Forecast Review

This dashboard displays Net Fee Income and Net Direct Expenditure accounts and charts of the variances on Fee Income and Net Direct Expenditure.

The myForecast variable allows the FM to review prior outturns if desired rather than the current Working Forecast.

This dashboard dislays the trend of Outturns for the current year plus the Budget and current Working Forecast.

This form allows the current Working Forecast for myCollege to be viewed at summary level.

All schools are displayed, with Net Fee Income and Net Direct Expenditure Target, Forecast & Variance.

This dashboard gives a visual presentation of the overall variances for the college.

The scenario is myForecast and so the FM can select between the current Working Forecast and prior Outturns.

The top part of the dashboard shows variances for the college as a whole, the bottom part shows them by unit.

This dashboard displays summary information of the Vacancy Savings position of the college.

A table of Vacancy Savings by unit is displayed, indicating the central charge to date, how much of this has been recovered (columns 2 and 3 should together add to 0). The final column displays the Forecast as a % of Actual. Only in very unusual cases would the % be less than 100%. If there was perfect visibility of future savings, and they were evenly incurred, in Q1 the % would be 400% ie we would expect the final position to be 4 x the Q1 position.

Charts display the recovery and the forecast by unit visually.

This form allows an account be selected for review.

The account may be summary level (e.g. PayExpend) or a detailed account.

Forms on the dashboard display full-year, quarterly or monthly information.

Actuals for the prior year (because we have full year data), current year budget and forecast are displayed.

This form displays the Balance Sheet accounts Discretionary Reserves, Internally Committed and Externally Committed Funds by unit.

Signs reflect eFin - so a negative amount represents a reserve and a positive amount reflects a reduction in such a reserve.

Discretionary Reserves

• Opening Balance, is as per eFin Actual at the start of the year;
• Share of NFI Variance v Target is as calculated in the P&L section of the current Working Forecast;
• Share of NDE Variance v Target is as calculated in the P&L section of the current Working Forecast;
• NonFormulaic Transfers is as entered by the FM in the P&L section of the current Working Forecast;
• Transfers per NDE Budget are no longer used as the Budget is set to Plan;
• Transfers Between Reserves will reflect any forecast entered by the FM in the Balance Sheet section of the current Working Forecast;
• Closing Balance is the sum of the above and therefore is a forecasted closing balance.

Internal & External Committed Funds

• BegBalance is the opening balance as per eFin Actual at the start of the year;
• Forecast Year To Date is as per any Actuals for the periods to date;
• Fcst Yr Remaining Periods reflects any forecast entered by the FM to the Balance Sheet section of the current Working Forecast;
• Closing Balance is the sum of the above and therefore is a forecasted closing balance.

This report presents the current Working Forecast in the format used for Outturn Reporting. Once data is saved on the Forecast Input form, it will be reflected in the report.

Most of the report compares Forecast line-by-line versus Budget (Plan) but the bottom section shows the Target and the comparison of the Forecast, leading to Transfers To/From Discretionary Reserves.

This report shows the Opening Balance and forecasted Closing Balance on committed funds.

The closing Balance is calculated based on the Actuals to date plus the forecast for remaining periods entered by the FM in the Balance Sheet section of the Forecast Input.