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Their insights can help to determine the longer term impact on them. Students were included because they can show how these cuts will affect them and offer ideas about ways to possibly offset them. Teachers can discuss how certain decreases will affect the quality of education and their ability to educate students. (Lunnenburg, 2011) (Olden, 2012)
The people who are excluded from the budgetary process were selected because they can create more challenges in making the necessary reductions. Special interests will not be allowed to participate, based upon the fact that they will want to keep certain programs fully intact without considering the long-term effects of the school. Community members, who do not have children at the school, will not participate in the process. This is from their lack of understanding these challenges and bias in preserving certain programs (i.e. sports). Their loyalties are focused on maintaining these programs at…… [Read More]
Budget Airlines: The Destruction of Australia's
Domestic Tourism Industry or Convenient ay to Travel Internationally?
ith such a beautiful and exotic national landscape, one can immediately garner why Australia is a travel destination for many tourists. However, it is easy to overlook the fact that many of these tourists, whose travel is crucial to the Australian economy, are in fact native Australians looking to explore their vast and varied national landscape. One would believe that Australian-based flights would be on the rise within the country, but in truth, Budget airlines such as Air Asia and Tiger Airways are believed by some to be heralding the death of the domestic tourism industry in Australia, as their cheap flights draw would-be domestic travelers into the international travel sphere.
ith carriers offering such cheap packages to Asia, it appears impossible for local destinations to compete. As such, the question has been raised amongst…… [Read More]
Budget plan is a quantitative expression of planned income and expenses for a given financial year. A budget contains an estimated projected expenses and revenue for a financial year. A budget also reveals the estimated costs, expenses, liabilities and assets and the cash flows for a fiscal year. Syracuse is an historic city based in Sicily, and the city budget for 2011-2012 fiscal years is to achieve a balanced between the expenditures and the revenues.
Objective of this report is to present the analysis of Syracuse budget. The Syracuse budget contains the detailed operating financial data that consist of the revenue and expenditure for a financial year. The budget analysis contains the evaluation of the strengths and weakness of the 2011/2012 operating budget document of Syracuse city. Moreover, the report will contain the evaluation of capital budget as well as recommendations for the improvement of the budget process and public…… [Read More]
Budgeting as an Adequate Tool for Planning and Control in Organizations:
A budget apart from being a coordinated and comprehensive financial plan for the resources and operations of a given future period is also intended to promote the managerial functions of control and planning. Over the years a budget has been perceived as a tool for forced planning as it constitutes the most important and basic management functions since other managerial functions such as staffing, organizing, controlling and directing are dependent on effective planning. Planning entails aligning company goals and objectives and finding out means in attaining these. Besides, decision making being at the heart of planning, effective strategies and policies must be able to contribute to the objectives and plans. (Talal, 1986)
A proper budgetary system must be able to underline and extend the planning role of all levels of management. Managers will be under obligation to look into…… [Read More]
Managing budgets and keeping within those boundaries is a difficult task and requires a steadfast approach with practical strategy. Budget forecasts often are used as important guidelines that are used to keep organizations in line with their corporate strategy. Although this seems rather simple, it is not. The purpose of this essay is to discuss and highlight specific strategies that can be applied to assist in managing a budget within a given set of forecasts. This essay will also compare some expense results that have fallen out of the variance range and discuss the possible reasons for this occurrence. This essay will conclude by discussing benchmarking techniques that will eventually contribute to improving budgeting techniques including forecasting.
Budgeting and Forecasting
Nayab (2011) suggested that "both budgets and forecasts provide estimates, and construct models of how a business might perform financially if the expected events and plans play out…… [Read More]
Kudler Fine Foods Budget
The budgeting here will be from the absorption approach which is a budgeting process that considers all business overheads to be the product cost which eventually become an expense in the form of manufacturing cost of the goods and are sold as sales take place.
Budget for Kudler Fine Foods
evenues (Net sales)
Cost of goods sold (less ending inventory)
Net operating income
Integrative Marketing Agency (2010).
The growth rate of Kudler Fine Foods for the three years projected in the budget is 1.109% with varying profit margin of 27.49% for 2012, 24.78% for 2013 and projected 26.3% for 2014. The expenses are seen to grow with the revenues as well. This is a trend that has been consistent with the company over the last few years and into the…… [Read More]
How the Old Westbury College athletics budget is tied to its mission and vision: The conceptual framework
Maverick's mission and vision
The mission of the team is to produce athletes who are unparelled in their areas of sportmanship.
To bring up athletes who are men and women of integrity and are performers in almost all important faculties of life and the society.
The budgetary allocation
The budgetary allocation will take into account the relative importance that the athletic activities are given by the American society and the concerned intercollegiate organization such as Athletics in the Mid-American Conference. In this regard football would receive the highest amount of budgetary allocation. The allocation would be as follows:
Maverick's Budget Worksheet
Team Name: Mavericks
# of Members: 1,700
Affiliation / and insurance Expenses
Total Affil./Insur.…… [Read More]
The Alice Hyde Medical Center is a medical organization located in Malone, NY (Home Page). It contains various services to the public, such as laboratory, imaging, surgery, rehabilitation, pediatrics, etc., as well as, the Family Maternity Center, Hastings Hemodialysis Unit, In Touch with Health (a community wellness program), the Dental Center, a Nursing Home, the Reddy Cancer Treatment Center, and the Sleep Disorders Laboratory. A big portion of the financing for the services, such as laboratory, imaging, surgery, etc., is drawn from patients from other units. For example, patients from the Reddy Cancer Treatment Center are sent to the laboratory for tests to monitor medications and conditions. Each service department and facility is treated as a separate unit with its own revenues and expenses.
