A key to financial viability and sustainability is excellent budgeting and board reporting systems. Precise budgeting, based on realistic assumptions, together with regular and responsive reporting of budget to actual performance is an important factor for maintaining a financially sustainable school.
We currently offer the following standard models.
Budgeting and Board Reporting for schools
BUDGET
The Budget model has been designed so that data input is kept to a minimum but without compromising the comprehensiveness of the output of the financial statements.
Model Features:
• Data input areas are easily identified by white cells, the cells that are formatted grey calculate automatically
• Statement of Comprehensive Income, Statement of Financial Position and Statement of Cash Flow created:
o On monthly rests for the 12-month budget year
o On annual rests for 10 years extrapolated from the 12-month budget
• The 12-month Statement of Comprehensive income is calculated on an accrual basis with the Statement of Cash flows adjusting for the actual timing of cash inflows and outflows
• KPI analysis ratios are consistent with the School Financial Survey Report
o Users can enter benchmarks from the current year’s benchmarking report to analyse the reasonableness of the budget outcomes
• The model is referenced to the standard Department of Education chart of accounts and Financial Questionnaire (FQ) item numbers
• Start year is based on completed Financial Questionnaire data
• Budget export data worksheet for Board Report model
• Budget export data worksheet for easy upload into your school’s finance system
• Boarding model available
Budget model is a once off investment of $2,750 inc GST and includes technical support.
ONE-PAGE BOARD REPORT
Our research and development is focused on a web-based integrated Business Intelligence (BI) and Corporate Performance Management (CPM) tool to help schools control the decision making process from strategy to budgeting to data collection to information analysis to decision making and results monitoring.
For further information please email us using the contact form here.