Financial Health Summary
- Last UpdatedJan 23, 2024
- 4 minute read
The Summary view of the contract Financial Health page displays includes a graphical representation of commitment and expenditure values, compared to the Approved Contract Budget and Not to Exceed Contract Value.
Commitment/change and expenditure are classified as potential, pending or approved amounts.
To view a contract's financial health summary:
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Navigate to the home page of the contract whose financial health you want to view.
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Click the Financial Health tab.
The Financial Health page for the current contract is displayed. Values are shown in the contract base currency.
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If necessary, select Summary from the drop-down filter.
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Select the values you want to display from the drop-down list:
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Roll Up in Contract Currency - The values are displayed in the contract base currency.
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Roll Up in Org Base Currency - The values are displayed in the Organization base currency.
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XXX Transactions only - Only values for communications in the specified currency (XXX) are displayed, with no conversion required.
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To perform an ad hoc calculation for Roll Up in Org Base Currency and Roll Up in Contract Currency using a different set of exchange rates:
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Click Currency Conversion
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Enter the new currency rates.
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Click
to update the values.
The default values for the currency rates are those specified in the Contract Configuration. Note that any alternative exchange rates entered for the ad hoc calculation are not stored in the system; they are used only for the purpose of performing this ad hoc calculation.
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The values shown may not exactly reflect those calculated elsewhere using a single exchange rate for all contracts and communications, for the following reasons:
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Contracts may have different currency exchange rates for the same currency, as defined in the Contract Configurations.
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For communications in a multi-currency contract, which do not use the contract base currency, the exchange rates used for the communications are 'frozen' when they are updated from the Draft state, i.e. the system uses the currency exchange rate that was in effect at the time the communication was issued.
The following tables describe the values displayed for the standard contract or call off financial health.
Graphs
Note All values are shown in the contract base currency regardless of the display selected from the drop-down list.
|
Field |
Description |
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Budget |
The value of the approved budget for the contract, which can include internal costs unrelated to the contractor. |
|
Not to Exceed |
The Not to Exceed value of the contract; a financial commitment value related to the contract award value, which includes contingency for unplanned variations. Calculated as the Initial Not to Exceed Contract Value plus the sum of the financial values of communications in the Not to Exceed Contract Value reporting category. |
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Potential Commitment |
The sum of the financial values for communications in the Potential Contract Change reporting category + the Pending Commitment value. |
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Pending Commitment |
The sum of the financial values for communications in the Pending Contract Change reporting category + the Approved Commitment value. |
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Approved Commitment |
The sum of the financial values for communications in the Approved Contract Change reporting category + the Contract Award value. |
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Contract Award Value |
The award value of the contract. |
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Potential Expenditure |
The sum of the financial values for communications in the Potential Contract Expenditure reporting category + the Pending Expenditure value. |
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Pending Expenditure |
The sum of the financial values for communications in the Pending Contract Expenditure reporting category + the Approved Expenditure value. |
|
Approved Expenditure |
The sum of the financial values for communications in the Approved Contract Expenditure reporting category. |
Commitments
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Column |
Description |
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Type of commitment |
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Variations |
Two columns are displayed:
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Summary |
Displayed only when Roll Up in Org Base Currency or Roll Up in Contract Currency has been selected. The total value of all changes:
|
Expenditure
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Column |
Description |
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Type of expenditure |
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Value |
The total value of the expenditures of that type. |
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Summary |
Displayed only when Roll Up in Org Base Currency or Roll Up in Contract Currency has been selected. The total value of all expenditure:
|