The organizational concept, or technical structure, shows the relationship that should exists between functions, levels and activities of human and material elements of an…… [Read More]
The purpose of this research is to explore the relationship between budgeting and planning functions. There are substantial diferences between strategic plans and long-term budgets -- both in how they are created and in the end products. Very few organizations really need a multiyear budget. In fact, for many organizations, including community banks, they can sometimes do more harm than good. The function of the budget is to maintain, protect, and allocate the organization's resources. The strategic plan prepares the bank to make future decisions, enabling it to take advantage of opportunities as they arise and to avoid or lessen the effects of adverse developments.
Budgeting management is essential in determining projects which are actually essential for the company, in other words, projects which bring added value to the company. The logic behind this is quite simple: after determining how much you are actually willing to spend…… [Read More]
The relevance of budgets when it comes to the management of organizational operations cannot be overstated. In this text, I discuss the various types of budgets. In so doing, I will make use of a hypothetical company by the name ABC Industries -- a Texas-based manufacturing entity. ABC produces blankets.
Types of Budgets
Budgets can be classified in numerous ways. The classification approach I adopt in this case is largely founded on the nature of an organization and its unique needs. To begin with, budgets can be classified on the basis of production flexibility. Under this classification, budgets could either be fixed or flexible. A fixed budget in the words of DuBrin (2011) "allocates expenditures based on a one-time allocation of resources." On the other hand, a flexible budget according to the author "allows for variation in the use of resources on the basis of activity" (DuBrin, 2011).
Budgets…… [Read More]
Agency budget paper
The budgeting process is often dependent on the agreed upon and documented guidelines of the individual agencies in the US. The common things the underlie all the budgeting process is that they are meant to facilitate operations of the agencies and also to better the service delivery to the citizens or dwellers within the jurisdiction of the agency.
The New York City Council
The NYC council budget covers the cost of ruining g the city, for instance the pay for the sanitation workers, power and lights at the common amenities like the libraries as well as providing social services. The budgeting process starts with the city’s 59 community boards conduct public hearing and after this hands in their capital priorities to the mayor. The mayor then presents the preliminary budget proposal, after which the city council holds hearings on the mayor’s preliminary budget proposal, giving recommendations for…… [Read More]
In budget planning, public administrators need to outline expenditures related to operational and capital budgets. In public administration, operational budgets are defined as day-to-day expenditures of a government while capital budgets refer to long-term investments for an organization. When creating budgets, public administrators are faced with the need to determine priorities for capital and operational budgets because of limited funding. The determination of priorities for operational budgets and capital budgets are affected by some factors, which are applied in the budget cycle. Similarly, capital budgeting process is affected by some factors that are applied in each budget cycle.
The most important factors that can affect the development of priorities for operational budgets relate to the three objectives of public expenditure management. In this regard, fiscal discipline, operational efficiency, and strategic resource allocation are important factors that influence the decision making processes of public administrators on priorities for operational budgets.…… [Read More]
Implications of Capital Projects for State Budgets
Like many other states, Oklahoma is faced with some serious problems with respect to a deteriorating critical infrastructure, including most especially the need for repairs and improvements on its roads and bridges. In response, the Oklahoma Long Range Capital Planning Commission has recommended a series of long-term capital projects through fiscal year 2024 that are intended to address the most serious of these infrastructural problems. The purpose of this paper is to provide a description and brief overview of the Oklahoma Long Range Capital Planning Commission, the size of the state for which it is responsible and its overall responsibilities. In addition, a description of the types of government projects and the implementation process that are involved is followed by a discussion concerning the respective advantages and disadvantages of the projects on the state’s operating budget. Finally, a summary of the key findings…… [Read More]
• What are the responsibilities of someone in your position (e.g., VP, CNO, Director, or Manager) in the development of the annual budget?
Having business acumen is fundamental to becoming a Chief Nursing Officer (CNO). In some healthcare institutions CNOs are charged with overseeing large aspects of the annual budget of that facility. It is the responsibility of the nurse manager to design the organization’s budget and set goals for the center they represent or at least their nursing unit (Rundio & Sigma Theta Tau International, 2016). This is usually done in close collaboration with finance department. After the development of the budget and after it has been updated, it is then forwarded to the administrative unit and thereafter to the directors for approval. The fiscal year begins following the approval of the budget process (Rundio & Sigma Theta Tau International, 2016). The hospital must deliver the planned…… [Read More]
Implementation of Project
The implementation of any project comes with risk, in particular where the project requires changes on some level. Some will oppose change because they do not understand the benefits, or because they perceive (rightly or wrongly) that the change will have a negative impact on them. Some implementation issues are related to the allocation of scarce resources – departments and projects compete for funding and labor, and this can create issues for implementing a project on time and on budget.
There are several key stakeholders who might be able to help overcome such challenges. An example would be the person in charge of determining budget for the department or company. Getting buy-in from this person – who is not necessarily in the finance department but would be the person who has the ability to set budget allocations – is critical because budget resources are often an impediment…… [Read More]
Looking over a spreadsheet can clarify when to make larger purchases, such as waiting until the start of a new billing cycle, or negotiating better payment terms offered by suppliers and any creditors, especially when interest rates are volatile.
