- Prepare and submit an operating budget for your hospital unit. Prepare the operating budget. • Have you clearly identified the major sections of the budget? • Does your budget cover a one-year time period? • Does your budget adhere to standard formatting conventions used in health care settings? Explain how the budget was designed and created. • What assumptions, if any, underlie your budget? • What was your process for determining line items and cost center codes? • Did you allocate funding for labor and equipment costs? • Have you determined staffing requirements and calculated workload? • What are your equipment needs and associated, ongoing expenses? • What are your primary sources of budget information? • How up-to-date and reliable is the data? Develop a strategic plan. • Examine the mission of your organization or unit. o Is your budget in line with the mission? • How are executive leaders likely to react to your budget? • Does your budget include nice-to-have items? Present a plan for ongoing budget management. • Consider the various factors affecting your budget, such as organizational objectives, policies, and competition for funding. • Explain how you will: o Limit staff overtime.
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