Finance Reports - Financial Forecasting

Introduction

The Bud Finance Reports include Financial Forecasting reporting to provide the ability to model your expected starts for the remainder of the current and next academic year.

User Role 

• All users with a reporter - Finance Reports permission switched on

How to: Starts Projection

This graph summarises the total value of your apps indicative reports for 2 consecutive academic years in green. It the offers you the ability to project the financial value for a set number of new starts on-boarding per month. Use the slider to input your estimated monthly starts to see the projection in grey update.

Business Rules

The calculation we use to model your projected starts is taken from the last 2 academic years of your data and works out the following;

Average planned length of stay

Average "Planned number of on programme instalments for aim" from your apps indicative report for the current and last ILR years.

We then divide Average total price applicable by Average planned length of stay to get Average funding per month

These values can be found at the top of this section of the report to help guide your understanding;

We can then use this value to model your input value of starts per month to cumulatively add funding per month for your average planned Length of Stay.

You can use this model generically across your whole provision or use the slicers along the top of the page to model specific sectors/programmes. Calculations will update depending on your filter selection to ensure values are realistic to the corresponding area.

How to: Applicants in your Pipeline

Within this page we also model the projected financial forecast of the Applicants in your pipeline. This graph summarises the total value of your apps indicative reports for 2 consecutive academic years in green and overlays the projected financial value for all applicants in a scheduled status calculated using your data in the Bud.

Note: To ensure we have as much tangible data as possible, we can only model those in a Scheduled status, those who have a learning plan / ILR created (ie those in committed status onwards) are shown in your apps indicative calculation.

Business Rules

In order to model your applicants against your apps indicative report we have made the following assumptions about each scheduled applicants in your data;

Length of stay

Using data from your programme build, we look at the programme a scheduled learner is attached to and pull in the "Standard Duration In Months For Thirty Hour Week"

Start Date

Where a start date is present in the application, we use this value. Where is has not yet been populated we use the sign up meeting date as the closest corresponding value.

Note: This assumption means that if you are front loading starts with a large gap between their sign up date and start date, if the start date has not been input, these values will be skewed based on when payments start.

Financial Value

Using data from your programme build, we look at the programme a scheduled learner is attached to and pull in the "List Price" The full calculation is as follows;

We then pay out OPPs for the [Standard Duration In Months For Thirty Hour Week] Starting on the Start Date and then completion payment the month following the end of Duration.