What is a Monthly Fund Report?

Monthly Fund Statements are considered period end financial statements and are used by government controllers and accountants to review revenues, expenditures and remaining balances by fund. Some of the main functionality in this type of financial report is that it is parameter driven and the user can run it for any year/period and fund. Typical columns in the report include: 1) Adopted budget, 2) Amended budget, 3) Month-do-date (MTD) actual, 4) Year-to-date (YTD) actual, 5)Balance, and 6) Percent remaining (available). The rows list revenues and expenses by account as well as the balance. You find an example of this type of financial report below.

Purpose of Monthly Fund Statements

Public Sector organizations use Monthly Fund Statements to provide managers with a clear picture of the current financial status for each fund. When used as part of good business practices in Accounting departments, a government entity can improve its fund reporting and analysis, and it can reduce the chances that actual results deviate more than expected from budgets.

Example of a Monthly Fund Statement

Here is an example of a Monthly Fund Statement with actual, budget and remaining balance information.

Example of a Monthly Fund Report for Public Sector Organizations

Example of a Monthly Fund Report for Public Sector Organizations

You can find hundreds of additional examples here

Who Uses This Type of Financial report?

The typical users of this type of financial report are: CFOs, controllers, accountants, executives.

Other Reports Often Used in Conjunction with Monthly Fund Statements

Progressive Accounting departments sometimes use several different Monthly Fund Statements, along with cash flow statements, balance sheets, sources and uses of funds, fund dashboards, trial balances, annual budget models and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples