Budget vs. Actual
Monthly revenue and OPEX compared with budget in both dollars and percent.
Financial Planning & Analysis | Forecasting | Budgeting | Performance Analytics
This is an independent FP&A project focused on financial planning, budgeting, performance analysis and management reporting. It turns 24 months of actuals and budget into a one-page executive dashboard, a month-by-month variance analysis and a cash flow view.
Developed and adapted an FP&A financial planning and performance dashboard designed to analyze budget-versus-actual performance, revenue and operating-expense variances, KPIs, cash flow and planning scenarios.
The model incorporates monthly actuals and budget data, formula-driven KPI calculations, revenue and OPEX variance analysis, EBITDA and margin analysis, net cash flow monitoring, a rolling three-month revenue view, and Base / Optimistic / Downside scenario multipliers.
Key outputs include revenue, OPEX, EBITDA and EBITDA margin, net cash flow, budget variances, rolling three-month revenue and full-period scenario impacts.
Raw actuals and budget feed a single KPI sheet; every dashboard, variance table and cash flow view is a formula-driven reading of that sheet.
24 months (Jan 2024 – Dec 2025) of revenue, OPEX, capex, cash in and cash out, plus monthly budget revenue and OPEX.
Variance $ and %, EBITDA, net cash flow and rolling 3-month revenue as transparent Excel formulas.
A one-page dashboard of KPI cards and four trend charts.
Month-by-month actual vs. budget with above / below budget commentary.
Net cash flow monitoring and a rolling 3-month revenue view.
Base, Optimistic and Downside multipliers applied to revenue and OPEX.
10 automated checks on data alignment, formula errors and scenario logic.
Monthly revenue and OPEX compared with budget in both dollars and percent.
A month-by-month revenue variance table with commentary; 16 of 24 months finished above budget.
EBITDA, EBITDA margin, variances and net cash flow built as transparent formulas that replicate the original Power BI measures.
Cash in, cash out and net cash flow by month, with total and average liquidity summaries.
A trailing three-month revenue view for directional trend monitoring.
Base, Optimistic and Downside multipliers flex revenue and OPEX totals with a single selector.
Figures are as recorded in the Excel model for the 24-month period (Base scenario) and are not read live from the file. The dataset is simulated.
Variances are actual less budget, so a positive revenue variance is favorable while a positive OPEX variance means spending above budget. EBITDA is revenue less OPEX (a simplified proxy; the source data has no cost of goods sold or D&A). Average monthly cash flow: $148,448; average monthly revenue variance: +0.98%.
Type a question about this dashboard, or tap one below. It answers only from this model's own figures and assumptions.
Each view is rebuilt from the values on a worksheet, so the tables and charts stay legible on any screen.
Period: Jan-2024 to Dec-2025 | Active Scenario: Base. Positive OPEX variance means spending above budget. EBITDA here is revenue less OPEX, a simplified proxy as defined in the workbook. The four charts mirror those on the workbook's Executive Overview sheet.
| Month | Revenue | Budget revenue | Variance $ | Variance % | Status |
|---|---|---|---|---|---|
| Jan 2024 | $462,251 | $444,137 | +$18,114 | +4.1% | Above budget |
| Feb 2024 | $497,488 | $496,610 | +$878 | +0.2% | Above budget |
| Mar 2024 | $506,898 | $489,090 | +$17,808 | +3.6% | Above budget |
| Apr 2024 | $474,963 | $477,432 | −$2,469 | −0.5% | Below budget |
| May 2024 | $536,028 | $523,091 | +$12,937 | +2.5% | Above budget |
| Jun 2024 | $466,264 | $475,652 | −$9,388 | −2.0% | Below budget |
| Jul 2024 | $468,316 | $472,335 | −$4,019 | −0.9% | Below budget |
| Aug 2024 | $504,131 | $498,913 | +$5,218 | +1.0% | Above budget |
| Sep 2024 | $473,869 | $477,715 | −$3,846 | −0.8% | Below budget |
| Oct 2024 | $463,637 | $447,973 | +$15,664 | +3.5% | Above budget |
| Nov 2024 | $525,231 | $538,350 | −$13,119 | −2.4% | Below budget |
| Dec 2024 | $494,883 | $489,544 | +$5,339 | +1.1% | Above budget |
| Jan 2025 | $489,688 | $501,032 | −$11,344 | −2.3% | Below budget |
| Feb 2025 | $526,053 | $508,169 | +$17,884 | +3.5% | Above budget |
| Mar 2025 | $523,412 | $514,891 | +$8,521 | +1.7% | Above budget |
| Apr 2025 | $536,122 | $545,698 | −$9,576 | −1.8% | Below budget |
| May 2025 | $495,786 | $479,537 | +$16,249 | +3.4% | Above budget |
| Jun 2025 | $502,834 | $502,390 | +$444 | +0.1% | Above budget |
| Jul 2025 | $490,661 | $488,366 | +$2,295 | +0.5% | Above budget |
| Aug 2025 | $521,823 | $536,903 | −$15,080 | −2.8% | Below budget |
| Sep 2025 | $506,020 | $486,884 | +$19,136 | +3.9% | Above budget |
| Oct 2025 | $506,828 | $503,593 | +$3,235 | +0.6% | Above budget |
| Nov 2025 | $499,575 | $482,887 | +$16,688 | +3.5% | Above budget |
| Dec 2025 | $461,149 | $443,947 | +$17,202 | +3.9% | Above budget |
Variance $ = revenue − budget revenue; variance % = variance ÷ budget revenue. The workbook adds a one-line commentary to each month (above budget: favorable; below budget: review demand and pricing drivers).
