Forecast and Budgeting Process
Forecast Q2 2008 Guide
What level in the org
structure are we forecasting?
All forecasts should be entered at F4 level, by item code.
Why are the templates pre-populated?
The Q2 forecast process should be a more thorough review than the Q1 process
(which was a “by exception” review) and consideration should be given to all
aspects of performance (eg teaching revenue, research and consultancy
revenue, salary expenses, non salary costs and capital related items).
Teaching revenue was updated by Divisions as part of the Q1 process and may
not need to be changed, but Divisions should at a minimum consider whether
more current information is available than that used in Q1. Divisions, Units
and Institutes should look at the 2008 budget, 2008 Q1 forecast and 2008 YTD
to performance when reviewing their P&Ls and compiling the Q2 forecast. For
most areas, this process will be far more detailed than the review and
calculations performed for the Q1 forecast.
The templates have been
pre-populated with the Q1 forecast data for your convenience. Over-write the
amounts at your discretion - conditional formatting will highlight where you
have made these changes.
If I change my figures, will the levies update?
We have included a new Levy calculator which will provide an indicative levy
figure if you make any changes to your forecast. The levy amount will not
update automatically, but will state “Adjust your levy?” in the adjoining
cell to highlight the change in levy figures. If you reflect the new levy
figures in your forecast you will be able to see an indicative net result.
The normal system routine to calculate levies will still be run on a regular
basis and the levy calculation in the forecast template is indicative only
(for example cost centre waivers are not taken into account in the
template).
How do I choose the appropriate Sub Line of Business (SLOB)?
We have provided two guides to help you with this;
-
A statistical guide which reports the most commonly used SLOB per the F4
-
A report extract that uses the SLOB with the highest dollar transaction per F4
Other hints and tips:
-
Enter data as whole dollars
- 3 spare rows within each F4 have been provided for additional item codes
- Data will upload to 08GLFCT period 6
- Your comments will be uploaded subject to the 112 character constraint
- You will be required to Upload the data
-
Use the Group/Ungroup feature to modify the report presentation and display the extra item code areas
-
With the extra item codes, you need to enter valid, 4 digit codes. A drop down list exists as a guide
Who do I contact for further assistance?
Upload access queries – Diana
Smith (x21798)
Other queries – Phil Wooding
(x21810)