I agree with the forecast. Ideally, managers would like to see Budget vs YTD Actuals + Forecasts so they can identify free cash flows by having oversight over areas of underspending and overspending. I would also suggest some kind of "encumbrance" for approved expenditure in the forecasts bracket. Items in the "encumbrance" include approved travel plans, purchase order and approved projects. These items have not yet incurred actual expenditure nor been legally committed to but they have been internally agreed to.
Jay Luangtongplew
supported this idea
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I agree with the forecast. Ideally, managers would like to see Budget vs YTD Actuals + Forecasts so they can identify free cash flows by having oversight over areas of underspending and overspending. I would also suggest some kind of "encumbrance" for approved expenditure in the forecasts bracket. Items in the "encumbrance" include approved travel plans, purchase order and approved projects. These items have not yet incurred actual expenditure nor been legally committed to but they have been internally agreed to.