Once the need for a budget is established then the organization can consider what type of budget it desires. For example, with zero-based budgeting, "all expenses must be justified for each new period. Every function within an organization is analyzed for its needs and costs. Budgets are then built around what is needed for the upcoming period, regardless of whether the budget is higher or lower than the previous one" (Zero-based budgeting, 2009, Investopedia). hile it is true that zero-based budgeting is more costly than traditional cost-based budgeting, it also favors enterprises specializing in areas "that achieve direct revenues or production" in the enterprise (Zero-based budgeting, 2009, Investopedia). For larger organizations,…… [Read More]
Operating expenses include selling and administrative expense. Ordinarily, a forecast or budget for selling expenses is prepared together with the sales budget or profit target because selling efforts such as promotions, commissions and salaries of the sales staff are directly related to sales. Selling expenses may either be variable or fixed. Administrative expenses include projected administrative costs for other than production or selling activities. These expenses are mostly composed of fixed costs such as research and development, insurance payments and government taxes.
3. Calculate expected profits
Profit is the excess of revenue over total costs and expenses incurred in generating such revenue during the period of operation. Profit can be expressed in the mathematical equation:
Profit = Sales - Total Costs and Expenses]
Costs having been considered, the budgeted profit plan may now be established. Injecting the concept of 'revenue less expenses equals profit,' the profit may be calculated as…… [Read More]
Budgeting is not only useful for a business organization but it is also useful for personal planning and spending. The existence of a well structured budget within an organization or a personal budget tells how well a person or the business is organized. From a business perspective regardless of the type and size a budget is an important recipe for success and smooth running of the business.
According to Burrows and Syme (2000) depending on the size, a business can have various types of budget that include; the sales budget, the production budget, the general administrative budget, cash budget and the master budget. It is important to note that the master budget encompasses all the other different types of budget into one and through the master budget a business can plan its expenses in advance and also can use it to obtain additional finances. This present study will further discuss…… [Read More]
However, when you look at the overall graduation rates of the district in comparison with the state average, one could effectively argue that these programs were failures by not keeping the district in line with the state number.
There are number of different programs that are restricted from being adjusted these would include funds that would fall under the categories of: other special education funds, internally restricted funds and externally restricted funds. Some examples of the different educational programs that are subject to such restrictions would include: the Parent Teacher Coordinator, special education support staff and the Safe School Initiative just to name a few. The reason why some programs are under such restrictions is the funds could be ear marked for a particular program or may be necessary to be in compliance with the law (such as a cutting of funds to special education could result in the district…… [Read More]
This budget is a static budget. The variable components are based on the number of students, and in this budget the amount of students is assumed to be fixed throughout the year. The budget does include three different student levels, but this reflects sensitivity analysis, not a flexible budget that changes over the course of the year. To make the budget flexible, the school would need to make changes to the different elements of the budget as the school year progresses. That is entirely possible the way this budget is structured, but the possibility of converting it to a flexible budget does not make it a flexible budget.
The total revenue per student excluding grants is taken by adding up the non-grant revenues per student: $6,063.06
The total expenses per student depends on how many students. At the 120 student assumption, total expense per student are $4,518; at the…… [Read More]
125% to 6.0% would increase the estimated revenues by approximately $300 million, bringing this revenue to its highest level in history. This rate would still be lower than the state sales tax rate in neighboring Southwest states such as Arizona (6.6%), Texas (6.25%), Nevada (6.85%) and California (7.25%) (Sales Tax Clearinghouse, 2010). ith this increase, personal income tax rates would not need to be increased. Corporate income tax rates would also remain the same, as they are not a significant component of general revenues. hile the move to increase the state sales tax would prove unpopular, it would allow New Mexico to build for a more stable budget future, less reliant on federal transfers, while remaining competitive in terms of corporate and personal income taxes.
Appropriations will also need to be cut in order to save money. The main problem with appropriations in the budget is that a looming and…… [Read More]
Due to Ford's international presence, this database needed to be accessible remotely, and so the database was created to have remote access from any browser in Ford's locations in 120 countries. Utilizing this technology is a fundamental piece of Ford's mission, therefore it was important to make sure that technology used would be accessible and easily manageable by its employees. Since the technology used is simple enough to be used on a regular browser, there is little in depth technology training needed by the majority of employees who would be using and accessing the system. This helps reduce training costs as well as ensures practical usage within the company. Since Ford's financial position has taken a tumble from its successful days of the past, this technology proves essential in reducing unnecessary costs and helps keep the company running as smoothly as possible without reckless spending. Eliminating unnecessary high maintenance costs…… [Read More]
How current budget crisis impact public Health & Community services individual states? 1) Colorado 2) South Carolina 3) New Hampshire 4) California 5) Arizona 6) Oklahoma 7) Virginia
How does the current budget crisis impact the public health & community services in the following individual states?
