5.10 Revenue Forecast Variance
The graph above shows the variance percentage in revenue forecasts across different revenue types from fiscal years 2008 to 2012. The lines represent how each revenue type's variance has fluctuated over this period.
Key insights:
1. Intergovernmental Revenues:
There is a notable negative variance from 2008 to 2011, meaning the actual revenues were consistently lower than the forecast. However, a positive variance is seen in 2012, indicating the actual revenues exceeded the forecast.
2. Trend Patterns:
Each revenue type exhibits a different trend in variance, suggesting that forecasting accuracy varies significantly depending on the source of the revenue.
The largest negative variances occurred in the early part of the period, particularly around the 2008-2009 economic downturn, which may suggest the impact of economic instability on forecast accuracy.
The visualized trends help identify areas where forecasting may need improvement or where external factors (like the economic climate) impacted revenue collection.