| Month | Cash in | Cash out | Net cash flow | Rolling 3M revenue |
|---|---|---|---|---|
| Jan 2024 | $456,080 | $362,798 | $93,282 | $462,251† |
| Feb 2024 | $504,880 | $351,720 | $153,160 | $959,739† |
| Mar 2024 | $523,725 | $348,016 | $175,709 | $1,466,637 |
| Apr 2024 | $484,701 | $317,838 | $166,863 | $1,479,349 |
| May 2024 | $527,136 | $348,303 | $178,833 | $1,517,889 |
| Jun 2024 | $482,947 | $372,933 | $110,014 | $1,477,255 |
| Jul 2024 | $461,591 | $354,630 | $106,961 | $1,470,608 |
| Aug 2024 | $504,182 | $373,456 | $130,726 | $1,438,711 |
| Sep 2024 | $480,670 | $337,457 | $143,213 | $1,446,316 |
| Oct 2024 | $470,247 | $336,222 | $134,025 | $1,441,637 |
| Nov 2024 | $523,520 | $332,281 | $191,239 | $1,462,737 |
| Dec 2024 | $502,731 | $352,930 | $149,801 | $1,483,751 |
| Jan 2025 | $498,398 | $362,658 | $135,740 | $1,509,802 |
| Feb 2025 | $536,607 | $361,607 | $175,000 | $1,510,624 |
| Mar 2025 | $538,562 | $344,773 | $193,789 | $1,539,153 |
| Apr 2025 | $546,962 | $337,083 | $209,879 | $1,585,587 |
| May 2025 | $514,404 | $348,387 | $166,017 | $1,555,320 |
| Jun 2025 | $495,052 | $352,864 | $142,188 | $1,534,742 |
| Jul 2025 | $487,328 | $360,778 | $126,550 | $1,489,281 |
| Aug 2025 | $518,836 | $344,386 | $174,450 | $1,515,318 |
| Sep 2025 | $517,090 | $370,557 | $146,533 | $1,518,504 |
| Oct 2025 | $514,793 | $344,729 | $170,064 | $1,534,671 |
| Nov 2025 | $494,060 | $382,029 | $112,031 | $1,512,423 |
| Dec 2025 | $457,521 | $380,845 | $76,676 | $1,467,552 |
Net cash flow = cash in − cash out. The rolling 3-month revenue is a trailing three-month sum (the workbook labels it a forecast). † The first two months sum fewer than three months of data.
| Scenario | Revenue adj. | OPEX adj. | Total revenue | Total OPEX | Δ revenue vs Base | Δ OPEX vs Base |
|---|---|---|---|---|---|---|
| Base | 1.00x | 1.00x | $11,933,910 | $7,570,334 | — | — |
| Optimistic | 1.10x | 0.95x | $13,127,301 | $7,191,817 | +$1,193,391 | −$378,517 |
| Downside | 0.90x | 1.08x | $10,740,519 | $8,175,961 | −$1,193,391 | +$605,627 |
Definitions: Optimistic = +10% Revenue / −5% OPEX vs. Base. Downside = −10% Revenue / +8% OPEX vs. Base, reflecting a stress scenario for planning purposes. The multipliers are illustrative planning assumptions from the original project. The workbook applies the selected multiplier to full-period revenue and OPEX totals in its Scenario Impact Summary; each row above applies that scenario's multipliers to the same totals. The workbook is saved on the Base case.
