Manager of Operating Budget Control & Financial Administration
This report is updated 4 times per year (quarterly), typically available within one month after the variance report dates (i.e. March 31, June 30, September 30, December 31)
The quarterly operating budget variance report is a document that provides explanations and details as to the difference between the forecasted net expenditures and the corresponding budgeted figures for each of the department in the Corporation
The quarterly operating budget variance report (Appendix A) includes a 3 year history for each department’s net budget, net expenditures and forecasted year end variances, broken down quarterly. It also includes a section to explain the quarterly variance projections, summary of the dollar variances by category, and a section for mitigating steps.