Even before the current crisis, Colorado ranked "near the bottom when compared to other states for covering families and children for health care" (Anderson 2011). Now, because of recent budget cuts, healthcare services are likely to suffer further. For some healthcare centers, cuts will comprise up to 20% of their annual operating budgets. The need for services has increased, given that job losses mean that more people are reliant upon state assistance. "Demand is up as much as 40% by Medicaid patients and 23% by the uninsured" (Anderson 2011). Public clinics are closing or laying off staff and reducing hours because…… [Read More]
Beyond budgeting, two words that some believe hold the future to a company's financial strength and profitability. No longer is it necessary to implement a plan, make and sell business model. Instead, in today's current business environment it is much simpler to organizations to go beyond the traditional budgeting organization to one that goes beyond that budgeting process by providing the opportunity to respond much faster to the demands of a fickle consumer.
One report determines that the old business model involves protracted time and energy in a budgeting process that assumes "that customers will buy what the company decides to make" (Hope, Fraser, 2000, p. 31) but the report goes on to make the assertion that companies run a huge risk when they make assumptions that "are no longer valid in an age when customers can switch loyalties at the click of a mouse" (p. 31). What Hope…… [Read More]
Sometimes state politics plays a major role and it shapes the outcomes of the legislative action in completely different ways. For example, the Texas Enterprise Fund was created in 2003. The main reason for its implementation of the fund was to attract new companies to Texas. However, the main point of debate here was that this fund was approved, when drastic budget cuts for state programs were being implemented (due to the economic recession). Where, this fund was contending for revenues that could have been allocated to: healthcare and insurance programs for the low-income families. In this case, state politics was a major factor in the creation of this fund. ("Texas Politics - Political Economy," 2010)
Another element that is sometimes associated with legislative action is "Pork" spending amendments. Simply put, this kind of spending is when various politicians will allocate funds, out of the budget for special projects in…… [Read More]
Criminal justice agencies rarely use a program budget, although this format does offer some advantages. This budget places a strong emphasis on different programs' social utility and strives to define the relationship between policy objectives, programs, and specific expenditures (such as citing the amount of money allocated to DUI prevention and arrests for the offense). It justifies and explains budget areas to provide accountability for objectives, and enables employees and politicians alike to understand department objectives. However, it can be expensive to implement.
PPBS (planning- programming- budgeting systems) and zero-based budgeting formats were used by several states during the 1970s as well as private industries, although these formats are rarely used by cities and have since fallen out of favor. There are three basic budget processes -- planning, management, and control. PPBS and zero-based budgeting strives to define all of these elements, every year, as part of the budgetary development…… [Read More]
Question 3: hat is the budget cycle?
The budget cycle is defined by a series of stages, stages that make up the budgetary process. First, there is the preparatory stage. The needs of the upcoming year are forecasted, and the organization's goals are defined. It determined how best to allocate scarce financial resources and priorities are set. Secondly, there is a period of consideration before the approval of the budget. Necessary revisions are made, based upon critiques and input from organizational leaders and special interests. The third stage involves the distribution of funds and execution of the budget. This is followed by the critical fourth stage of auditing and evaluation. Auditing and evaluating what has transpired ensures that departments can learn from their mistakes, and rectify what problems have arisen for the following fiscal year.
Budgets. UNM. Retrieved June 20, 2009 at http://www.unm.edu/~gleasong/a/notes/budget.pdf
Line item budget. (2009). BusinessDictionary.com.…… [Read More]
Engineering organizations, like most other types of organizations, develop cost budgets that include all the resources they can track such as money, people hours, calendar time and space; both as initial investments and recurrent operational costs or future commitments (Gilb, 1997). However, according to Gilb, engineering organizations face unique challenges because it is often impossible to estimate a step cost budget until the following is known about a particular step:
The design ideas to be used, and their costs
The functionality to be changed, and their costs
The process for acquiring the step content, and its cost
The process for integrating and testing the step content, and its cost
The process for deploying the step content to the recipient, and its cost
Some organizations ignore costs while others attempt to deal with these unknowns in the budget process by turning to techniques such as design to cost (DTC) and…… [Read More]
Decreasing purchases of the items that regularly expire, assuming that such a decrease does not dramatically increase the per-unit cost of each of these items, would definitely present a cost savings to the organization. The other major costs that the organization has some (though not total) control over are the lost balls and the cost of trainers; it is likely that a move to hiring permanent trainers would be more cost-effective than hiring them on an as-needed basis, but more regular participation levels will need to be established for this to be effective. Likewise, it is possible for the organization to reduce lost equipment costs by erecting a temporary barrier to contain wildly hit balls, but the cost of the barrier would need to be fairly low and its durability fairly high to justify this.
6)a. Sales price variance = (25x40000) -- (25x39200) = 20000
Sales volume variance = (20x40000)…… [Read More]
Doing this activity provided me with information I was unaware of before doing the assignment. It seems amazing to me that more than half of the federal money is going to the military. Yet only 4% of the federal budget goes to education. his is a very sad state of affairs. Since September 11, 2001, the government of the United States has spent $635.9 billion on just homeland security. his doesn't even include the amount of money that has been spent in the war on terror. he website states that since 9/11, the government has spent $7.6 trillion on the military. his is a huge amount of money.
he budge projection for 2012 is that the United States government will spend another $3.7 trillion. hat means that the government will spend the same amount in one year that they have spend in the five years before. his is an…… [Read More]
We do not anticipate success is securing a non-voted debt issue. Given the time frame for the completion of the Commons project, the city will weigh our request vs. The upcoming needs for school repairs and roadwork. Education is a touchstone issue for voters, and roadwork affects all voters in the city. hould council decide to issue any of their remaining non-voted debt capacity, it is unlikely they would choose to use it for the Commons project ahead of those two other priorities.
