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Salary Modeller and Q2 Forecast Workshop

Salary Modeller and Q2 Forecast Workshop

New user and refresher

Overview

Salary Modeller – new user and refresher

Aimed at individuals who have had limited or no experience of using the salary modeller tool.

This part of the session will cover the basics of how the tool works and how it is used for budget setting and monitoring, to be delivered at a slower pace.  There will also be the opportunity to review the data in your current salary modeller tool and make any necessary amendments.

Q2 Forecast

In line with Forecasting monitoring procedures, schools are required to review the Financial Plan set in April/May against the actual expenditure to date, and to project a revised forecast to year end which is a best estimate. You will be able to work on the new forecast form in a quiet environment with Finance staff on hand to answer any questions. This year a new forecast submission spreadsheet will be used to replace the Eform SCHF previously used.

The Q2 deadline is 19 October 2018

Suitable For: All Finance Staff and Bursars (especially beneficial for new Finance Staff)

Date & Venue: Please see the Training Schedule

Time: Full Day 9:30am to 2:30pm with a break for lunch (not provided). Refreshments provided.

Cost: If you have a Finance package 150 credits for the first delegate and 75 credits for an additional delegate. If no Finance Package has been purchased please refer to Schools Finance Packages 2018

 

What you will need to bring

  • Your school’s log in and password
  • A memory stick with any SIMS information you may wish to use and a copy of your latest monthly summary report on which you may want to work before transferring the data onto the spreadsheet.
  • Lunch
  • Your current salary modeller on a memory stick

 

Objectives

By the end of the course you will be able to:

  • use the salary Modeller tool to its full advantage and how it can assist with your monthly monitoring.
  • understand the functionality of the Salary Modeller and the new Forecast spreadsheet.
  • complete your forecast
  • consider outcomes that may affect your year- end forecast position.

 

Details

  • Salary modeller tool- work individually on a PC using your memory stick with your salary modeller tool. Review your current data and how to make changes within the tool
  • Demonstrate how changes will impact your budget position
  • Demonstrate how the tool can be used for budget setting and budget monitoring. To be delivered at a pace suitable for the attendees
  • Explore the different elements of the tool and explain its functionality
  • Q2 Forecast -work individually on a PC on a live version of your Forecast spreadsheet with Finance staff on hand to assist
  • Explain how to complete the new forecast submission spreadsheet
  • If completed during the workshop submit your forecast or save it to a memory stick to work on back at school

 

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