Deliverable 6 – Preparing an Operating financial Budget

Competency

Prepare an operating financial budget that supports improved business and patient outcomes.

Student Success Criteria

View the grading rubric for this deliverable by selecting the “This item is graded with a rubric” link, located in the Details & Information pane.

Scenario

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.
Operating-Budget.xlsx

Instructions

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.

Resources

    You can find Excel resources at this link.
    This link has information about writing a memo.