If in doubt, reject with a question as the reason; the fund manager can answer and resubmit.