Friday Feature - Verifying Your Budget Figures

Over the month of January, I have been talking quite a bit about the nitty-gritty of budgeting: rolling accounts forward, entering information, and whatnot.  Now I would like to talk about verifying all of that hard work.

Everyone knows that the greatest percentage of school budgets is employee costs. Getting this information right — current employees and vacancies that may or may not be filled — is crucial. Escape Online has two reports that can breakdown this information into easily digestible chunks that can help you verify your figures.

The Budget05 and Budget06 reports look at the same information (employee salaries and vacancies) but from two different perspectives:

  • Budget05 – Budget Salary Projections by Account
  • Budget06 – Budget Salary Projections by Employee

Let's look at each one and see how they can be used to compare and contrast the information and figures.

Salary Projections by Account

The Budget05 looks at salaries and benefits for employees and vacancies from the account perspective, differentiating between adjustments (manually modified amounts) and vacancies (automatically generated amounts based on "unused" FTE).

Salary Projections by Account
Salary Projections by Account

See how the account is at the top of the page.  With this report we can see all of the employees (and potential employees) that are associated with this account and how much each bucket (earnings versus benefits) has in the budget.

This is really handy for double-checking each budget line item, looking for under or over appropriated funds.

Salary Projections by Employee

The Budget06 is another way to look at the same information.  But instead of looking at everything from an account perspective, we look at it at the employee level.  Now you can see how many accounts and how much funding is allocated to each employee.

Salary Projection by Employee
Salary Projection by Employee

Now we are looking at the budget, employee by employee. We can see vacancies (at the top of this sample) and which accounts they affect.  We can also see employees (at the bottom of the report) and which positions they hold and if they have extra earnings (like addons).

This is really handy for double-checking each employee and vacancy, facilitating communication between HR staff and budgeting staff.

Stay tuned for more budget features in the next few weeks!