Voted debt, however, they can issue. If the public votes 60% in favor, council will not face the same concerns about opportunity cost. We will not be competing for money with schools. A voter-approved special levy would function in much the same way (financed through property tax increases) but requires only a 50% vote in favor. Although the capacity for such special levies is only $90 million,…… [Read More]
New Budgetary Need for the HSO -- Additional Hotline 'Crisis' Staff is Warranted, Especially During Exam Time
One new budgetary need that might and in fact must be addressed in an overall HSO (Health and Safety Office) budget request is additional volunteer, but more particularly additional paid student work study counseling staff during exam time for the University 'crisis' hotline.
Description Statement providing an overview of the request
The request is as thus: currently, the HSO runs an evening crisis hotline, staffed by several volunteer students, to counsel students at times of emotional and psychological crisis. If the individual on the hotline seems to be suicidal, or expresses a wish to harm him or herself, there is also a school psychologist on staff who can be contacted via an emergency number by these crisis staff student volunteer counselors, as such an individual can better provide assistance and can…… [Read More]
Budget: educing isky Behavior Among African-American Female Adolescents
The membership of the American Association of Nurse Practitioners (AANP) is almost 200,000 in number (AANP, 2014a), but sending a survey to all members would be prohibitively expensive. The membership ranks are divided into regions within the United States and regions 2, 3, 5, and 11 represent the more urbanized ones (AANP, 2014b). The addresses of members will be cross-referenced with the major urban areas in these regions (SBA, n.d.; SSDAN, n.d.) and a random sample of 1,000 will be selected from this group and sent an information packet, with the hope of recruiting at least 115 mother-daughter dyads through these providers. The cost of 1,000 first class stamps will be $490 dollars, but another 1,000 postcard stamps will be needed for the response cards included in the recruitment package. The total postage costs for the initial phase of the study will…… [Read More]
This contribution to fixed costs is the same for every customer. Thus, the breakeven point is 250,000 / 500 = 500 customers.
In another example, if the price is 200 and the variable costs are 110, and the fixed costs are 100,000, then the breakeven point is 1112 customers. The breakeven point is always rounded up because to have less than that the company would not yet have broken even. By rounding up, the company has officially passed the breakeven point.
4. The relative value scales are 150, 300, 568.75, 264 and 160 for a total of 1442.75
The relative value scales indicate how much effort goes into each type of acuity. The cost per RVU is relative to the total nursing costs, so it is a weighted-average:
$36,389 for Acuity Level 1
$72,777 for Acuity Level 2
$137,974 for Acuity Level 3
$64,044 for Acuity Level 4
$38,814 for…… [Read More]
The departmental and program breakdown of the information in the city of Detroit's budget does not provide quite the same level of detail or of annual change that the city of Austin's budget does, but this more than made up for by the ease of accessing what details are available, and by the different formats of the two cities' budgets almost necessitate these differences in clarity, but they do not entirely account for the lack of clarity in the city of Austin's budget. That budget is already organized by department and broken down into the individual programs; tabulating the department totals and providing a clear overview of the major expenditure and revenue items on the budget would not have entailed any undue extra effort. The city of Detroit's budget clearly shows that both detail and overall clarity are entirely achievable in a municipal budget, making it both more effective and…… [Read More]
S. Government to make future or immediate monetary outlays. In the second subcomponent, the reporting and outlay phase lasts for the duration until the funds are canceled or until the funds are totally disbursed. One should note that these cancellations are in no way connected with cancellations that are connected with budget reductions. These are a separate congressional activity (ibid).
Sometimes spending adjustments are needed during the fiscal year. They may require special reporting and approval procedures by both Congress and OMB. In some instances, an agency can request supplemental funding by submitting a request to the Congress. Mostly, the departments and agencies are required to manage their funds according to their available resources and have only a limited monitoring by the OMB and the Congress during this particular phase of the budget process (Government Printing Office, 29-30).
hat is the effect of this system in theory as well as…… [Read More]
Health care is a large part of the federal budget and it is increasing in importance. The rate of growth in health care outlays is greater than the rate of growth in the budget itself. The poses a problem, because the federal budget deficit is increasing in size. Debt service is going to be the most rapidly growing component of the federal budget over the next several years, highlighting the need to control costs in all aspects of the budget. The challenge, however, is that both demographic trends and health care cost inflation trends signal a dramatic increase in health care costs in the coming couple of decades. Health care reform is expected to help with cost containment, primarily through shifting some eligibility requirements, but greater solutions are required. Privatizing health care would take if off the government's books, but would have significant negative externalities with respect…… [Read More]
.. discretion as a practical matter" (1988, p. 78).
Wildavsky's was not critical of classical budgeting theory. He was more in favor of the concept of incrementalism that was a vital part of classical budgeting. He felt that incrementalism was superior to other budgeting approaches because it "increases agreement among the participants" (1984, p. 136) and also because it could reduce "burden of calculation" (1984, p. 136). Wildavsky went on to say that: "Clinging to last year's agreements is enormously economical of critical resources . . . which would be seriously depleted if all or most past agreements were reexamined yearly." (1984, p. 217).
