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The income Projection report allows you to see a projection of what your income should be for a given week or over a selected number of weeks.


A range of funding rates and pay parity attestations can be selected to give you a view of different possible funding rates. This can be used for planning around Parity Band changes.

 

How the projections are calculated:

The projection uses data that is current within the system.

Current child timetables will determine the booked hours, attested hours, and fees.

Based on the timetables, funding is calculated using the desired funding and parity bands. 
Funding figures are shown at the full funding rate (not 75% advance 25% washup).


NOTE: See the funding handbook Appendix 1 for the full list of funding rates.


Best practice:

This report is best used as a budgeting tool alongside your existing budgeting process.

Running this report for a week ahead will give you an accurate projection.

Running this projection for multiple months into the future will give a projection based on what is current in the system - This in turn will give you inaccurate figures as expectedand unexpected changes to your child rolls will occur (20ECE changes, booking changes, new enrolments, or extended absences.


Options:


Number of Weeks 
Select the number of weeks for the projection report from the drop down list.

Week Starting 
Select/Enter the date to start the income projection report.

Enrolment Condition 
Select the required Enrolment category from the drop down list for children to be included in the report.

Select Categories 
Select the required category of children from the drop down list to be included in the report. Can be sorted by age, gender, rooms, etc.

Funding Band 
Select the required funding band from the drop down lsit to use for the report.

Parity Band 
Select the required parity band from the drop down list to use for the report.

Print Mode 
Select the required print mode from the drop down list.

 

Select Create File to creates a CSV file that can be downloaded to your computer.

Select Print to print the report.


The Income Projection Report will show:

Child Name 
Childs preferred name.

Age 
Age in years and months.

Fee
The Fee assigned to the childs timetable.

Booked Hours 
The Number of booked hours over the reporting period.

20 ECE Attested hours 
The Number of attested hours over the reporting period.

Total Fees 
The Fees charged over the reporting period. This excludes any optional charges or discounts.

Optional Charges 
The Optional Charges (products) over the reporting period.

Promotional Discounts 
Promotional discounts over the reporting period.

Fee Discounts 
Fee discounts (timetable discounts) over the reporting period.

Net Charge 
The Total fees expected on the parents’ invoice. [Total Fees, +/- Optional Charges, + discounts = Net Charge]

Under 2 Funding 

The Funding expected within the under 2 funding rate.

Over 2 Funding 

The Funding expected within the over 2 funding rate. This includes over 3 child who have not attested any hours to 20ECE.

20 ECE Funding 

The Funding expected within the 20 ECE funding rate.

Plus 10 Funding 

The Funding expected within the plus 10 funding rate.

Total income 

The Total income expected for the select reporting period. [ Net Charge + Funding = Total income]


Why does the projection not match my actual income?

As this is a projection, the figures are based on a perfect outcome of fees and funding. Funding data in the report is also showing at a full rate and not broken down into a washup/advance payment.


Depending on when and for what period the projection is run for a number of changes could have occurred.

It is recommended this report is run for a shorter period or over a period where you have confirmed all bookings.

Running this 6 months ahead of the current date will leave 6 months for enrolment changes.


Other conditions may also cause the figures to change.

  • Manual adjustments to invoices.
  • Overdue fees write off.
  • Adjustment to children's timetables.
  • Enrolment changes.
  • Funding exemptions.
  • Funding rate changes.


 For further information or assistance call

0508 INFOCARE (0508 463622) or email help@infocaresolutions.co.nz 

© 2018 Infocare Systems Limited