I need a finance written report. An operating budget. I will attach 2 example budgets and also will attach the full instructions on what is required.
Objective:
Create an Operating budget for a revenue producing department. You must have at least two different revenue streams such as mammograms and biopsies or dental cleanings and dental x-rays, doctor visits and office x-ray, etc.
Written Report
1.
Develop an operating budget for a revenue producing department indicating revenue (in the form of statistics not dollars) and expenses (FTEs as a number and all other expenses in dollars) utilizing methods taught. Budget must include 2 different revenue streams and corresponding expenses for each.
2.
Assignment will involve research on volume predictions and expense costs. These can be obtained from a variety of sources including interview with finance/budget staff person in your institution.
3.
Paper shall include budget, summary, methods used, assumptions made and references.
4.
Length will be no more than 3 pages not including addendum(s). If report exceeds 3 pages, points will be taken away.
5.
Grade will be determined based on:
a) accuracy of budget methods and calculations and
b) thoroughness in predicting revenue/volume and matching expenses to
the revenue
Written Report – Operating Budget
Objective: Create an Operating budget for a revenue producing department. You must have at least two different revenue streams such as mammograms and biopsies or dental cleanings and dental x-rays, doctor visits and office x-ray, etc.
Requirements:
1. Create the statistical (volume) budget. Predict the annual volume for the two revenue streams. This should be a number and not represented in terms of dollars.
2. Predict the number of FTEs. First identify all the job classifications needed to perform and administer the revenue streams. Then predict the number of FTEs required per job classification based on the volume predicted.
3. Predict all other expenses related to the volume streams. Determine what type of expenses are needed to perform or administer the revenue stream. Once you have a list of various expenses, determine the total annual dollar amount needed for that expense based on volume.
Written Document:
Your written document should be no more than 3 pages. Points will be deducted if you exceed this. On the first page, you should present your budget by listing revenue first, followed by FTEs followed by expenses. Next, you should present a description of the revenue stream including what it is and all assumptions needed to verify the predicted volume. (There are posted examples to help you understand these requirements.) Finally, you should describe how you calculated each budget line item based on your assumptions and/or volume prediction. First show how you calculated the budget volumes. Then show how you calculated FTEs and other expenses based on that volume.
Grading:
|
Gradable Item |
Maximum Points |
|||
|
Description of Department/revenue stream |
25 |
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|
List and description of All assumptions |
40 |
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Accurate prediction of Volumes including methodology |
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|
Accurate and thorough prediction of FTEs matching volume |
||||
|
Accurate and thorough prediction of all other expenses, matched to volume |
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|
Accurate calculations |
21 |
|||
|
Total Points |
206 |
EXAMPLE BUDGET REPORT
Example Report
