Budget Preparations and Analysis

You have been assigned the task of1) the variance review of the actual expenses for the previous year to the budgeted expenses and preparing a variance report for any variance from the budget of 8% including explanations for the variances and how those variances should be considered in the upcoming budget and2) completing the proposed budget for the next fiscal year for your department, which runs from January – December. As a tool, you have the budget from the previous year, the salary worksheet and the monthly expenses report. You will be using the historical data provided as well as considering your projections for future costs.Click the link below to download the instructions that you received in an email from the Department’s manager. Use these instructions to guide you through the budget preparation assignment.
Budget Preparation InstructionsClick the link below to download a copy of the budget tool that you will use to prepare your proposed budget for the next fiscal year. You may use this tool as a guide for your own budget spreadsheet.
Budget Tool SpreadsheetThe Budget Tool Spreadsheet includes a column of the previous year’s actual expenditures for use in Variance Analysis. Create a Variance Report spreadsheet for 2011 which includes any variance from budget of 8% over or under budget. Include explanations/justifications for the variances and then use this additional historical information in your 2012 budge preparationCreate an Excel spreadsheet for your budget for 2012 that should include three workbook tabs for your proposed budget.One listing salaries.One that is broken down by month.One that is an annual budget.
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budget_tool__actual_expenditures.xls

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Budget Preparation
You have been assigned the task of completing the proposed budget for the next fiscal year for
your Department, which runs from January – December. As a tool, you have the budget from the
previous year, the salary worksheet and the monthly expenses report. You will be using the
historical data provided as well as considering your projections for future costs.
Be sure to download the accompanying budget tool spreadsheet to use for this activity.
You have been told to project a maximum 3% salary increase.
You have been told to project an increase in supplies of 5%.
You have been told to project a 3% increase in all other areas, except those discussed below.
You must also evaluate travel expenses, membership, and dues. It is the policy of your facility to
pay for the coder CCS annual maintenance, your AHIMA dues, and to reimburse any coder who
successfully passes the CCS examination. You know that two of your coders plan to take the CCS
exam next year. (Check AHIMA for these costs)
You need to budget to attend the AHIMA convention (use 2012 cost date). Be sure to estimate
airfare, hotels, food, and registration fees for a 4 day convention. Attach appropriate document
that details estimated expenses. (Yes, check actual airfare from GSP to the site of the 2012
convention and include that. Estimate $175.00 a night for hotel and $50.00 a day for food).
You typically host lunch for your staff during HIM week in November. You have 12 employees in
your department and you usually plan to spend $10.00 per person.
You need to budget for education. You know that you must provide education for your coders to
include, at a minimum, FY coding updates (both ICD-9 and CPT). Additionally, your coders need a
minimum of 10 CE’s a year to maintain their coding certification and the hospital provides that
education. (Budget enough to cover the cost for approximately 10 hours.)
Based on 2080 hours working a year, what is your department’s average hourly rate?
What is the total average monthly expense for your Department each month?
(total budget / 365 * days in month)
1.
Create a Variance Report spreadsheet for 2011 which includes any variance from budget of
8% over or under budget. Include explanations/justifications for the variances and then use
this additional historical information in your 2012 budge preparation. Take into account the
following which occurred during 2011 which may have an impact on how you respond/explain
the variances.
a.
Began a scanning project, which allowed you to destroy paper copies after scanning
b.
Began electronic processing of ROI requests instead of paper
c.
Your DRG Coordinator, who was not credentialed retired and your new hire is an RHIA,
whose salary offer was 10% greater than the retiring DRG coordinator
d. You hosted a physician ICD10 Update training session with luncheon to encourage
physician participation in the process of ICD10 transition
2. Create an Excel spreadsheet for your budget for 2012 that should include 3 workbook tabs for
your proposed budget.
o One listing salaries.
o One that is broken down by month.
o One that is an annual budget.
PUT THE NAME OF YOUR HOSPITAL HERE
HEALTH INFORMATION MANAGEMENT
ANNUAL BUDGET FOR 2011
Actual 2011 Expenses
SALARIES $454,480.00
EDUCATION
$1,200.00
MAINTENANCE CONTRACTS $12,000.00
REPAIRS
$6,600.00
FOOD
$300.00
STORAGE
$6,120.00
POSTAGE
$3,576.00
OFFICE SUPPLIES $21,000.00
PROFESSIONAL DUES
$7,368.00
TRAVEL
$1,800.00
TOTAL $514,444.00
$460,304.00
$1,225.00
$12,000
$6,500.00
$400.00
$5,508.00
$2,976.00
$22,000.00
$7,368.00
$1,850.00
$520,131.00
AVERAGE HOURLY RATE
$18.21
$18.44
REVENUE
$93,600.00
$99,216.00
THE NAME OF YOUR HOSPITAL HERE
2011 SALARIES
SALARY EXPENSES WORK SHEET
POSITION
DIRECTOR
DRG COORDINATOR
CODER
CODER
CODER
SUPERVISOR
CLERK
CLERK
CLERK
ROI CLERK
ROI CLERK
VITAL STATS CLERK
DIRECTOR SALARY ADDED BACK IN
TOTAL SALARIES FOR DEPARTMENT
SALARY HOURLY RATE
$78,000.00
$28.00
$22.00
$20.00
$18.00
$20.00
$11.00
$11.00
$11.00
$14.00
$14.00
$12.00
*2080
$58,240.00
$45,760.00
$41,600.00
$37,440.00
$41,600.00
$22,880.00
$22,880.00
$22,880.00
$29,120.00
$29,120.00
$24,960.00
$376,480.00
$78,000.00
$454,480.00
PUT THE NAME OF YOUR HOSPITAL HERE
HEALTH INFORMATION MANAGEMENT
MONTHLY EXPENSES FOR 2011
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
YTD
SALARIES $38,599.67 $34,864.22 $38,599.67 $37,354.52 $38,599.67 $37,354.52 $38,599.67 $38,599.67 $38,599.67 $38,599.67 $37,354.52 $38,599.67 $454,480.00
EDUCATION
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$100.00
$1,200.00
MAINTENANCE CONTRACTS $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $12,000.00
REPAIRS
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$550.00
$6,600.00
FOOD
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$25.00
$300.00
STORAGE
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$510.00
$6,120.00
POSTAGE
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$298.00
$3,576.00
OFFICE SUPPLIES $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $1,750.00 $21,000.00
PROFESSIONAL DUES
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$614.00
$7,368.00
TRAVEL
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$150.00
$1,800.00
TOTAL $43,596.67 $39,861.22 $43,596.67 $42,351.52 $43,596.67 $42,351.52 $43,596.67 $43,596.67 $43,596.67 $43,596.67 $42,351.52 $43,596.67 $515,689.15
AVERAGE HOURLY RATE
REVENUE
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$7,800.00
$93,600.00

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