Health Care Finance; Operating Bugets and Capital Expenditre Budgets – savvyessaywriters.net | Savvy Essay Writers
Health Care Finance; Operating Bugets and Capital Expenditre Budgets – savvyessaywriters.net | Savvy Essay Writers
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5 questionsAssignment Exercise 15–1: BudgetingSelect an organization; either Metropolis Health System from the Chapter 25 Case Study orone of the organizations presented in the Mini-Case Studies in Chapters 26–28.Required1. Using the organization selected, create a budget for the next fiscal year. Set out thedetails of all assumptions you needed in order to build this budget.2. Use the “Checklist for Building a Budget” (Exhibit 15-2) and critique your ownbudget.Assignment Exercise 15–2: BudgetingFind an existing budget from a published source. Detail should be extensive enough topresent a challengeAssignment Exercise 15–3: Transactions outside the Operating BudgetReview Figure 15-2 and the accompanying text.Metropolis Health System has received a wellness grant from the charitable arm of anarea electronics company. The grant will run for twenty-four months, beginning at the firstof the next fiscal year. Two therapists and two registered nurses will each be spending halfof their time working on the wellness grant. All four individuals are full-time employees ofMHS. The electronics company has only recently begun to operate the charitable organi-zation that awarded the grant. While they have gained all the legal approvals necessary, theyhave not yet provided the manuals and instructions for grant transactions that MHS usuallyreceives when grants are awarded. Consequently, guidance about separate accounting isnot yet forthcoming from the grantor.RequiredHow would you handle this issue on the MHS operating budget for next year?Assignment Exercise 15–4: Identified versus Allocated Costs in BudgetingReview Figure 15-3 and the accompanying text.Metropolis Health System is preparing for a significant upgrade in both hardware andsoftware for its information systems. As part of the project, the Chief of Information Oper-ations (CIO) has indicated that the Information Systems (IS) department can change theformat of the MHS operating budgets and related reports before the operating budget isconstructed for the coming fiscal year. The Chief Financial Officer (CFO) has long wantedto modify what costs are identified and what costs are allocated (along with the method ofallocation). This is a golden opportunity to do so. To gain ammunition for the change, theCFO is preparing to conduct a survey. The survey will obtain a variety of suggestions for po-tential changes in allocation methods for the new operating budget report formats. Youhave been selected as one of the employees who will be surveyedAssignment Exercise 16–1: Capital Expenditure ProposalsTed Jones, the Surgery Unit Director, is about to choose his strategy for creating a capitalexpenditure funding proposal for the coming year. Ted’s unit needs more room. TheSurgery Unit is running at over 90% capacity. In addition, a prominent cardiology surgeonon staff at the hospital wants to create a new cardiac surgery program that would requireextensive funding for more space and for new state-of-the-art equipment. The surgeon hasbeen campaigning with the hospital board members.What should Ted decide to ask for? How should he go about crafting a strategy to justify hisrequest, given the hospital’s new scoring system?
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