Budget Variance - Current Year vs. Budget

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The Budget Variance - Current Year vs Budget report (IRR1042s.rpt) provides a comparison between actual/projected account data to the default budget set data for fiscal year end results.

The report uses the current default budget set.  The budget set will be displayed on the report in the upper left hand corner under the As of: date.

The example report shown below shows the variance for your balance sheet and income statement accounts.  Depending on the Bal_Type parameter selected, the report will display the data using Ending (End) or Average (Avg) balances on the balance sheet side. The income statement side will always use Ending (End) balances.

The Budget Variance - Current Year vs Budget report can be configured through the parameter selection to provide different views. The following screen displays the system parameter that can be customized by the bank.

There is one system parameter for this report which can be changed by the user:

Parameter 1: Bal_Type - Select Average(Avg.) or Ending(End.).  This parameter pertains to the balance sheet side of the General Ledger.  The Income side will always use ending balances.  The report will print which balance type you have selected in the upper right hand area, above the column headers.

Parameter 2: Bdgt_Scenario - Select the budget simulation from the drop down box. The data source field on the report will display the budget simulation name located in the upper left hand corner under the budget set name.

Calculations

Here the report is showing the Fiscal year end period’s current year historical/projection balance compared to the budget’s fiscal year end period data.  Calculations are:

$Var = Cur Yr End balances – Budget Year End Balances

%Var = $Var divided by the Budget Year end balances (times 100 for a percent)

Balance Sheet Accounts:

Income Statement Accounts: