Financial Analysis Reports
The following analytical tools are used to evaluate the progress of actual and forecasted amounts against the budget. They are also a useful tool for preparing the budget and forecast since it provides historical and current information.
Analyzing actuals vs. budget
Banner: Banner is the institute's main database for housing financial (actual and budget) and non-financial information. It is the main source of information that feeds into other reporting systems such as Cognos and TM1.
Cognos reports: This database provides a set of reports with predetermined parameters where the user can specify the constraints of those parameters. The data is derived from Banner information so it does not include forecasted amounts.
Cognos Cube: This database provides the user with the ability to "build" tables (rows and columns) and determine the parameters and constraints of those parameters. It has "drill down" capabilities and allows for additional manipulation when exported to Excel (additional formulas, formatting, grouping, etc.). The data is derived from Banner information so it does not include forecasted amounts.
Staff Complement reports [PDF]: These reports are maintained throughout the year and are available for budget preparation. The report consists of information on all permanent positions by organization code. Current actual and budget information is provided.
Analyzing actuals vs. budget vs. forecast
TM1: This database is comprised of a budget and forecast module and therefore provides the user with actuals, budget, and forecast information. The budget and actuals are derived from the information in Banner. The forecast amount may be a combination of system-generated estimates as well as user input. The system-generated estimates are based on the last two year's activity for that account type (revenue or expense). The user has the ability to change these estimates based on the information they have at the time of the budget and/or forecast preparation.