Preparing and Managing an Operating Budget

Detailed Instructions

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       You are the nurse manager of a 35-bed hospital unit with 20 full-time equivalent (FTE) staff. You have been given the task of getting the budget under control. Several people have recently left the unit, and you have been working to fill those open positions. Your staff work scheduled overtime and many sign up to work extra shifts. Your unit serves an older population, as well, and has incurred expenses associated with this group of patients.

 

Requirements

Note: The following requirements correspond to the grading criteria in the assessment scoring guide. Be sure that your budget addresses each point, at a minimum. You may also want to read the Guiding Questions: Preparing and Managing an Operating Budget [DOCX], linked in the Resources under the Suggested Resources heading, to better understand how each criterion will be assessed.

Prepare and submit an operating budget for your hospital unit.

    Prepare the operating budget.

 

Quick Response

The formation of the operating budget requires consideration of various factors including the past trends, overall economy, and the existing need in the hospital unit. Therefore, the budget that will

be developed will consider the existing problem of inadequate employees in the unit. Therefore, some funds should be set aside to accommodate additional staff and hence relief the employees

who signed up to work extra shifts. This consideration is crucial especially due to the existence of the open positions. In addition, the unit deals with an older population and hence the need to

consider various expenses linked with this age group (Upvall & Leffers, 2014). The criterion will help prioritize budget vote heads to ensure that resources are distributed appropriately to promote

efficiency…

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