Budgeting and Forecasting


On the list of every CFO is a desire to improve the budgeting process and to generate a meaningful five year projection.  Consider first the budget process.

“Here we go again,” is an all too frequent reaction when the time comes to put the budget together.  There are the pressures to restore areas that have been cut back in previous years, along with new spending needs springing up with every cycle.  The pesky finance person has to remind the leadership team that revenues are either flat or declining.  Where does she get her numbers? Are they real?

Enter CFO Colleague.

JeffWith our COMP4cast budgeting and forecasting system, emphasis is placed on functional ownership of the various revenue streams that comprise institutional resources.  Rather than someone crunching numbers in a remote cubicle, the entire leadership team can view in real time the impact of various levels of activity, pricing and discounts on the overall institution.  Revenue projection becomes transparent to all participants, with individually owned worksheets for enrollment, financial aid, strategic initiatives, capital spending, donations, auxiliary enterprises, investment management etc.  With confidence in revenues, the process of adjusting levels of spending is accomplished more successfully.  The CFO and her team become the facilitators, supporting the President and the rest of the leadership team in leading the budget process.

With budgeting and forecasting intertwined, a roadmap is created for more than a singular year and strategic initiatives are effectively connected with financial planning.  The board, your faculty and the bank are grateful for the results.

Contact us.  You’ll be surprised at how little time and investment it will take to check off your list the items of “improve budget process” and “comprehensive five year forecast.”

 

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