The classical budgeting model proved efficient and practical for many decades but it lost its appeal in mid-20th century when a general trend towards excessive spending took over. This trend was observed all over the world and the main reason for the scope of government's responsibilities…… [Read More]
" (Huang & Chen, 1) This characterization of using the budgetary process to play 'games' carries with it a negative connotation, which is driven by the inherently threatening implications of tying personal income to performance evaluation.
That said, budgetary clarity is among the most important features to creating and implementing an effective plan of operation in any context. This is to argue that there is never an excuse for a failure to properly budget. This is a primary purpose of accounting, which allows an organization to identify those resources and conditions at its disposal and to determine how these can be used to yield functional operation, sustainability and profitability. Though the numbers which are yielded from a projected budget cannot be used as restraints with respect to operational creativity or mutability, these should at least help to establish a plan of action; anticipate certain milestones in the execution of the…… [Read More]
udgeting and Cost Control in Healthcare
One of the most critical issues facing healthcare facilities and organizations is the rapidly increasing cost of providing services. Cost control and budgetary issues are the first consideration for many healthcare facilities. According to statistics, the "single most important thing on the minds of healthcare decision makers is cost management and containment." (Lawson, 2004). In fact, more than 95% of respondents to a survey concluded that cost containment and budgetary issues were among the most pressing issues in the healthcare industry. Yet budgetary issues within the world of healthcare are among the most difficult to address, as most healthcare facilities vary greatly in the level of services they provide to consumers, and the amount of resources readily available to serve those consumers.
Healthcare facilities face increasingly and rapidly rising costs in the face of a poor economy and rising costs associated with providing healthcare…… [Read More]
Budgeting and Cost Control Health Care
Budgeting and Cost Control in Health Care:
hat is Present Value Analysis and how is it useful in determining the most cost effective choice among purchase-lease alternatives?
Strictly from the point-of-view of a businessperson, the net present value method, or NPV, of evaluating a potentially major project allows the businessman or woman to consider the time value of money. The time value of money is the value of money of a particular endeavor, in today's dollars. Thus, the calculation of NPV or net present value, gives the present value of the future cash flow, allowing a comparison of the amount of a project's yield or profit, with the amount of money needed to implement the potential project. "If the NPV is greater than the cost, the project will be profitable...NPV analysis is generally used to evaluate the project's cash flows, rather than the income…… [Read More]
Budgeting and Cost Control Health Care
Budgeting and Cost Control in Health Care: Significance of Diagnosis-Related Groups and Defenders and Critics of the Current DRG system
Diagnosis-related groups, otherwise known as DRGs, are considered to be one of the building blocks of the modern healthcare and hospital system, for better or, some would say, for worse. DRGs are present in America as well as Australia, and the United Kingdom and are thus compatible with various systems of public and private funding of hospital services. Such hospitals provide individual healthcare consumers with the ability to receive hospital reimbursement under the Medicare Prospective Payment System (PPS), so long as their treatment is commensurate with the reimbursement guidelines outlined by that system.
Currently, DRGs are seen as a potential but problematic solution to rising health care costs. They offer the ability to combine quality and specific diagnostic services that target individual suffers with…… [Read More]
S. This has partially continued during the 90s as well, so protectionist barriers is one of the things Nissan needs to consider when exporting to its main partners.
There are two different actions Nissan may consider in the future in this sense. The first one refers to the fact that Renault, an European company, still holds a significant part of Nissan shares, which may facilitate exports on the European market. On the other hand, trade barriers can generally be avoided by direct implementation in the respective country, a measure which Japanese companies, especially Toyota, have successfully applied in the U.S. during the 80s.
2. Internal competencies
A. General Motor seems to be currently both the most important producer and the sales leader. However, this should come with several amendments. If we are referring to the market leader, there are several criteria worth mentioning. First of all, the number of cars…… [Read More]
So 24 hours per day of care. With 24 hours and 8-hour shifts, 24/8 = 3 nurses are needed for each day.
If the agency works 365 days per year, and a shift is 7.5 hours, it will provide 16.43 hours of care per day, which will require 16.43 / 7.5 = 2.19 nurses per day.
4. The total workload in care hours is the weighted average of the different types of patients, so (.25)(.5) + (.25)(.8)+(.25)(1.2)+(.25)(2) = .125 + .2 + .3 + .5 = 1.125 * 5000-5625 care hours. This equates to 1.125 care hours per clinic visit.
If there were 6000 visits, divided equally among patients that require care of 0.4 hours, 0.9 hours, 1.0 hours and 2.2 hours. Under that scenario, the total workload care hours would be (.25)(.4) + (.25)(.9) + (.25)(1) + (.25)(2.2) = 1.125*6000 visits = 6750 total workload care hours, or 1.125…… [Read More]
Budget Analysis for the City of Lakeland: Executive Summary
In order to understand how a new performance-based budgeting process could be utilized by the City of Lakeland, it is essentially to conduct a review of the City's Annual Budget, with a detailed description of how the budgeting process works from beginning to end.
Lakeland's budgeting process is divided up into parts, with each part being designated a specific amount of time (in terms of a calendar month) in which it is to receive attention. The tasks associated with the budgetary process are thus sequential and proceed in an orderly manner; once the first steps are taken and accomplished, the next steps may be conducted.
Steps According to Monthly Division
The first steps begin in the month of February. The evenues Manual supplied by the City is utilized to understand and predict the City's revenue and revenue sources, using a systematized…… [Read More]
How many work weeks are in the project timeline, where work will actually occur?
