more than you imagine head teacher forum buddy & financial data

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Head TeacherForum

Buddy & Financial

Data


Buddy and Financial Management

Funding sources

On-costs

Budgets, Expense, Transfers

Reading Buddy

Basic Financial Management


Fund Sources

Commonwealth, State Agreement

Contestable Funds Commercial International

Core Funds Non-core Funds

Core Budget

Delivery Plan(TIPA)

College/Cluster Budget SAP / Buddy


Buddy and SAP

Buddy is an interface to SAP

SAP

Buddy

Tells us what is in SAP

DataExternal Transactions

Budgets

Income

Transfers


Fund Sources


Buddy Exercise:

Change fund codes to see variations


On-costs

Base Salary

On-costs are additional costs above the base

salary paid by the employer as part of

working conditions or regulatory requirement.

On-costs add about 27% to FT salary costs and about 17% to PT salary

costs.

The real hourly cost of employment is thus the total costs / actual hours

worked.TIPA budgets & Buddy

budgets include on-costs.

Leave Loading

Extended Leave Provision

Workcover Insurance

Payroll Tax

Annual Leave Provision


Buddy Exercise:

Navigate to FT Payroll

Navigate to PT Payroll

Note non-teach payroll also in some sections

Why check this? WHO are you paying??

Note Confidentiality: important to manage this information respectfully.


Expenditure & Budget - College

Core Budget

Other ExpensesCore

Staff SalariesCore

Budget Expense

Balanced Budget

Gives $ spent, $/ASH

Staff costs, expenses

Commercial, International

Un-Balanced Budget

Gives TROUBLE!

Note: All salaries and

expenses paid from Fund 001

(in Core)


Expenditure & Budget - College

Core Budget

Other ExpensesCore

Staff SalariesCore

Staff SalariesNon-Core

Other ExpensesNon-Core

Budget Expense RTMSJournal Transfer

Core Budget

Core Budget

Expense entered as a negative in core to move to

non-core as expense against income

Non-Core Income


Buddy Exercise:

Go to June 2011, core funds

Determine if there are any RTMS transfers

Click through to list the transfers

Note the amounts linked to what is selected


$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11

Dental Studies Randwick Core Funds FY 10-11

Actual Budget YTD Budget allocated

Budget in Buddy

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000


Perfect!: Sample Core Funds FY 10-11

Actual Budget YTD Budget allocated


-$700,000

-$600,000

-$500,000

-$400,000

-$300,000

-$200,000

-$100,000

$-

$100,000

$200,000

$300,000


Dental Studies FY 10-11 Variance

Budget in Buddy


Buddy:Forecast

11

Quick Review:Actual / months to date = $ per month (approximately)

$ per month x remaining months = funds required to end yr/sem

Remaining funds – commitments – funds required = over/under?

Quick Review:Actual / months to date = $ 1081949/10 = $108,000

$ 108000 x 2 = $ 216,000end yr/sem

$144,000 – $46,000 – $216000 = -$118,000 ie overrun


Buddy Exercise:

Go to May 2011 Core, forecast June

How close was it?

Notice a problem with this exercise?


Buddy: Detailed Review

Section level variance, which are negative?

Click through to detail

Employees – Payroll, Transfers

Other Expenses – Purchases, printing, travel....

What income / expenses are outstanding?

What future impacts are expected?


Buddy – What’s next?

Buddy can’t tell the whole story; it is a snapshot in time.

Some tracking of hours, expenses needed

What RTMS, journal transfers expected?

Current balance – adjusted to ‘now’ with local knowledge

Funds come in ‘chunks’ so reconciliation needs care

more than you imagine head teacher forum buddy & financial data

Documents

costs budgets

aubuddy exercise

additional costs

ashstaff costs

pt salary costs

ft salary costs

funds commitments funds

total costs actual hours