Resource: Preopening Budget Example located on the student website Design a 3- to 5-year financial plan to implement the goals and objectives created in Part II of your strategic plan. The deliverables for the financial plan include a projected budget cre
acoek1k47
hcs586_r5_preopening_budget_example.xlsHome>Human Resource Management homework help>Resource: Preopening Budget Example located on the student website Design a 3- to 5-year financial plan to implement the goals and objectives created in Part II of your strategic plan. The deliverables for the financial plan include a projected budget cre
Preopening Budget Example
| University of Phoenix Material | ||||||||||||
| Sample Strategic Planning Spreadsheet | ||||||||||||
| Diagnostic Imaging | ||||||||||||
| Purchase & | Hire & Train | Strategies to Increase Volume | ||||||||||
| Install | Staff | Purchase and install a new MRI. | ||||||||||
| MRI | Train or hire additional staff to operate new MRI. | |||||||||||
| Revenue | Year 1 | Year 2 | Year 3 | Increase marketing to physicians. | ||||||||
| CT | $2,000,000 | $2,200,000 | $2,420,000 | Assumptions | ||||||||
| MRIs | $8,000,000 | $8,800,000 | $9,680,000 | Increase in revenue/year | 10.00% | |||||||
| General diagnostic | $6,000,000 | $6,600,000 | $7,260,000 | Increase in salaries/year | 4.00% | |||||||
| Interventional | $12,000,000 | $13,200,000 | $14,520,000 | Increase in supply expense/year | 5.00% | |||||||
| Travel as a % of revenue | 0.50% | |||||||||||
| Total revenue | $28,000,000 | $30,800,000 | $33,880,000 | Maintenace as a % revenue | 1.00% | |||||||
| Contracts as a % of revenue | 2.00% | |||||||||||
| Expenses | Marketing as a % of revenue | 0.50% | ||||||||||
| Misc as a % of revenue | 1.00% | |||||||||||
| Salaries | $18,200,000 | $20,020,000 | $22,022,000 | Salaries as a % of revenue | 65.00% | |||||||
| Supplies | $4,200,000 | $4,410,000 | $4,630,500 | |||||||||
| Travel | $140,000 | $154,000 | $169,400 | |||||||||
| Maintenance | $280,000 | $308,000 | $338,800 | |||||||||
| Contracts | $560,000 | $616,000 | $677,600 | |||||||||
| Marketing | $140,000 | $154,000 | $169,400 | |||||||||
| Miscellaneous | $280,000 | $308,000 | $338,800 | |||||||||
| Total expenses | $23,800,000 | $25,970,000 | $28,346,500 | |||||||||
| Net profit | $4,200,000 | $4,830,000 | $5,533,500 | |||||||||
| Capital outlay | $2,500,000 | $0 | $0 |
