Grant Revenue & Expenditures - Actual vs Budget
The Grant Actual Expenditures vs Budget report provides a financial comparison of actual grant revenues and expenditures against budgeted amounts. This report is essential for tracking how grant funds are being utilized over different periods, ensuring compliance with funding requirements, and identifying any variances that may require corrective action.
The report is divided into two key sections:
- Year-to-Date (YTD) Analysis – Compares actual revenues and expenditures with budgeted amounts for the current year up to the reporting date.
- Inception-to-Date (ITD) Analysis – Provides a cumulative comparison from the start of each grant to the reporting date, offering a broader financial picture.
By analyzing this data, organizations can assess whether they are under- or over-spending grant funds, make necessary budget adjustments, and ensure adherence to grant terms.
Key Performance Indicators (KPIs) and Descriptions
1. Grant Revenue (Actual vs. Budgeted)
- Definition: Compares the actual grant revenue received against the budgeted amount for both YTD and ITD periods.
- Purpose: Helps determine whether grant funding is on track with expectations and if adjustments are needed in financial planning.
2. Expenditure Variance ($ and %)
- Definition: Measures the difference between actual and budgeted expenditures, both in absolute dollar value and as a percentage.
- Purpose: Identifies grants where spending deviates significantly from budgeted amounts, helping to prevent over- or under-utilization of funds.
3. Revenue Variance ($ and %)
- Definition: Shows how much actual revenue differs from the budgeted revenue, expressed in both dollar terms and percentage.
- Purpose: Highlights shortfalls or excesses in grant income, aiding in cash flow and funding projections.
4. Grant Utilization Rate
- Definition: Percentage of total awarded funds that have been spent to date. Calculated as:
Grant Utilization Rate = (Actual Expenditures / Total Awarded Budget) × 100 - Purpose: Indicates whether funds are being used efficiently within the grant period.
5. Budget Deviation Trend
- Definition: Tracks whether variances are increasing or decreasing over time.
- Purpose: Helps assess if corrective actions are effective and if spending aligns with financial targets.
6. Remaining Budget
- Definition: The remaining unspent portion of the grant budget. Calculated as:
Remaining Budget = Budgeted Amount - Actual Expenditures - Purpose: Ensures that sufficient funds are available for future project phases and prevents overspending.
7. Project Status Indicator
- Definition: Categorizes each grant as "On Track," "Under Budget," or "Over Budget" based on variance thresholds.
- Purpose: Provides a quick visual indicator of grant health for decision-makers.
8. Compliance Risk Index
- Definition: Flags grants with high budget deviations that could lead to compliance risks or funding reallocation.
- Purpose: Supports proactive grant management and mitigates the risk of penalties or funding withdrawal.
These KPIs help grant managers, financial officers, and stakeholders monitor the financial health of grant-funded projects and ensure responsible fund usage.
Mapping and Filtering
Mapping
The following mapping needs to be changed accordingly in the "Mapping" Sheet of each reports
| Report Section | Account Group |
|---|---|
| Grant Expenditures | 1438 |
| Grant Revenue | 1424 |
Filtering
Selection Page:
- Company (Tenant ID)
- Year
- Month
- Parent Fund
- Fund
- Budget
- Book
- Department
- Projects