Given the following scenario, analyze the budget listed below and narratively describe how you would change the budget given the following questions:
1. How will you deal with the request based on the budget printout?
2. What expenses can and should be deferred to the new fiscal year?
3. In what budgeting area were your previous projections most accurate and inaccurate?
4. What factors may have contributed to the inaccuracies?
5. Were the inaccuracies controllable or predictable?
Scenario:
Today is March 1, the middle of the fiscal year (Jul-Jun). You have received the following budget printout. One of the nurse managers is requesting an additional RN for each shift since patient acuity has increased dramatically over the last year. Dr. Teague has requested two new wound vacuums for the post-operative debridement patients admitted to your unit with a cost of $3,000 each. Additionally, you would like to attend the AONE conference in South Florida at a projected cost of $1,500. The registration fee for the conference is $350 and is due now as well.
Table 1. Current budget
Budgeted Item Annual Budget Expected in March Expended Year to Date * Amount Remaining
Personnel 300,000 25,000 175,000 125,000
Overtime 50,000 3,800 50,000 0
Supplies 18,000 1,500 3,500 4,500
Travel (personal 2,200 0 1,700 500
Equipment 5,000 0 5,000 0
Staff Development 1,000 200 800 200
*Fiscal year begins July 1
Length: 3 pages including title and references.
References: Include a minimum of 3 scholarly articles
Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to the topic. Your response should reflect scholarly writing and current APA standards.