The project timeline runs from 1 January 2017 to 31 March 2018. This implies that there are 65 weeks in total within this period. However, taking into consideration that there are three weeks for vacation, the number of weeks in the project timeline where work will actually occur is 62 weeks.
How much money does the team cost per hour?
There are 10 managers. The manager salary for an hour is $100. Therefore, the cost for managers per hour is $100 x 10 = $1,000.
There are 100 programmers and staff. Their rate per hour is $35 per hour. Therefore, the cost for programmers and staff is $35 x 100 = $3,500.
This implies that the team costs $4,500 per hour.
How much money does the team cost per week?
Every week contains forty working hours.…… [Read More]
budgeting management was most helpful to me, I believe, in the sense that it actually helped clarify the various processes about which I wrote, providing me greater conceptual awareness of budget management planning, processes, and content. Of the essays I completed, I must admit that I like various parts of all of them, but feel that my third essay was the best. By then I was more confident about what I was writing. Overall, what I learned from writing all three essays, an insight that will, I believe, remain with me long after this course, is that one learns a great deal more about a subject from writing about it.
My third essay was the best-focused of the three, and most detailed and specific. It was the end result of much thinking I had done. My best sentence, within that essay was (I feel): "The top management, working with the…… [Read More]
budget process for Las Vegas Metropolitan Police Department (LVMPD). LVMPD was formed in 1973 as a result of the merger of the Las Vegas Police Department with the Clark County Sheriff's Department. LVMPD serves the city limits of Las Vegas along with unincorporated areas of Clark County.
LVMPD is funded by the City of Las Vegas and Clark County. Police department funding is based on a complex formula determined by population, calls for service, and the number of felony crimes from the previous year. Both city and county governments must approve not just the annual operating budget, but also their respective percentage of the budget. In addition to funding supplied by the two governments, the department itself generates approximately one-third of its funds though property tax and the charging for certain services, such as special events. A special sales tax to fund commissioned positions generates additional funding.
The Law Enforcement…… [Read More]
budgeting an adequate tool for planning and control in organizations and when should alternative approaches be considered? Is budgeting obsolete in the 21st century?
Starting with the last question first, although budgeting does seem to have its problems with it, and although it fails to produce results, nonetheless studies find that the majority of managers still turn to budgeting as means of conducting their business unable to surrender the system.
Criticisms against budgeting includes the following: (a) that they are too time-consuming; (b) that they are slow to detect problems; (c) that they are not reliable for performance management; (d) they are rapidly outdated; (e) the process lacks rigor; and (f) it disrupts cooperation.
Assessing, however, whether these factors persuade 21st managers to adopt replacement schemes, Libby and Lindsay (2007) discovered that more than 50% of the 212 Institute of management Accountants (IMA) members whom they surveyed in 2006 affirmed…… [Read More]
Sony Flexible Budget Analysis
Sony is a company that has long dominated the electronics market. However, in recent years, it has seemed to loose its primary grip over the market. Still, examining the financials of 2013, one can see that there have been new advancements in growth, especially in regards to net income, operating income, and financial and mobile sales revenues.
After several years of disappointing sales, Sony has seen some recent growth streams. Sales and operating revenue is up from the past two years by 4.7% (Sony, 2013). Additionally, net income is also up since 2012. There have also been increases in the sales of financial services and mobile devices over the past year (Sony, 2013). This has helped increase the overall operating revenue and net income overall, which was desperately needed by Sony after several years of the company loosing its grip on the marketplace. Numbers…… [Read More]
A normal costing approach uses an annual average overhead rate consistently throughout the year, without accounting for day-to-day and month to month fluctuations. This average overhead rate is applied to the cost of a manufactured product, along with actual direct material and actual direct labor. Because the amount of overhead is computed as an average over the year, a department's applied overhead will rarely, if ever, be equal the actual incurred overhead. A department's applied overhead will rarely equal the actual overhead incurred. Why the reason for the variance? The most common reason is that the department is operating at a different level of volume than the level used in calculating the budgeted overhead rate. This can be the result of an over- or under-estimation of the hours which will be needed to produce goods or unexpected events like plant shutdowns. Still, even with the variances, companies prefer to use…… [Read More]
budgets of any major size will get most, but not necessarily all, of their money from taxpayers of several many sorts but the main goal of the agencies regardless of size and structure is to provide basic and needed services to the area they serve, whatever and wherever that may be.
While all budgets are quite similar in one form or another, they are all different in their own ways and this can include the aim(s) of the money to be spent, where the money will come from and the overall fiscal policy exercised within the budget including investment, tax rates and savings strategies.
Basic Description of each budget
Differences and similarities of each budget
Sources of evenues of each budget
Change of revenue accounts in the future
e. Budget's fit with mission of the domain
f. How to improve budget and/or revenue estimation for each budget
Budget Comparison…… [Read More]
In this regard, Garner adds that, "A safety-smart leader realizes that while a $10 flashlight purchased in bulk at the local discount store may put out enough light to read a driver's license, a 20,000 candlepower light that sets the department back $90, may make all the difference in the world when the officer holding it faces an armed offender one dark night. Little things like that are not lost on the troops" (p. 92). In fact, as to budget priorities, Garner (1998) suggests that officer training and safety considerations should be at the very top of the police manager's list: "A competent police manager encourages and demands an organizational environment where safety is valued, taught and practiced. He mandates that supervisors and managers role model, inspect, reward and correct for safety. He assures that the very best safety training and equipment is made available to his personnel" (p. 92).…… [Read More]
Zero-based budgeting is used for entirely new projects and programs, including a recent investment in a new development platform and series of applications based on the Software-as-a-Service (SaaS) model. These investments are zero-based and provide for the development of technologies that are often patentable, which create significant barriers to entry in new markets the company is entering. Often the zero-based budgeting is substantiated with the potential of creating patentable products over the long-term.
