It is unwise to present a manager with a problem without also proposing at least two possible solutions.
Let your manager know that with X number of dollars in your budget, you can do A, B and C, but probably not D. Doing D will necessitate adding Y amount of dollars to your budget. Be realistic, or this will not work!
Anticipate what your boss will want and try to provide him or her with that before they ask. Better yet if it’s before even they know they want it.
If you’re going to provide your boss with a regularly scheduled report of some sort, make sure it’s substantive and not just “fluff.”
Never, ever go over your bosses head!
Get the boss’ secretary on your side by treating her like a valuable human being.
Don’t get the reputation of being a teller of tales to your boss, even if they’re true. It’s likely that they already know before you even mention it. Plus doing so makes enemies.