Budget Builder in Student Manager

Budgeting Our Time What is Budget Builder? How to Access Budget Builder Budget Builder Screen Fee Setup Expense Estimation What Ifs/Actual Budget Builder Vocabulary Budget Reports

What is Budget Builder? Create course budgets. Enter projected income/expenses and the system calculates Go/No numbers, Break Even points, and Profit/Loss estimates. Calculate Go/No go numbers, Break Even points, and Profit/Loss estimates based on enrollments/income from various main registration fees. As you add income/expense records into Pocket Ledger, the system updates the Estimated/Actual amounts.

How to Access Budget Builder Open a Course record. Click the Budget button.

Budget Builder Screen

Fee Level Estimates Estimate number of enrollments you will receive at each fee level.  Add Fees for this budget, Import Courses fees already set up on the Course Fees tab, or Update Course fees with the ones you have added to the budget record.

Per Person Charges Estimate Per Person Charges for the course. Per Person Charges are used in Budget Result calculations, subtracted from the Base Fee Amount to give you a Net (Usable) Fee Amount.   

Overhead/Profit Sharing/Notes Enter a percentage for Overhead and Profit Sharing. And a note, if desired.

Expense Estimation Set up expense estimations for the course on the Expense Estimation Tab. You can categorize expenses into major and sub categories, and mark expenses as Sunk or Program costs. You can also add projected income here from other sources, e.g. Grant money.

Expense Category Calculations The window to the right of the Expense entries shows a summary of expenses by Major Expense Category/Expense Classification Code. Entries are updated as you add/edit/delete Expense Estimation entries.

What If/Actuals Do a quick analysis of Go/No Go and Break Even amounts if your enrollments were to vary and/or if you were to vary your registration fee. These scenarios are not saved and do not effect your budgeted fees and expenses. The What If/Actual tab also displays the number of individuals actually enrolled at each fee level. 

Budget Results Estimated total costs, registration fee breakdown (based on main registration fee), Overhead charge, and number of enrollments required to pay for the course. Also displayed are the Actual Enrollment Count, Expenses (entered into Pocket Ledger), and Profit/Loss.

Budget Results Click the Refresh button to refresh Budget Results after adding fees, per person changes, and expenses.

Budget Vocabulary Base Fee: first fee entered in Fee Setup Sunk: All Estimated Expenses marked as Sunk Program: All Estimated Expenses marked as Program Net (Usable): Base Fee - Total Per Person Charges Overhead: All Expenses X Overhead Charged Profit(Loss): ((Base Fee - Per Person Charges)  X  Enrolled)  +  All Estimated Income)  -  (All Estimated Expenses + Overhead) Go/No Calculation: Program Type Expenses ÷  (Base Fee - Per Person Charges) Break Even Calculation: (All Expenses + Overhead)  ÷  (Base Fee - Total Per Person Charges)

Sunk vs Program Costs Sunk Costs Expenses incurred before the program runs. These will not be recovered if the program fails to run. Examples include marketing, & venue deposits. Program Costs Only incurred -IF- the program runs. Examples include books, food, and instructor fees.

Go/No Go vs Break Even Go/No Go Number of participants required to re-coup PROGRAM costs Break Even Point at which ALL expenses are covered & profit begins!

Budget Reports Quick Reports The Quick Reports button allows you to print a budget report for the particular course.   Some of our standard budget reports: Budget Proposal (includes basic course information) Budget vs Actual Expenses Budget vs Actual Details Budget vs Actual Summary

Budget Proposal

Budget vs Actual Summary

Reports for a Series of Courses You can also run budget reports for a series of courses from the main Reports menu:  Reports > Pocket Ledger > Budget Reports

Questions?

Pocket Ledger: Budget Builder's Companion What's Next? Pocket Ledger: Budget Builder's Companion October 19, 2017