Deliverable 6 – Preparing an Operating financial Budget
Prepare an operating financial budget that supports improved business and patient outcomes.
Student Success Criteria
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One year ago, Metropolitan Memorial expanded its operations into a rural community located approximately a hundred miles from its main facility. The clinic offers a wide array of outpatient services. As the Senior Accountant, you review the clinic’s operating budget from the previous year. The hospital’s chief administrator has asked you to create a new six-month operations budget for the clinic.
Using an Excel spreadsheet, create a new six-month budget for the clinic that includes the following revenue and expense projections:
The clinic’s revenue is projected to grow by approximately 3% as a result of a new managed care contract. Get assignment help
The cost of expenses is expected to increase to 1.5%. The clinic will also be adding a new roof to the facility at a projected cost of $50,000.Then prepare a memo for the chief administrator. The memo should include a review of the previous year’s budget, an analysis of the upcoming changes (figures above), and a discussion about the impacts these changes will have on the budget for the forthcoming year.
You can find Excel resources at this link.
This link has information about writing a memo.
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