Managers will need to be informed of budget cuts and/or spending budgets to ensure the company does not overspend. Cost analysis should be conducted to ensure the dollar cost of the benefits package employees choose to receive is equal amongst all employees and meets employer budgetary…
As a principal, I will be in charge of the school’s budget. I will be required to prioritize the funds in order to be able to cover operational expenses and any…
FY16-17 adopted budget line items are available in (L:\) drive. You can view the either pdf or excel file. Each folder, there is an Index File. 1. Open the Index File.…
Credit ratings are crucial for schools looking to borrow money for capital improvements and maintain positive cash flow. The article NMSU’s bond rating lowered, describes the financial status of the New Mexico State University. Standard & Poor’s Services is one of three major credit agencies. They issued the credit rating downgrade from AA to AA- with a stable outlook. The downgrade impacts the university both internally and externally.…
Fiscal Concerns in the Health Care Setting Case Study As a manager of a unit, certain responsibilities and obligations are difficult to manage. There are major tasks that are connected, and each flows in a different direction, and the responsibility always lies with the manager. In a healthcare setting, the importance of nurses in contributing to fiscal planning has been recognized. According to Marquis and Huston (2012), nursing managers have to be experts in financial matters to ensure that there are patient and staff satisfaction within their organization. Therefore, to ensure that resources are used wisely and timely in a cost effective manner, nurse managers are supposed to have an appropriate balance when spending allocated finances and…
In the case of “A Faculty Budget”, Jackson Daniels finds himself faced with the same kind of ethical dilemma that those who prepare financial reports see all the time. An error occurred, and once he realized his mistake he faced the decision of doing the right thing ethically even if it may cost him his job, all the while receiving advise from his friend to take the “wait and see” approach. Jackson Daniels is an accountant for Lynchberg Manufacturing. Daniels was responsible for creating the sales budget for the year 2011. The finalized budget represented a 25% increase over 2010.…
Hayley Knox Texas’ Top 3 Leaders Asking for a 4% Budget Cut for 2018-2019. Do you agree on blanket cuts with or without exceptions or just raising taxes to cover state government needs? The debate over whether Texas should be cutting services, raising taxes, taking a 4% blanket cut across each agency or should there be exceptions to the 4% cut is a major ongoing discussion. You can justify all sides if you look deep enough and listen to all the politicians. Governor Greg Abbott, Lt. Governor Dan Patrick and Texas House Speaker Joe Straus, the three top Republicans in Texas, are asking for some belt tightening from their state agencies as they prepare their request for allocations for the 2018-2019 budget.…
Tammy Raville Wilvena McDowell COM 231 29 October 2013 INTRODUCTION Do you enjoy the freedom of choosing what school you attend, picking your choice of study? Your freedom of religion, the freedom to own a firearm? Do you enjoy lying down at night without the sounds of gunfire or the possibility of a home invasion?…
Reading the article by Shultz and Whitesell (2005), it seems like in 2003, Bolivia needed to borrow money to finance its annual budget, so they turned to the IMF. The IMF in turn wanted 8% of their national budget, roughly $250 Million. You know the world is in a large wealth inequality when 8% of Bill Gates' current wealth is roughly $6 Billion, 24 times more than 8% of Bolivia's national budget in 2003! Because of IMF asking for wealth, Bolivia had to take desperate measures meaning increased taxes. First they tried proposing oil and gas taxes, but they also wanted to show foreign countries how well they were doing, so they disregarded that option.…
Budget Planning Reflection: Felton Family Preschool Budget As I was reading the book “The Business of Child Care Management and Financial Strategies” it pointed out some very good information to know and understand when it comes to budgeting. First a person has to have an “Estimating Monthly Budget Amount” when running any type of organization, company, or business. (Jack, 2005, p. 72) That is when a person usually tracks their monthly revenue and expenses.…
When facing budget cuts as many agencies have with the state of the current economy it seems that it would not be as challenging to go through and make decision based on cost and what impacts the bottom line. The issue is often the impact is greater than just making a decision. It is crucial to look at the big picture and have all the facts before making decisions. It is also not effective to make to make reactive decisions; rather make decisions that will impact the long term gain of the organization well maintaining the mission, values and…
Statement of Problem and Significance Many companies struggle with budget management, so they carry out downsizing in order to meet budget and financial goals. The definition of downsizing is when companies pare their workforce by over 20 percent (Galagan). There are various reasons why companies would need to downsize; decline of sales, facility closings, and useless positions (“Corporate Downsizing Considerations”). In some situations, positions become useless due to technological advancements (Chambers).…
Introduction Freezing out profits is an article that discussing on a company based in Singapore with an oversea factory in China, which is Cold Cuts Ltd. The managing director of the company is Mr Dali. The company produce the refrigeration fragments and specializing in it. The company also industrialized its own product which known as Fuzzy Frost. They upgrade Fuzzy Frost to become Fuzzy Frost Alpha System which will improve features in the refrigerator.…
BUDGETARY CONTROL 1. Introduction (250) The word “budget” was come from Latin word “bulga”, meaning a little bag or knapsack (Quinion, 1996). A budget is a detailed plan for the acquisition and use of financial and other resources over a specified time period, while budgeting is the act of preparing a budget (Seal, Garrison and Noreen, 2012). The budget represents future plan which expressed in formal quantitative terms.…
1.2 The Radiology Department. The Radiology Department is one of the biggest departments in E.W.M.S.C. and is commonly called the imaging or diagnostic department. It houses a variety of professionals and is the backbone in the operation of the Hospital. Most patients are referred to this department have some sort of procedure or investigation done and only when the results are known then a proper diagnosis can be done.…