The frequency of budgeting varies by the level of the organization. Often the strategic budgets are set once a year, using the base level approach to ensure consistency and also attain predictability of results. At the business unit level forecasts are evaluated on a quarterly basis, often in quarterly reviews with the CEO and other members of the board of directors present. These are often very involved and quite intense in the level of scrutiny applied to…… [Read More]
"Put it on paper," Cintron advises, and adds, "The first step to creating a budget is simple: put down on paper what you are spending your money on. That sounds easy, but it takes discipline and honesty -- in other words, do not omit anything, no matter how small" (76). In fact, many of the clients who seek out Cintron's advice simply guess at how much money they are spending each month without ever committing a single item to paper. By listing all expenses, though, even the trivial ones, people can make a decision concerning how important these expenditures are to their lifestyles and eliminate those that can add up without people realizing it. For example, Cintron also notes that, "Cut unnecessary expenses. Once you see [what you are spending] in black and white, you can figure out what you can cut. I call it going on a money diet"…… [Read More]
5. What are the top 3 in monetary costs for capital improvement projects recommended for the ensuing fiscal year?
The top 3 costs for Special Warrant Articles for the upcoming budget are: The GMS site de-watering study (including design and cost) at $86,000, GMS/LMS safety locks and video surveillance at $56,431 and finally LMS Emergency Access Road at $44,000.
6. Excluding food service sales what are the top 3 revenue budget lines for the year 05/06?
The top three revenue line for the school year were: Federal Program Grant at $239,042, State School Building Aid at $238,392.16 and revenue from Other Local Sources at $165,049.
7. What is the total dollar amount for appropriations recommended by the School Board?
The total amount recommended by the School Board for the upcoming year is $19,514,314. This includes the $259,854 appropriated to Special Warrant Articles as well as the $19,254,460 appropriated for all…… [Read More]
Are visits to customers scheduled so that sales staff are available to customers at all times in the showroom? Are the full time carpenters sufficient to handle timely output? Would one additional full time person be more financially beneficial than using four on-call contractors?
Income can be categorized as point of sale or accounts receivable. Expenses can be categorized as fixed (insurance, rent, etc.) and variable (supplies, utilities, etc.). Everything that is paid out each month should be included, factoring in for taxes and other items that don't necessarily occur each and every month. Just organizing the data in this fashion may reveal immediate areas of action, like lagging receivables or expenses in a particular category that are out of scope. One of the first steps usually involved is that once everything is laid out in writing, it is time to review the list and decide where to adjust accordingly.…… [Read More]
Encourage more school districts to implement school breakfast programs by providing a 50% increase in the state's reimbursement rate for school breakfasts. (WG, 2006)
The California budget includes $400 million to implement a broad strategy to ensure that California is ready for public health emergencies and is properly equipped to handle them. This funding will enable the state to increase patient care capacity (also known as "surge capacity") to achieve the levels recommended by the federal Centers for Disease Control and Prevention (CDC) and the Health esources and Services Administration (HSA). In the past, California has responded to "moderate" local or regional public health emergencies, such as a fire, flood, explosion, or earthquake, with up to 10,000 casualties over a limited period. Measured against federal HSA benchmarks, California needs to increase response capacity in some areas. Emergency planning experts agree that the most critical element in preparing for surge needs…… [Read More]
The product being promoted by this particular budget is a new ladies razor, and the name that has been decided upon is the "Eternal Ladies azor." The razor's value is that it lasts longer and is priced lower than the competitor's leading razor. Now it's time to get the word out to the targeted audience of single, hairy women between the ages of 20 -- 34. With our new razor they will be hairy no more!
The budget for this particular product is $50,000 for the initial campaign, with additional dollars being allocated to the campaign based on sales of the razor. The advertising budget objective is to provide an initial pop for the product with continuing sales throughout the year to establish a niche in the marketplace, culminating in a rise in brand awareness by 15 -- 20% within the year.
In order to accomplish that objective…… [Read More]
April 1, 2015 and March 31, 2016, an estate of $3,125,000 is exempt.
April 1, 2016 and March 31, 2017, an estate of $4,187,500 is exempt.
April 1, 2017 and Dec. 31, 2019, an estate of $5,250,000.
Raising the estate tax rates will help the families of the most advantaged members of the population.
However, there were also provisions made for education that should increase funding for schools. However, most of these funding increases were geared strictly at charter schools. New York City charter schools will now enjoy some of the greatest protections in the country; under the new state budget agreement, for the first time ever, charter schools will be eligible for government funds (MYFOXNY, 2014). A $1.1 billion, or 5.3%, increase in education aid, with high-needs districts getting almost 70% of the hike; allocations of $340 million for universal pre-K during each of the next two years, with…… [Read More]