Budget Reporting Concepts (In-Year Forecasting Tool)

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Purpose

This section illustrates a standard reporting format commonly used in monthly financial reports prepared for divisional and executive leadership, with a focus on understanding projected fiscal year-end outcomes. This tool will be built into Anaplan (planned fall 2026), and an excel template is available by reaching out to bfp@colorado.edu.

Change in Net Assets In-Year Forecasting Tool (CINA)

The In-Year Forecasting Tool is a standard divisional-level financial summary prepared within each unit. It is structured to compare planned Total Sources to planned Total Uses and to show the anticipated fiscal year-end impact.

The In-Year Forecasting Tool reflects the unit鈥檚 current revenue and expense plan and indicates whether the unit expects to grow or utilize reserves.

Budget reporting concepts example

Key Definitions and Metrics

  • Total Budget: Since the view pictured to the right is fund 10 focused and this is budget based, the Budget is your 鈥淪ource鈥. You will notice the budget is divided by Current & Temp for each department.
  • Total expenses, encumbrances and transfers for FYE: Expenses & Encumbrances are listed by account category for each department. (This is the 鈥淯ses鈥)听
  • Estimated FYE budget balance available: This formula is Sources (less) Uses + any adjustments. In the example above, this shows that the division plans to end the year with a $186,650 surplus.听听
  • Estimated Ending Net assets: In addition to the items above, ending net assets also include Reserve balances. When you add reserve balances to the Estimated FYE Budget balance available, that equals $1,841,650.听
  • Reserves as a % of annual Expense: This metric helps to see the size of your reserve relative to your annual expenses.听听听
  • Actuals (including adjustments) / Continuing Budget: This metric of 102% shows us that the divisional actuals and expenses exceed our continuing budget. If the temporary funding is dependable, this can be acceptable, but it is important to understand.听听
  • Projected year-end change to 72 fund balance: This metric shows the dollar amount that is being contributed to or utilized from reserves this year.听
  • % year-end change to 72 fund balance: This is the same metric as above but represented as a percentage of the total reserve balance.听听

听听 Why this matters: Consistent use of an in-year forecasting tool:

  • Supports informed leadership decision-making
  • Highlights reliance on temporary funding or reserves
  • Encourages proactive financial planning and risk management