MCA Pay In-Year Monitoring Spreadsheet (PYMS) & PayCast

Which Colleges Would Benefit?

Any college looking to improve the accuracy and efficiency of Pay Costs. Both PYMS and PayCast will help a college to accurately predict their Pay Costs. The tools use data from your own payroll to predict future costs and different scenarios. All elements of pay can be clearly seen including information to inform your employer on-costs such as pensions and National Insurance.

The models have been designed by Peter Darwen, Associate Director of MCA, whose modelling experience includes a major involvement in developing the old LSC’s Financial Forecasting Model, which is the forerunner of the model still used by the ESFA today.

Pay In-Year Monitoring Spreadsheet (PYMS)

The model can be linked to HR software or stand alone:

  • Budget vs forecast outturn of pay costs at employee level
  • Monthly monitoring of pay costs for every employee
  • Copes with changes in National Insurance and pay awards during the year
  • Calculation of back pay due for each employee
  • Reports at strategic level as well as detailed cost centre reports
  • Forecast year end position for use in management accounts
  • Variance analysis
  • Variable hours monitoring
  • Automatic production of some Staff Costs notes for the Financial Statements
  • Reconciliation between employer pay costs and nominal ledger
  • Tailored to meet the requirements of the organisation
  • Excel format – can be linked to other spreadsheets
  • Helpful model map, with links to various parts of the spreadsheet

Pay Budget and Planning Spreadsheet (PayCast)

Follows same data collection format as PYMS:

  • Prepares pay budget and years two and three planning
  • Conducts what if analysis for different pay awards; pensions; national insurance rates; and changes in incremental pay.
  • Produces figures for financial plan
  • Tailored to meet the requirements of the organisation
  • Excel format – can be linked to other spreadsheets
  • Helpful model map, with links to various parts of the spreadsheet

For more information contact us on 07950 931 389

“MCA Cooper Associates were able to quickly grasp and understand the school’s particular features and ways of working, making their own observations and analysing the substantial amounts of data we provided. I would be happy to recommend them to other schools to perform similar work.”

Christopher Neave, Chair of the Board of Governors, Teesside High School

We have years of experience in business management in both the private sector and in FE colleges. Our experience positions us to understand the problems faced by the Further Education Sector but with knowledge of what can be achieved outside the sector.