The Quarterly Variance Reporting process allows divisions to course-correct throughout the year; deliver transparent reporting to divisional leaders; and improve the quality of financial actual, budget, and forecast data.
Prototype: Quarterly Reporting Package
The reports included in the packet are:
- 1A - Division-Level (L3) SRECNA for Current Funds Excluding Contracts & Grants
- Shows the quarter results vs. plan and the quarter-to-date results vs. plan
- 1B - Division-Level (L3) SRECNA for Contracts & Grants
- Same report as 1A for Contracts & Grants
- 2 - School/College/Department-Level (L4) SRECNA for Current Funds Excluding Contracts & Grants
- Quarter-to-date results for the next reporting layer down from the division
- 3A - Division-Level (L3) SRECNA Variance Explanation for Current Funds Excluding Contracts & Grants
- This is the report you will complete to explain material variances
- 3B - Division-Level (L3) SRECNA Variance Explanation for Contracts & Grants
- Same report as 3A but for Contracts & Grants.
- 4A - Target Measurement Reporting
- Allows you to review progress toward meeting budget improvement target, no entry required
- 4B - Revenue Generation Reporting
- Allows you to report on progress toward generating the revenue reflected in your budget submission
For questions about this process, please contact Director of Financial Reporting & Analysis Heidi Hallett at firstname.lastname@example.org.