Fourth and goal — time to score

Like many sports fans, my thoughts turn to football this time of year. But I’m also thinking about the fiscal fourth quarter and obtaining extra equipment for the shop that we couldn’t afford earlier in the year.

Typically, there are unspent funds in a company’s coffers. These funds were allocated for purchases but, for one reason or another, haven’t been spent. Now is the time of year to ask your supervisor or manager if any discretionary funds exist. Usually, these funds are available for anyone in the company to make departmental purchases. If those funds go unspent over the course of the year, management usually will reduce next year’s budget by at least that amount.

In the late 1990s, I worked for a privately held company with fewer than 50 employees. One October, I asked the owner if there were any funds that needed to be spent before the end of the calendar or fiscal year. He asked me how much I wanted to spend and told me to provide the request by December 31.

I then went into the shop and asked the machinists what they needed. One guy said a tool cabinet, another wanted for a good modular boring bar system, and others voiced their requests as well. As a result, I presented the machinists with a host of catalogs to search through. “Pick out what you need,” I said, instructing them to give me their choices by the end of the week.

The end of the week came and went without receiving their choices. I asked what was taking so long. A couple of machinists said they were concerned about losing their end-of-the-year bonuses because of the purchases. I told them this had nothing to do with their bonuses and was from a different account. They didn’t believe me until I had the general manager explain it to them.

They finally gave me their “wish list,” which totaled about $10,000. I gave the list, with prices, to the owner and explained each item and its benefit. He looked at the list, looked at me and told me to place the order—no questions asked. Needless to say, our tooling rep was ecstatic.