Budget planner

Schools budget forecasting tool

The budget planning software tool provided as part of the schools buy-in to finance services is available to support all maintained schools in Oxfordshire with their budget planning. The tool allows schools to plan in detail their budget over a 3 to 5 financial year period. The output from the tool will also produce financial statements to support budget proposals presented to the school’s governors for approval and for submission to the local authority.

The budget planning tool also contains additional functionality to help with the school’s budget monitoring including salary reconciliation to compare actual salary payments uploaded from the IBC with the forecast expenditure for individuals on a monthly basis and brings together expenditure to date uploaded from the IBC and combined with the latest budget forecast to the end of the year to give an estimated outturn figure.

The tool allows easy adjustment of forecast figures and inclusion of both high level and detailed comments. A number of electronic and paper reports in different formats and at various levels of detail are available to support the school’s budget monitoring reporting to their governors and the LA. See also Budget monitoring.

Help guides are included within the tool and further support is available through your school’s EFS finance adviser.