The City conducts a forecast process for the 2nd, 3rd, and 4th quarter of the fiscal year. The forecast estimates the revenues and expenditures for each budgeted fund. By keeping a less than 1% variance in all fund forecasts, the City is alerted to potential shortfalls and surpluses in advance to allow appropriate action to be taken by the City.

Peoplesoft Forecast Ledger will house the revenue and expenditures forecast (the forecast conducted by the Budget Division) compared to the actual revenues and expenditures by fund for the fiscal year. The analysis will be saved on an Excel spreadsheet, named "Fund Forecasting KPI", and can be retrieved on the following shared drive: \\fs100\finance\KPI\Budget

Actual = (Revenue-Expenditure Forecast / Actual Revenues-Expenditures)*100