Budgetary Accounts

Budgetary Accounts

Submission Feedback: You have a good start here but significant improvement is needed. Please make sure you are reviewing all my materials and taking the time to watch my video and review the rubric. Please read the rubric description – several areas you included were not well defined and lacked context/detail related to the rubric description. Make sure you continue to make the connection between your project and the mission, vision, and values of the facility. This is very important when you approach your board – they want to know how it fits into the overall objectives of the organization. I have provided some detailed feedback above that I think your project could benefit from. Think about what questions an investor or board would ask from a financial and clinical perspective and then answer them. The key is to answer questions before they are asked. One of these questions is, “How long will it take to make my money back?”


Please review each criteria needing revision


Proposal: Organizational Resources

· Identifies the organizational resources that will be needed for proposal implementation, but lacks accuracy or clarity. This is the existing staff and equipment you will need to get your project off the ground.


Proposal: Communication

· Proposes methods for communicating budgetary changes and communicating throughout proposal implementation to departments across the organization, but does not justify the appropriateness of these methods. Much more detail is needed here. How do you plan to deploy this project? What kind of team do you need to create and who should be on it?


Budget: Statements

· Does not select and defend financial statements for use in the proposal. What statements did you review in determining that this project could be undertaken by your organization? Essentially, what statements informed your decision-making?


Budget: Expenses

· Identifies the major expenses associated with the proposal and the budgetary accounts that would be impacted, but identification is not accurate. This should be a list of all items associated with your project.


Budget: Budgetary Accounts

· Identifies what budgetary accounts are impacted but does not state how they are impacted. What accounts will be impacted by your project and how / why?


Budget: Reasoning

· Justifies why the selected budgetary accounts were chosen for adjustment, but not based on previous year’s budget


Budget: Ratios

· Selects and justifies ratios to use for support of the proposal, but does not select appropriate ratios or justification is not logical. Good start here but you will need to use the current ratio to describe the current financial condition of the organization. Also, consider payback period and breakeven point analysis – this will be very important for this type of project.


Budget: Ratio Calculations

· Calculates the selected ratios, but not based on the budgetary statement analysis


Budget: Projected Departmental Budget

· Does not create a departmental budget applying the proposed changes to a specific department

· Please use the budget template sample included in the module and rubric. Also, include the capital budget tab.

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