Management Reports

Management Reports are financial snapshots provided to department leadership twice a year to facilitate discussions on budget status. The reports combine data from Western’s financial system with year-end projections allowing deans and directors to identify potential funding opportunities or issues before the end of the fiscal year.

SMB creates and distributes Management Reports as a tool to assist departments in strategic budgeting, to promote financial stewardship, and to facilitate communication about planned spending not yet reflected in the system.

Management Reports are Excel workbooks containing a summary dashboard, a department-level report, and a data tab with fund-level financial data. The fund data sheet includes input areas for forecasts that update year-end balance projections throughout the workbook and dashboards.

Management Reports are different from other available reports because users can enter forecasts for planned revenue, expenses, and transfers and evaluate the impacts on their budget.

Funds that are predicted to have a year-end deficit are highlighted in the report for additional, required information. Deans and directors will need to communicate their plans for these funds with forecast entry and a brief explanation of their plan.

Management Reports are distributed to individuals who report directly to vice presidents and vice provosts, such as deans and directors. Financial managers and unit administrators will likely assist with the reports, but it is ultimately the responsibility of deans and directors to review the year-end balance projections, add forecasts for future revenue, expenses, and transfers, and address any identified or projected deficits.

Guide to Completing Management Reports

If you have been tasked with reviewing and submitting a Management Report on behalf of your department, check out our Guide to Completing Management Reports.