Please-assist-with-Operating-Budget-Sheet-health-medical-homework-help
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Hello I really don’t understand this stuff, need help with this assignment.
Operating Budget Worksheet
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Consider the following scenario:
Imagine you are a manager of a small health care facility and in charge of developing a projected annual operating budget.
Your budgetary figures are as follows:
For fiscal year 2015 and 2016 your clinic received $3 million from the government as fee-for-services reimbursements, as well as $1.1 million from private payers. The clinic has an annual fund-raiser that historically brings in $180,000 and a grants department that brings in $1.2 million annually.
Your chief financial officer (CFO) has provided you with the following annual expenses:
|
ABC Health Care Annual Expenses |
|
|
Annual salaries |
$1.5 million |
|
Annual benefits |
$ 240,000 |
|
Annual rent |
$ 960,000 |
|
Annual insurance |
$ 45,000 |
|
Annual depreciation |
$ 780,000 |
|
Annual overhead |
$ 180,000 |
|
Annual supplies |
$ 60,000 |
Using the ABC Health Care Operating Budget template, complete a 12-month operating budget in which you include the net profit (loss).
Write a 350- to 700-word executive summary that explains to the board of directors how you developed the budget and its importance.
Include the following in your summary:
- Explain the process for creating an operating budget and its importance.
- Explain how revenues and expenses are grouped for planning and control in the financial statements.
- Explain the differences between cash and accrual financial systems.
Cite at least 2 sources, including your textbook.
Format your assignment according to APA guidelines.
Here is the template that goes with this assignment. This is an excel worksheet but I do not know how to attach it.
| ABC Health Care | |||||||||||||
| January | February | March | April | May | June | July | August | September | October | Novedmber | December | Total | |
| Revenues | |||||||||||||
| Fee-For-Service | |||||||||||||
| Private Pay | |||||||||||||
| Fundraiser | |||||||||||||
| Grants | |||||||||||||
| Total Revenues | |||||||||||||
| Expenses | |||||||||||||
| Salaries | |||||||||||||
| Benefits | |||||||||||||
| Rent | |||||||||||||
| Insurance | |||||||||||||
| Overhead | |||||||||||||
| Supplies | |||||||||||||
| Depreciation | |||||||||||||
| Total Expenses | |||||||||||||
| Net Income (Loss) | |||||||||||||
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