I need help with budgeting worksheets

Version 2 Mini

Budget Exercise In-class

You are preparing the budget for next year, you have been told the following by the finance department:

1. Expect a 3% increase in private insurance

2. Expect to receive 2.5% less income from Medicare

3. Your office received a notice that there will be a 4% increase in rent

4. Wages are expected to increase by 2.25%.

Once you have made all the adjustments determine if you made a profit or loss. If a loss, what adjustments will you need to make to balance the budget or even project a profit? Make at least two-line item adjustments and indicate a rational for each line item.

Class Budget Exercise Worksheet

Expect a 3% increase in private insurance Private Insurance is $380,880

Expect to receive 2.5% less income from Medicare Medicare is $205,000

There will be a 4% increase in rent Rent is $23,500

Wages are expected to increase by 2.25% Wages are $550,600

Version 2