Projected Funding in PICSWeb uses your financial data to predict your funding for each period over the course of an ILR year. These calculations are based on the ILR values in your learner records and include planned completions.
Selecting Projected Funding from the Month End section of the PICSWeb side menu will open the Projected Funding Summary. This page displays some information about how projected funding works and manages both automatic and manual projected funding calculations.
Projected Funding Status
The Projected Funding Status section displays the following information:
Automatic Calculations Enabled – If this is set to Yes, projected funding calculations will be run automatically every night. Automatic calculations can be turned on and off in the Settings window explained below.
Automatic Calculations Last Run – This displays the date and time when the last automatic calculations were run and whether the process was successful or not.
Status – This table shows each ILR Year and when projected funding calculations were most recently run for each year.
Projected Funding Reports
For each ILR Year where projected funding has been calculated, a report is available to Download with some overall information for the year. The report is made up of the following sheets:
A Summary sheet with totals against each Calculation Basis
A Process Warnings sheet for identifying why learners are not receiving any projected funding
A Funding Breakdown sheet showing totals against each Funding Line
Projected Funding Actions
The Actions section of the projected funding page contains an option to Run Projected Funding Now. This allows you to manually run projected funding and will not affect the schedule of your automatic calculations.
Selecting this option will open a window explaining the calculation process and allowing you to specify the ILR Year.
Once you have chosen, select Calculate to run the calculations. The calculations will be run as a background process, allowing you to use PICSWeb in the meantime.
Once the calculations are complete, you will be notified by email. You can then use any of the methods explained below to view your projected funding values.
Projected Funding Settings
Selecting Settings will open a window where you can choose whether or not to run Automatic Calculations. If this is switched on, your projected funding will be calculated every night.
If you have made any changes in this window, select Save to confirm them or Cancel to discard them.
Viewing Projected Funding
There are several ways to view projected funding values in PICSWeb. Each method will use the values from the most recent calculation. The Status section explained above displays when this calculation took place.