Assignment

According to the authors, “Budgeting is both a planning and controlling tool.” There are various types of budgets; the authors discuss two major approaches to budgeting, incremental and zero-based. You can research and decide which budgetary method would satisfy the needs of your fictitious healthcare agency.

You will need to develop an itemized budget for your fictitious healthcare agency for a one year period. You will also need to document as to why you chose your particular approach to budgeting as opposed to other budgetary methodologies.You will need to decide how much funding is needed within you organization for the one year period. Also, you will need to justify direct and indirect costs.

Your actual budget will be for a one year period. But, you will need to project how much funding is needed for the next four years per each year. For example; if your budget is $5 million, you will need to project how much funding is needed for Year 2, Year 3, Year 4, and Year 5. Your projections should take into account any expansions, new hires, etc. Just to reiterate,