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B U D G E T E X P L O R E R v. 5. 0 Multiyear Financial Forecasting Software for K-12 School Agencies. CCSESA Session II Budget Explorer Overview District, County Offices & Charter Schools. Presented by: Anthony Bridges, CFE, Deputy Executive Officer - PowerPoint PPT Presentation
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Presented by:
Anthony Bridges, CFE, Deputy Executive OfficerMarisa Ploog, CPA, Fiscal Intervention Specialist
CCSESA Session II Budget Explorer Overview
District, County Offices & Charter Schools
B U D G E T E X P L O R E R v. 5. 0Multiyear Financial Forecasting Software for K-12 School Agencies
MULTI YEAR FINANCIAL PROJECTION PAST PRACTICE
Pre-SACS Requirements− Simple Spreadsheets− COE requested to demonstrate basis for SACS
certifications
Post-SACS Requirement− Multiple format spreadsheets− Basic Entry SACS form
CASH FLOW PROJECTIONSPAST PRACTICE
Accounting exercise – no deferrals Just another form requirement Spread budget balances evenly over remaining
months
MULTI YEAR AND CASH FLOW PROJECTIONSUsing Budget Explorer
MYFP/cash flow are significant technical tools MYFP is a significant communications tool Assumption details are critical when it comes to
MYFP Most accurate in the base year, least accurate in the last year (year 3 generally)
The SSC Dartboard keeps us consistent statewide Preparing a MYFP or cash flow may feel like an
“immunity challenge”
Provides for detailed analysis New focus on resource/program demands today AND
tomorrow Identify and document MYFP shortfalls early on to provide
greater response time Provides a path for COE’s & Districts to build “Alliances” to
strategize and prevent being voted off the island Teaching moments
MULTI YEAR AND CASH FLOW PROJECTIONSUsing Budget Explorer
BUDGET EXPLORER FRAMEWORK
Multi-year Financial Projections− Detail options− Enrollment forecasting− Salary and benefit forecasting
Cash Flow Projection− Detail options− Deferral schedules
Disclosure of Collective Bargaining Fiscal Health Analysis
MAXIMIZING BE PERFORMANCE
Supports any internet browser including:− Google Chrome, Firefox, Safari, Internet Explorer
New Server Hardware, Virtual Server Environment
Optimized software
BE MODEL MANAGEMENT
Creating a new model− Import SACS file
• Detail limited to SACS roll up• Locally defined resources must be established and redistributed
− Import from financial system• Requires coordination with COE & technology services• Greater detail – all resources – detailed object codes
Copying an existing model− Retails detail & rules− Updates may be needed
Select projection (mouse over and click)
Click button On the projection sharingscreen select User and click buttonfor Read-only group or Read-write group
SHARE PROJECTIONBuilding Alliances Between Districts & COEs
NAVIGATION TREE
• Summary– Unrestricted – Restricted• Import from SACS file roll up
-Add resources for locally defined-Deleting resources with no activity
TAB 1.) HOME – Projection Adjustments General projections settings listed on mouse over
Home page Statistics section contain links to projection adjustments−Upload Base values−Change projection title−Change number of years to forecast−Enable/disable audit logging
TAB 1.) HOME – Audit Log
Audit log is enabled by default Use report page to revise audit log for the
projection
TAB 2.) RULES
• Rules drive assumptions• Rules never affect the “base
year” (Budget Import)• Based on SSC Dartboard• Rules can be modified for
specific resources or objects• Hovering mouse over rule
icon
TAB 3.) ENR/ADA/STAFFING
• Extra care here can make a big difference in the MYFP
• Has a direct affect on projected:ADA populationRevenue Limit sources
• Prefill from CBEDS
• Projection methodsCohort progressionKindergarten
SALARY FORECASTER
• Allows for greater detail in future costs
• Managed by resource
• Only salaries in object 1100
ADA data imports from Enrollment and ADA screens
Base revenue limit per ADA imports from SACS form RL
TAB 7.) AUTO BAL Used to balance resources with negative ending fund
balances in MYFP
Make all adjustments first! (including indirects)
This step is usually done last when completing MYFP
Two approaches:
− Reduce 4s, 5s, 6s (but you can change the sequence)
− Contribution from unrestricted (SpEd, RRM & Transportation)
EDIT VALUES
From resource screen this option provides you with detail across all resources for a particular object code. Good for balancing detail such as 8980, 8990, and 7310.
May require further drill down to access……..
TAB 6.) CASH FLOW Matches budget data in the resource summary
Multiyear cash flow projection
Established projection schedules
Cash deferrals schedules are updated
Revenue by resource detail or aggregate
Expenditures always aggregate
No required entry order
FCMAT cash flow tutorial
CASH FLOW ACTUALS - Upload
Actuals can be uploaded from file using button
CSV file format can be found on the Upload cash flow actuals window under sample file link
Select action for objects and import mode
CASH FLOW CREATION
If you did not enter your balance sheet information when you initially created your model start by selecting “create projection” and enter them.
You can also enter them directly on the cash flow screen.
ADDING ADDITIONAL ASSET & LIABILITY ACCOUNTS
Clicking the icons in the asset or liability GL section will provide you with additional common object code selections
CHECKING YOUR BALANCES
Checking your balances:
+ Beginning cash+ Budgeted revenue- Budgeted expenditures+ General ledger asset balances- General ledger liability balances
= Projected Ending Fund Balance
DETAIL REVENUE TRANSACTIONS
Revenue data is stored by individual resource and object
Access and enter revenue transaction detail by clicking on the object code series
BE automatically includes the updated deferral schedules Revenue receipt schedules established by funding
source/resource Expenditure disbursement schedules established for each
major object code range Established schedules can be viewed by selecting the
tab on the cash flow
PROJECTION DISTRIBUTION SCHEDULES
BUDGET EXPLORER FOR CHARTER SCHOOLS
983 Charter Schools year to date Approximately 100 charters schools approved annually FCMAT is in the software development process Anticipated release in August\September of 2012 Includes calculations for the General Purpose
Apportionment and Block Grants Software using “Wizard” approach with questions to
populate data