Executive Financial Reports

The Executive Financial Reports provide a financial summary at the organisation level for each organisation within the Department of Education.

How will these reports benefit me?

These reports will assist you in financial planning and reporting for your organisation and all its associated cost centres.

What do the Executive Financial Reports provide?

They provide the financial position for each division within the department as well as the whole department. They include budgets, forecasts and variances for NCOS, Expenses and Labour Expenses.

Each tab provides the financial position for an individual division, as well as tabs providing different aspects of the department’s financial position.

How can I use the Executive Financial Reports to support my financial planning?

  • The reports can be used to seek insight into how each division is tracking against its budget.
  • The reports display the Full Year (FY) budget against the Year to Date (YTD) actual spend and enable comparison across months and display any identifiable variances.

What should I look for?

  • Is there any variance in actual spend against budget for each division?
  • If there is any variance, what are the reasons for this variance and what corrective actions can be taken?

Where does this data come from?

The data comes from SAP and loads from Monday to Friday at 6am.

Note that although the data loads daily, you will not see data for the current month until after the end of the month. This includes any new cost centres, or cost centres that have active transactions in the current month. This is a new change introduced in October 2017.

Who are the data and report owners and stewards for finance reports?

The data and report owner is the Chief Financial Officer and the steward is the Director, Corporate Finance Management.

Commentary

These reports require authorised users to make comments for a cost centre(s) during the identified monthly reporting period.

It is important to note:

  • Up to seven people can be authorised to make comments for a cost centre.
  • If you are authorised to add a comment you will see an editable text box at the bottom of the report.
  • Once you have entered your comment, click the green button to submit the comment or the red button to cancel.
  • Once a comment has been entered, all authorised staff will be emailed a copy of the comment and a link to the report.  After following the link you must use the slicer in the bottom right of the report to filter to the relevant cost centre to view and edit the comment.
  • The comment will be open for editing for 48 hours from the time they are posted.
  • After this time the comment will be automatically locked and you will not be able to be edit it or add new comments.
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