You are a staff member in the finance department at Nouveau Health, whose sole responsibility is to advance the success of the organization through assisting in planning, forecasting, and finance management.
The budget from Unit 1 (now Unit 4 budget spreadsheet); did not take into account the growth of the new facility. The CEO has asked that you expand that budget and provide a finalized budget that will take into account the new services offered. The CEO has stated that there is $3 million that you can incorporate into the budget for additional staffing, services, maintenance, and so forth.
Complete the following 2 part assignment:
Part I: Complete the Operational budget spreadsheet (see attachment Unit 4 HCM410_Budget)
Disperse $3 million dollars amongst budget rows with no dollar amount in the ‘Revised 2022’ Column. – See the example below
Part II: Prepare next year’s financial plan narrative 2-3 pgs.
Explain why the specified dollar amount was allocated to the corresponding budget line. How that money will be spent and how it will benefit the new facility. – See the example below
Ex. (Part I) Original 2022 Inpatient Budget 27,500,000/ Revised 2022 Inpatient Budget 28,255,000.
Ex. (Part II) The reason/logic for the increase in the inpatient budget is due to orthopedic surgery department improvements.