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

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).

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 expect and unexpected changes to your child rolls will occur (20ECE changes, booking changes, new enrolments, or extended absences.


Options:

Number of Weeks – How many weeks are used in the projection.

Week Starting – From which week do you start the projection.

Attendance Condition – What attendance condition must children be assigned to be included in the projection.

Select Categories – Select which category a child belongs to. Can be sorted by age, gender, rooms, etc.

Funding Band – Which funding band the projection will use for funding.

Parity Band – Which parity band the projection will use for funding.

Print Mode – Landscape or portrait.

 

Create File - Creates a spreadsheet for external use.

Print - Produces a preview of the printed data.

Printed Data:

Child Name – Childs preferred name.

Age – Age in years and months.

Fee – Fee the child is assigned to

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

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

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

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

Under 2 Funding – Funding expected within the under 2 funding rate.

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

20 ECE Funding – Funding expected within the 20 ECE funding rate.

Plus 10 Funding – Funding expected within the plus 10 funding rate.

Total income – 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 is also showing at a full rate and not broken down into a washup/advance payment.


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

It is recommended you run this report 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.