Budget Maestro’s built-in accounting rules and formula-free calculations provide educational institutions an easier and more reliable way to budget and plan. Whether you are budgeting for departments, campuses, programs, or districts, you’ll have the accurate, timely and actionable financial and operational data you need.
Get the answers you need
Easy-to-use what-if scenario capabilities allow you to change assumptions and immediately see the impact on your revenue, expenses, and cash flow. For example:
- If enrollment goals aren’t met can we still launch our online education program?
- If government or private funding is delayed, will we need to raise tuition?
- Do we have cash flow available to purchase new lab equipment and furniture?
With Budget Maestro education provider budgeting and planning software, Educational Facilities can:
Gain control over personnel expenditures
- Accurately track payroll, payroll taxes, and fringe benefits for each staff or faculty member groups and allocate expenses across departments
- Drive staffing requirements for departments based on key drivers such as enrollment or projected revenue
Manage cash flow fluctuations
- Track expected vs. actual incoming grants, endowments, merchandise commissions, or tuition increases to monitor cash flow
- Regulate seasonality and unknowns through continuous forecasting
Match expenses to revenue
- Control costs associated with instruction and administration through consistent forecasting and analysis
- Produce and distribute expense to revenue matching
Produce accurate revenue forecasts
- Forecast and track revenue for sources such as services, annual fund donations, and grants
- Generate what-if scenarios to explore different revenue streams such as performances, bake sales, reunions, research hospitals, distance learning, alumni services, enrollment numbers, etc.
- Accurately group student types (part-time, full-time, program) for precise revenue planning
- Produce driver-based plans using key performance indicators (KPIs): acceptance rate, enrollment, graduation rate, student/professor ratio and cost per employee
Meet educational reporting requirements
- File P&L, Balance Sheets and Cash Flow in a timely manner, properly reflecting revenue and expenses
- Encourage accountability throughout the organization with collaborative reporting