Financial Requirement Forecasting and Execution
Capture Spend Plans, Create Commitment Documents, Track Execution
Before funds are executed, CCaR allows organizations to capture commitment, obligation and expenditure forecasts. Forecasting is event-driven for commitments, obligations and expenditures. Each forecast event consists of an event title, planning, revised and baseline dates/amounts and an event description. CCaR can automatically spread budget across a forecast (i.e. monthly, quarterly, etc) and can update the spread to account for actual execution as needed. At the start of a fiscal year, a baseline forecast is established to document the organization’s execution goals. As time passes, additions, slips and deletions may be made to the revised plans. CCaR ensures the forecasts are accurate by providing planning status indicators for all budget efforts. When the date of a forecasted event passes for a budget effort, CCaR automatically checks to determine if an actual obligation/expenditure has been posted. If no obligation/expenditure has posted or if the posting is for an amount less than the forecast, CCaR will flag the effort for a forecast update. Should an organization be behind in its forecasts, this feature will allow them to immediately determine the specific efforts causing the deficiency as well as the responsible project officer.
After funds are appropriated and allocated, the authorized funding is captured in CCaR and distributed down to the individual financial requirements. CCaR can be used to create, coordinate and approve target loads and electronically transmit the target loads to the accounting system.
Commitment documents can be prepared directly in CCaR and electronically submitted to the accounting system. The ability to tie execution directly to the originating requirement provides organizations using CCaR with the complete requirements management picture. CCaR provides this by allowing commitment documents to be generated directly from the CCaR Record. The CCaR system even assists in completing any of the available funding documents by automatically filling in a number of document fields and providing drop-down list boxes for the remaining fields. Documents may be coordinated through customizable CCaR workflows or electronically transferred to automated purchase request systems like the ABSS. Customizable CCaR business rules prevent users from over-committing at both the requirement and overall budget level, which helps to prevent Anti-Deficiency Act (ADA) violations. Obligations, expenditures and disbursements are also captured in CCaR. CCaR interfaces with various accounting systems to capture the official execution position. CCaR automatically compares actual execution to forecasts to identify financial requirements that are being executed behind the forecasted plan.