From 2fc90e58e16c8750007b19635156af168c9d6ac7 Mon Sep 17 00:00:00 2001 From: Harold Campbell Date: Fri, 29 Mar 2024 13:31:06 -0400 Subject: [PATCH] Add expectations and responsibility information to budget update process (#831) * Update projections.md * Update budget projections instructions --------- Co-authored-by: Chris Holdgraf --- engineering/roles/delivery-manager.md | 1 + finance/projections.md | 33 ++++++++++++++++++--------- partnerships/roles/lead.md | 1 + 3 files changed, 24 insertions(+), 11 deletions(-) diff --git a/engineering/roles/delivery-manager.md b/engineering/roles/delivery-manager.md index 05412480..35d6e155 100644 --- a/engineering/roles/delivery-manager.md +++ b/engineering/roles/delivery-manager.md @@ -1,5 +1,6 @@ ```{role} Delivery Manager and Chief of Staff ``` +(role:delivery-manager)= # Delivery Manager / Chief of Staff ```{note} diff --git a/finance/projections.md b/finance/projections.md index 2c3f24c0..db0aead7 100644 --- a/finance/projections.md +++ b/finance/projections.md @@ -2,8 +2,6 @@ # Budget projections Our budget projection model begins with a source of truth about our **current and historical costs and revenue**, and then projects into the future by making assumptions about these numbers. -It allows us to manually specify costs and revenue in the future, if we **know** that they will happen. -It also lets us specify repeating numbers each month, and a percentage growth rate for monthly recurring revenues. ```{admonition} Feel free to edit and experiment The projections sheet is a **tool** to be used to understand how our hiring and cost decisions will affect our finances moving forward. @@ -20,17 +18,30 @@ Budget projections model ## Update our budget projections model -The model can be updated to begin on a new date, and to reflect the latest data for our "Cash on Hand". -It then updates its projections based on our Income and Expenses assumptions. +Each month, we get a new batch of accounting data from CS&S. +We use this as an opportunity to update our budget projections, which includes the following actions: -To update this model with the latest information, [follow the instructions in the first tab the model](https://docs.google.com/spreadsheets/d/1zDO_kqnJ1PH3GWOMks5E_1oIpoAJgseWhj3oCohUVZk/edit#gid=929955044). +- Confirm that our Contracts information is correct. +- Flag any items that require extra attention, such as Contracts that will expire soon. +- Update our financial projections and calculate a new runway for 2i2c. +[Here's a document with the process to update the budget projections](https://docs.google.com/document/d/1iG2USbvccMGeobKpH52j37LZpmeNASKedJrb0mX8R8Y/edit?usp=sharing). -## Burn rate +## Roles and responsibility for tracking our contracts portfolio -We can use the budget projections model to calculate our Burn Rate (how quickly we are losing/gaining money, and when we will reach `$0`.) -To do so follow these steps: +Our monthly process for tracking our contracts portfolio requires input from CS&S, the [](#role:delivery-manager) and the [](#role:partnerships-lead). +Both need to cultivate an ongoing understanding of the portfolio to: -- Go to [our budget projections sheet](accounting:projections). -- Look at the `Summary` tab. -- This shows our burn rate, along with 9 and 24 month cutoffs. +- Be able to update it as a source of truth +- Identify accounting or contractual deviations. + +### Delivery Manager's responsibilities + +The Delivery Manager is responsible for monitoring the systems that we have for tracking contracts in collaboration with the CS&S team. +Accounting deviations or concerns will be reported to the Partnership Lead. + +The Delivery Manager is responsible for refining this process over time. + +### Partnership Lead's responsibilities + +The Partnership Lead is responsible for taking actions to follow up with communities and/or triggering processes in CS&S to move actions forward. They work closely with the Delivery Manager to ensure the system is working effectively. diff --git a/partnerships/roles/lead.md b/partnerships/roles/lead.md index 15b45fd0..15084662 100644 --- a/partnerships/roles/lead.md +++ b/partnerships/roles/lead.md @@ -1,5 +1,6 @@ ```{role} Partnerships Lead ``` +(role:partnerships-lead)= # Partnerships Lead Ensures that 2i2c has effective relationships (sales, contracts, invoicing, service delivery) and the resources required to achieve its mission {role}`Partnerships Lead`.