| Month | Revenue | Budget rev. | Rev. var $ | Rev. var % | OPEX | Budget OPEX | OPEX var $ | OPEX var % | EBITDA | Net cash flow | Rolling 3M rev. |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 24 | $462,251 | $444,137 | +$18,114 | +4.1% | $298,610 | $284,682 | +$13,928 | +4.9% | $163,641 | $93,282 | $462,251 |
| Feb 24 | $497,488 | $496,610 | +$878 | +0.2% | $320,893 | $327,492 | −$6,599 | −2.0% | $176,595 | $153,160 | $959,739 |
| Mar 24 | $506,898 | $489,090 | +$17,808 | +3.6% | $306,537 | $295,454 | +$11,083 | +3.8% | $200,361 | $175,709 | $1,466,637 |
| Apr 24 | $474,963 | $477,432 | −$2,469 | −0.5% | $297,598 | $284,924 | +$12,674 | +4.4% | $177,365 | $166,863 | $1,479,349 |
| May 24 | $536,028 | $523,091 | +$12,937 | +2.5% | $309,281 | $313,074 | −$3,793 | −1.2% | $226,747 | $178,833 | $1,517,889 |
| Jun 24 | $466,264 | $475,652 | −$9,388 | −2.0% | $313,419 | $303,027 | +$10,392 | +3.4% | $152,845 | $110,014 | $1,477,255 |
| Jul 24 | $468,316 | $472,335 | −$4,019 | −0.9% | $319,343 | $326,972 | −$7,629 | −2.3% | $148,973 | $106,961 | $1,470,608 |
| Aug 24 | $504,131 | $498,913 | +$5,218 | +1.0% | $333,538 | $339,921 | −$6,383 | −1.9% | $170,593 | $130,726 | $1,438,711 |
| Sep 24 | $473,869 | $477,715 | −$3,846 | −0.8% | $304,124 | $319,070 | −$14,946 | −4.7% | $169,745 | $143,213 | $1,446,316 |
| Oct 24 | $463,637 | $447,973 | +$15,664 | +3.5% | $308,402 | $305,731 | +$2,671 | +0.9% | $155,235 | $134,025 | $1,441,637 |
| Nov 24 | $525,231 | $538,350 | −$13,119 | −2.4% | $296,054 | $301,338 | −$5,284 | −1.8% | $229,177 | $191,239 | $1,462,737 |
| Dec 24 | $494,883 | $489,544 | +$5,339 | +1.1% | $333,141 | $321,491 | +$11,650 | +3.6% | $161,742 | $149,801 | $1,483,751 |
| Jan 25 | $489,688 | $501,032 | −$11,344 | −2.3% | $331,392 | $342,772 | −$11,380 | −3.3% | $158,296 | $135,740 | $1,509,802 |
| Feb 25 | $526,053 | $508,169 | +$17,884 | +3.5% | $318,153 | $329,508 | −$11,355 | −3.4% | $207,900 | $175,000 | $1,510,624 |
| Mar 25 | $523,412 | $514,891 | +$8,521 | +1.7% | $295,460 | $288,215 | +$7,245 | +2.5% | $227,952 | $193,789 | $1,539,153 |
| Apr 25 | $536,122 | $545,698 | −$9,576 | −1.8% | $297,411 | $288,062 | +$9,349 | +3.2% | $238,711 | $209,879 | $1,585,587 |
| May 25 | $495,786 | $479,537 | +$16,249 | +3.4% | $306,413 | $303,233 | +$3,180 | +1.0% | $189,373 | $166,017 | $1,555,320 |
| Jun 25 | $502,834 | $502,390 | +$444 | +0.1% | $304,818 | $319,216 | −$14,398 | −4.5% | $198,016 | $142,188 | $1,534,742 |
| Jul 25 | $490,661 | $488,366 | +$2,295 | +0.5% | $315,735 | $315,692 | +$43 | +0.0% | $174,926 | $126,550 | $1,489,281 |
| Aug 25 | $521,823 | $536,903 | −$15,080 | −2.8% | $318,674 | $324,232 | −$5,558 | −1.7% | $203,149 | $174,450 | $1,515,318 |
| Sep 25 | $506,020 | $486,884 | +$19,136 | +3.9% | $320,965 | $325,304 | −$4,339 | −1.3% | $185,055 | $146,533 | $1,518,504 |
| Oct 25 | $506,828 | $503,593 | +$3,235 | +0.6% | $338,944 | $334,306 | +$4,638 | +1.4% | $167,884 | $170,064 | $1,534,671 |
| Nov 25 | $499,575 | $482,887 | +$16,688 | +3.5% | $344,387 | $346,991 | −$2,604 | −0.8% | $155,188 | $112,031 | $1,512,423 |
| Dec 25 | $461,149 | $443,947 | +$17,202 | +3.9% | $337,042 | $324,310 | +$12,732 | +3.9% | $124,107 | $76,676 | $1,467,552 |
| Total | $11,933,910 | $11,825,139 | +$108,771 | $7,570,334 | $7,565,017 | +$5,317 | $4,363,576 | $3,562,743 |
Variance = actual − budget. EBITDA = revenue − OPEX. Net cash flow = cash in − cash out. These are the workbook's transparent Excel versions of the original Power BI measures.
