How does SeniorCRE run the annual budget and weekly variance review?
The annual budget is built in a spreadsheet, locked in October, and ignored by March. Weekly variance reviews — when they happen — debate which numbers are right rather than what they mean.
Detail
Budgets are entered per community, per GL account, with driver assumptions (census, ADC, hours per resident day) preserved. Actuals post against budget in real time. Variance review packages generate weekly with the same numbers everyone is looking at — finance, operations, and executives. Re-forecasts apply driver changes without rebuilding the budget.
Variance meetings move from arguing about numbers to deciding what to do about them. Re-forecasts that took a week now take an afternoon.
Key points
- Sage Intacct
- NetSuite
- Adaptive Insights
https://seniorcre.com/workflows/financial/budget-and-variance-management