Imagine you are a clinical manager of UMGC Health Care primary care services and in charge of developing a projected annual operating budget. Your budgetary figures are as follows: For fiscal year 2017 and 2018, 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: UMGC Health Care Annual Expenses:


Imagine you are a clinical manager of UMGC Health Care primary care services and in charge of developing a projected annual operating budget.

Your budgetary figures are as follows:

For fiscal year 2017 and 2018, 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:

UMGC 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 UMGC 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 system

Private and Confidential

Yours all information is private and confidential; it is not shared with any other party. So, no one will know that you have taken help for your Academic paper from us.



This essay is written by:

Prof. Amanda Verified writer

Finished papers: 435

Proficient in:

English, History, Business and Entrepreneurship, Nursing, Psychology, Management

You can get writing help to write an essay on these topics
100% plagiarism-free

Hire This Writer
© 2017 theacademicessays. All Rights Reserved. Design & Developed by theacademicessays.

Ask Your Homework Today!

We have over 1000 academic writers ready and waiting to help you achieve academic success

CLICK HERE TO GET ORIGINAL ANSWERS FROM WRITERS

WhatsApp
Hello! Need help with your assignments?
Loading...