The Budget Office would like to thank all who participated in the Adjusted Budget survey. Your input is crucial to helping us improve Financial Compass and better serve you.
And with that, drumroll, please, the winner is... Janet Swain; Alliance for Catholic Education!!
Enjoy a pumpkin spice Latte with your Starbucks gift card!
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FY24 Forecast & Multi-Year Planning Open! |
We are excited to report that the FY24 Forecast and Multi-Year tools are now open and available for planning in Financial Compass! The Q2 due date is January 19th, a snapshot will be taken of all the data, so no reports are required at that time. Just a reminder that WFP will be refreshed nightly, and you can make updates to your plans at any time.
Here is a quick overview of how each of these planning cycles are populated:
FY24 Forecast - begins with the monthly amounts you planned in the FY24 Adjusted budget. At the close of each month, those monthly budgets are then replaced with actuals from Banner.
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- Adjustments can and should be made within the remaining budgeted months in order to accurately reflect your projected year-end balance.
- At this point, actuals in FY24 are reflected through the 1st quarter of the year (July– Sept)
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Multi-Year - begins with the monthly amounts you planned in the FY24 Adjusted budget and applies growth rates, where applicable, to populate the FY25-FY27 budgets. Please note that within the pooled labor plans, we are currently working on applying growth rates to the out years.
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Based on the new planning cycle, as well as user feedback, we have updated/developed the following reports which are now accessible on the Report homepage:
06.01 WFP Compare (updated) - this report now lives within Financial Compass, not Tableau, and compares the FY24 Adjusted Budget against the current FY24 Forecast (previously it compared FY24 Adopted Budget to FY24 Adjusted Budget)
06.01.01 Vacancy Report with LD (new)- this report is based on the labor distribution of current vacant positions in the Forecast and future years
00.01 Multi-year Planning Growth Rates (new) - this report displays the growth rate percentages applied to specific categories for FY25-Fy27.
Also, all reports are now numbered for easier identification.
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We will be offering several training options to learn more about Forecast and Multi-Year planning, including the following:
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- Pre-Recorded Forecast Overview, Tuesday, 10/31
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LIVE! Forecast Overview Zoom on Tuesday, 11/7
- Open Office Hours Sign Up Here (November, December and January)
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Topic Specific Lunch-N-Learns (November and December)
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An invite for the 11/7 session will be sent out today and you can expect to receive an invite to the Lunch and Learns the week of October 30th.
Next week, we will be distributing new budgeting support guides. So, keep an eye out for these helpful handouts as you begin your Forecast work. Just a reminder that all of our training materials can All of these will be found on the Budget website on the Financial Compass training page.
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