Budget Project Case Study With plans to expand your department by five rooms, the Chief Financial Officer (CFO) has asked that you, as the department director, prepare an “expense budget” also known as an “operational budget”. Your department has been granted $500,000 to provide needed equipment (under $1,000), supplies, labor (salaries and benefits), etc. for the five rooms. Adding these extra rooms will, not only help meet space needs, but it will also help increase organization’s effectiveness. Instructions Develop an expense/operational budget needed for the five room expansion. Decide which type of department that you manage. It is much easier to plan an expansion of an area that you already have knowledge of. For example, if you work in outpatient registration, consider expanding the patient registration area by five rooms. If you have experience as a phlebotomist, consider expanding the number of rooms used to draw patient’s blood. Different patient care areas have different equipment, supplies, labor, etc. needs. Be sure to list the department type (radiology, nursing unit, outpatient surgery, patient registration, outpatient laboratory) in your heading of the assignment. Equipment over $1,000 will be capital expenses so the cost does not have to be included in the operating budget. Keep in mind that $500,000 is the maximum amount allotted for the expansion. Be sure to have some funds left over to handle unexpected costs. Format for Assignment: Budget Spreadsheet: Use an Excel® spreadsheet Be sure the type of department is noted in your spreadsheet title List all expense categories down the left-hand side of the spreadsheet There is no limit to the number of categories that you include Possible categories and items may include Equipment such as computers, chairs, and desks if under $1000. Items over $1000 are not to be included as they are considered capital expenses. Maintenance repair costs Supplies such as linens, medical supplies, office supplies Environmental costs such as cleaning supplies, disinfectants Salaries and benefits for the individuals that will staff your expansion Benefits can be calculated at 30% of salary costs Remember that you can use any categories that you deem necessary for the successful expansion Narrative: Submit a document in Word® that addresses the following: Describe the type of expansion that you are proposing and how it helps the organization. Explain the selection of budget categories. How did you determine the dollar amount? What are some possible obstacles that may be encountered during the expansion? If the proposed budget exceeds the allotted amount of $500,000, how do you intend to make up the budget shortfall? This narrative is a paper, not in a question and answer format. The paper should be double spaced, follow APA citation/reference formats, and be free of grammar/spelling errors. A current professional reference should be included and cited to support your needed expansion
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