Institution Budget Challenges
Not what you're looking for?
Let us say that you finished your budget but after it is finalized, one or two expenses had to be changed., would it be easy for you to adjust the other expenses to accommodate the change on the other expenses(s) that changed? If so, how would you determine which expenses to change? Or, would you find it easier to increase you revenue to cover the change (increase) in the expenses? If so, how would you increase your revenue and what type of revenue would you be resorting to?
Purchase this Solution
Solution Summary
This solution with over 500 words looks at institutional budgeting as an ongoing process that requires constant re-evaluation to meet organization needs. It looks at inside and outside challenges that can detriment a carefully planned budget.
Solution Preview
Change is an inevitable part of business. In order to meet the needs of a dynamic environment, carefully structured alterations to planned budgets may be needed. These changes will require thorough investigations to avoid future shortfalls. If consideration is given to redirecting funds from one department or area to another, the ethical parameters connected with such a move are considered.
During the planning process goals were set based on identified priorities to best serve the public. The projected amount of expenditures is matched with avenues to generate the necessary revenue. A crucial part of the budgeting process it is to include a margin of error, allowing for sudden increases or unexpected shortfall. Generally, this is held in a tentative position until needed or carried into the next budget year.
However, during difficult ...
Purchase this Solution
Free BrainMass Quizzes
Test your health planning and program evaluation knowledge
Health planning and program evaluation is an important aspect of the Health Sciences' field. Organizations and communities must understand the needs of their audiences, and a way to obtain this datum is through proper design and assessment. This quiz will test your ability to understand the importance of planning and evaluation in the health sector.
Labor and Delivery
Do you know about the stages of delivery? Find out with this quiz!
Vitals about a Patient's Vitals
Basic questions about blood pressure and measurements.
Celiac Disease
This quiz will provide a brief introduction to Celiac Disease. Questions will focus on definitions and symptoms.
Managed Care Organizations
This quiz will test the basics of managed care organizations. It is important to know how our health care delivery system operates through managed care.