| Check | What it tests | Status |
|---|---|---|
| Actuals row count = Budget row count | Both tables should cover the same 24 months | PASS |
| All Actuals months match Budget months (1:1) | Flags any month-key misalignment between the two source tables | PASS |
| No error values in KPI Calculations | Scans all formula output for broken-reference, divide-by-zero, type, or lookup errors | PASS |
| No error values in Revenue Variance Analysis | Scans the variance table for formula errors | PASS |
| No error values in Cash Flow & Forecast | Scans the cash flow table for formula errors | PASS |
| Revenue Variance $ = Revenue − Budget Revenue (spot check, latest month) | Confirms the variance formula ties out arithmetically | PASS |
| EBITDA = Revenue − OPEX (spot check, latest month) | Confirms EBITDA formula ties out arithmetically | PASS |
| Scenario selector matches a valid scenario | Guards against a blank or mistyped scenario selection | PASS |
| Scenario-adjusted revenue ≥ 0 | Sanity check that scenario multipliers do not produce a negative result | PASS |
| Total Revenue ties to Data - Actuals total | Cross-checks the KPI sheet total against the raw data total row | PASS |
All 10 checks are live formulas that re-evaluate when the data or scenario changes; each reads PASS in the saved workbook.
Twenty-four months of monthly data (January 2024 – December 2025) form the analysis base for revenue, OPEX, capex, cash in and cash out.
A monthly budget for revenue and OPEX is held alongside the actuals and matched to them month for month.
Actual monthly results feed every KPI on one calculation sheet, so each view reads from a single source.
Variance $ is actual less budget and variance % is variance divided by budget, for both revenue and OPEX. A positive OPEX variance means spending above budget.
Rolling 3-month revenue is a trailing sum of the latest three months, replicating the original Power BI measure. It is a directional trend indicator, not a statistical forecast.
A selector picks Base, Optimistic (+10% revenue, −5% OPEX) or Downside (−10% revenue, +8% OPEX); the multipliers are applied to full-period revenue and OPEX totals.
EBITDA is revenue less OPEX, with EBITDA margin shown against total revenue. The workbook flags this as a simplified proxy.
Net cash flow is cash in less cash out, with the total, the monthly average and a count of negative months.
An Executive Overview page brings the KPI cards and trends together, and 10 automated checks confirm the data lines up and the formulas are error-free.
Adapted and extended from an existing FP&A / financial dashboard framework. The financial analysis, forecasting assumptions, scenario analysis, KPI presentation, and portfolio presentation were developed and adapted for this independent finance project.
Built on a public project. The starting point was “Executive-FP-A-Dashboard,” a Power BI dashboard published on GitHub. Its simulated demonstration dataset, KPI definitions and scenario multipliers come from that project. My contribution was converting it into a standalone Excel model: the workbook architecture, the formula-driven KPI logic, formatting, automated model checks, documentation, and this portfolio presentation.
Open the workbook to trace each KPI back to the monthly data and switch between the Base, Optimistic and Downside cases.
Executive_FPA_Dashboard.xlsx · Excel workbook · 53 KB