CCSESA Session II Budget Explorer Overview District, County Offices

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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. 0 Multiyear
Financial Forecasting Software for K-12 School
Agencies
Presented by Anthony Bridges, CFE, Deputy
Executive Officer Marisa Ploog, CPA, Fiscal
Intervention Specialist
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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

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CASH FLOW PROJECTIONSPAST PRACTICE

• Accounting exercise no deferrals
• Just another form requirement
• Spread budget balances evenly over remaining
  months

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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

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MULTI YEAR AND CASH FLOW PROJECTIONSUsing
Budget Explorer

• 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 COEs Districts to build
  Alliances to strategize and prevent being voted
  off the island
• Teaching moments

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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

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MAXIMIZING BE PERFORMANCE

• Supports any internet browser including
• Google Chrome, Firefox, Safari, Internet
  Explorer
• New Server Hardware, Virtual Server Environment
• Optimized software

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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

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CREATING MANAGING PROJECTIONS
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SHARE PROJECTIONBuilding Alliances Between
Districts COEs

• Select projection (mouse over and click)
• Click button
• On the projection sharing
• screen select User and
• click button
• for Read-only group
• or Read-write group

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NAVIGATION TREE

• Summary Unrestricted Restricted
• Import from SACS file roll up
• -Add resources for locally defined
• -Deleting resources with no activity

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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

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TAB 1.) HOME Audit Log

• Audit log is enabled by default
• Use report page to revise audit log for the
  projection

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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

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TAB 3.) ENR/ADA/STAFFING

• Extra care here can make a big difference in the
  MYFP
• Has a direct affect on projected
• ADA population
• Revenue Limit sources
• Prefill from CBEDS
• Projection methods
• Cohort progression
• Kindergarten

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SALARY FORECASTER

• Allows for greater detail in future costs
• Managed by resource
• Only salaries in object 1100

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TAB 5. REVENUE LIMIT (District)
Base revenue limit per ADA imports from SACS form
RL
ADA data imports from Enrollment and ADA screens
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TAB 5.) REVENUE LIMIT (COE)
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TAB 5.) REVENUE LIMIT (COE)
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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)

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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..
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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

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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

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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.
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ADDING ADDITIONAL ASSET LIABILITY ACCOUNTS

• Clicking the icons in the asset or liability
  GL section will provide you with additional
  common object code selections

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CHECKING YOUR BALANCES
Checking your balances Beginning cash
Budgeted revenue - Budgeted expenditures
General ledger asset balances - General ledger
liability balances Projected Ending Fund
Balance
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ACCESSING THE CASH FLOW PROJECTION
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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

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PROJECTION DISTRIBUTION SCHEDULES

• 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

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TAB 8.) TOOLS

• Disclosure of Collective Bargaining Template
• Fiscal Health Risk Analysis Report

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TAB 9.) REPORTS
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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

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BUDGET EXPLORER FOR CHARTER SCHOOLS
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FCMAT Questions Answers Thank You