Problem:
As a member of the finance team, you have been asked to prepare the upcoming year's organizational budget for Verybest Hospital. After reviewing specific data, internal input, and external input from various sources, you find that the executive management team would like the budget to reflect the following:
increase in revenue reimbursement
allocation for new improvement
increase in nurses' salaries
Prepare next year's facilities budget in a PowerPoint presentation format using last year's budget as a basis. The budget should be formatted to reflect the percentage increase or decrease from last years's budget.
The budget should reference one of the following:
- fixed budget
- statistical budget
- revenue budget
- capital budget
- cash budget
- flexible budget
- bottom-up budget
- top-down budget
Objective: Identify the components of a basic operations budget, including how to prioritize effectively.