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Read the case study below related to the budgeting of a unit. Prepare a brief presentation of five to seven slides (not including your title or references slide) that address the questions listed at the end. Use a minimum of four sources and reference them using APA format.
You are the manager of a medical/surgical unit. Today is April 1st, and the fiscal year began on July 1st. You work with three types of budgets for your unit: personnel, operating, and capital. You have the opportunity to make changes to the current budgets based on the unit’s variance analysis. You cannot go over the total budgeted amount assigned to you. Your budget is presented below:
Annual Budget
Expended in March
Expended Year to Date
Amount Remaining
Personnel
$400,000
$30,000
$275,000
$125,000
Overtime
$50,000
$2,000
$50,000
$0
Supplies
$30,000
$3,500
$25,000
$5,000
Travel
$1,000
$0
$300
$700
Equipment
$6,000
$0
$6,000
$0
Staff Education
$2,000
$300
$1,200
$800
Things you must consider as manager:
A changing staffing pattern has been noted with a higher acuity on your unit. Your staff and assistant managers are requesting more staff.
The unit is starting a trial medication that requires the use of high-tech pumps. The risk management department has requested that these pumps be available before the trial begins so that staff are familiar with them. The trial medication is to begin in one month. Each pump costs $4,000 and with the volume of anticipated patients that will be receiving the medication, three pumps have been requested.
You have noted that utilization of supplies has been increasing over the past two months, increasing the cost of supplies. With the increased usage of supplies, you note that there seems to be a direct correlation with an increased number of pressure injuries on the unit.
A request has been made by three nurses to attend a pressure injury seminar at a two-day conference in two months. The registration fee would be $400 per person. Projected total cost for the conference is $1,800.
Your presentation should address the following:
How will you address these requests based on the budget provided?
Which expenses would you defer to a new fiscal year?
How accurate were the budget projections? Which budgeting category was predicted most accurately and which was most inaccurate?
What budgeting methods can be used and how do they apply to this case?
What factors would need to be considered to calculate year to date variance for each category? What factors may have contributed to being over budget as determined by variance?
What steps can be taken in the 4th quarter to accommodate and adjust the budget?

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