ASBO New York Partner Frontline (Forecast5) Presents Monthly Data & Analytics Tip

Wouldn’t it be nice if you had a crystal ball to see what the future holds?  Imagine how effortless managing district finances would be if you knew how your current and future budgets would perform. Like a crystal ball, Budget Management and Financial Planning Analytics provide insight into the future by offering tools that can help you project monthly cash flow, year-end balances and future annual operating surpluses and deficits so you can stay on track and avoid financial hardships.
 
Budget performance reports generated in Budget Management Analytics illustrate how the district’s inflows and outflows compare against the existing budget to help you plan for near-term shortfalls. Questions the Budget Performance Report can help answer:

• Which budget items went as expected and where did we miss the mark?
• Do we have enough money on hand to meet expenditures?
• Do we need to modify the budget?

Developing multiyear forecasts using Financial Planning Analytics outlines the district’s current and future expenditure commitments, revenue trends, and affordability of new services and investments to determine what’s sustainable. In instances where the future doesn’t look so bright, you can reevaluate the district’s priorities and make necessary adjustments.

Questions the Multiyear Forecast can help answer:

• Are our current commitments sustainable?
• Do opportunities exist for new initiatives?

Frontline (Forecast5) Resource: Comparative Analytics (5Sight)

For more information, please contact Brett Williams, bwilliams@frontlineed.com, 315.978.6010