Not using Amilia for online registrations? Not a problem! You can leverage the Cost Recovery Tool by importing your external data with our easy to use template.
The Cost Recovery Tool (CRT) is a complex tool capable of producing detailed and specific financial information based on the data you input. Some key metrics include:
- Ideal pricing (given the cost recovery goal and minimum number of participants); and
- Projected revenues (if cost recovery goals are met):
- for each service;
- for each Service Category; and
- for the organization as a whole.
For the tool to have the utmost accuracy, it is crucial to import data that is reflective of your actual revenues and expenses. The import is achieved using the Data Import Template, which allows you to transfer data into the CRT.
If you'd like to see what the CRT looks like prior to using it, feel free to for immediate access to the tool using fake data. It's a great way to get a feel of how it works.
NOTE: Before importing your actual template, please contact firstname.lastname@example.org to have them remove fake data if it was generated.
How it Works
Use the Data Import Template to bring your external data onto the platform. The template is equipped with instructions and examples to aid you in your task!
- Download the template;
- Collect your organization's financial data;
- Fit your organization's financial data into the Data Import Template; and
Once you've successfully imported your template, you'll have access to 4 subtabs within the Cost Recovery Tool: Dashboard, Cost Recovery, Costs and Mass Assign.
The Cost Recovery subtab is separated into two sections which together display the full list of your organization’s Service Categories, activities and services; along with revenue and cost breakdowns based on the data you imported.
Service Categories Section
Service Categories measure the cost recovery of activities they are assigned to. Your imported list of Service Categories will populate here. You can add more manually if you like.
- Name: Click the name of a Service Category to edit or add a name for a new one.
- Target %: Note the Cost Recovery target to achieve in a category. Click to edit anytime.
- Cost Recovery: The percentage of cost recovery achieved in relation to the target.
- Click the X icon to delete an existing Service Category.
Activities and Services Section
Your imported list of activities and services will populate here.
You can toggle the Service Category, Facility and Direct Cost items associated to each activity. Hover over the icon for column details.
- Service Category: These are automatically assigned to each activity as per your import. You can manually change an activity's Service Category if necessary.
- Facility: Manually assign the facility at which an activity is taking place by choosing from the list of facilities you imported.
- Direct Cost: Assign as many direct costs from your import that are applicable to the activity. Assign or remove costs at any time (calculations will update accordingly).
NOTE: Create additional direct costs via the Costs subtab and batch assign/remove direct costs via the Mass Assign subtab.
Filtering Activities and Services
Filters simplify locating activities and services of interest. Click the icon to export the table.
- Search by activity name.
- Search by Start and End Date of activities.
- Specify which columns you want displayed in your table.
- Filter by first choosing a Season and then a Session, followed by Service Type. You may also filter by Service Category only.
- Clear filters to return back to the original table.
The Costs subtab is where you'll manage the list of direct and indirect costs you imported.
There are 3 groups of costs used in the cost recovery analysis:
Direct Costs: These costs are calculated by linking them to each individual activity.
Indirect Costs: A percentage of the total indirect costs are applied on each individual activity based on the total costs that have occurred for each one.
Facility Indirect Costs: A percentage of the facility costs are applied on activities (linked to the facility) based on the total hours that have occurred in the activity.
Direct costs are expenses directly linked to a specific activity or service. Without the direct cost, the activity could not occur. Refer to the template for examples.
Direct Costs must be assigned to each activity via the Cost Recovery subtab.
- Add new direct costs or click the X icon to remove the ones you don't need.
- Description: What is the cost item?
- Amount: What does the item cost in relation to the cost attribution?
- Cost Attribution: How will the cost be calculated per item?
Indirect costs are expenses that are required for an organization to operate regardless of the services or activities they offer. Refer to the template for examples.
Indirect Costs are not assigned to specific activities.
- Add new indirect costs or click the X icon to remove the ones you don't need.
- Description: What is the cost item?
- Amount: What does the item cost in relation to the Frequency?
- Frequency: What is the rate at which the cost occurs?
- Date Range: What time period is this cost in effect? (not mandatory)
Facility Indirect Costs
Facilities are the locations where your activities and services take place. Facility indirect costs are incurred with the use of a facility. Refer to the template for examples.
You can manually add facility costs but may only create facilities using the import.
Facilities must be assigned to each activity via the Cost Recovery subtab.
- Add new facilities and costs or click the X icon to remove the ones you don't need.
- Description: The name of the facility cost.
- Amount: How much is the cost per frequency?
- Location: Link the cost to the applicable facility.
- Frequency: Select at which frequency the cost amount is incurred.
- Date Range: What time period is this cost in effect?
The Mass Assign subtab comes in handy if you need to apply or remove the same direct costs on multiple activities.
- Select: Choose one direct cost at a time to add or remove from selected activities.
- Search: Filter for specific activities and services by name.
- Activities and services that have the direct cost attributed are marked with an .
- Apply your changes to save. The Cost Recovery subtab will automatically update.
The Dashboard converts cost recovery statistics into simple tables and graphs to illustrate the differences between Service Categories and the proportion of revenue each one represents.
Activities Requiring Attention
This table displays up to 15 of your activities and services that have either not met cost recovery goals and/or rank the lowest in revenue (relative to the cost recovery target); and offers suggested targets to attain them.
The Bar Graph
This graph illustrates where the Service Categories are in relation to their cost recovery target percentage.
The horizontal axis shows the Service Categories. The vertical axis can be read in two ways.
Actual: The vertical axis will represent the % of cost recovery achieved. Target: The vertical axis will represent the % target of cost recovery to be met.
Hovering over a bar will show you data pertaining to the Service Category.
The Pie Charts
Amilia uses Pie charts to display in proportions and compare the percentage of revenue accrued by Service Category, Season and Session. Download charts by clicking the icon.
- Via the Bar Graph, click on a Service Category to display the pie chart underneath.
- Hover over each slice to view the name, revenue, total cost and cost recovery % for the applicable Season. The data is also displayed on the table to the right of the chart.
- Clicking on a slice representing a Season will open another pie chart beneath that breaks down each Session within the Season.
- Clicking on a slice representing a Session will open a final pie chart that breaks down each Service Type within the Session.
Do not hesitate to contact us at email@example.com for any questions or concerns!