operating budget

Write a 3-5 page executive summary that justifies the operating budget you prepared in Assessment 2.

Consider the operating budget you developed in Assessment 2.

RUBRIC

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Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

• Competency 1: Design an operating budget that incorporates variances or discretionary spending.
  • Outline a strategic plan that ensures profitability and fiscal success.
• Competency 2: Develop a plan for managing the labor force, within the parameters of the budget and productivity.
  • Present a plan to meet staff productivity goals, while staying within budget parameters.
• Competency 4: Determine the equipment and services needed to maintain seamless patient or client care.
  • Justify equipment and service costs.
• Competency 5: Apply financial principles to a strategic plan for achieving organizational goals and fiscal success.
  • Analyze department, unit, or project alignment with an organization’s mission and goals.
• Competency 6: Communicate effectively with diverse audiences, in an appropriate form and style, consistent with applicable organizational, professional, and scholarly standards.
  • Write clearly and concisely, using correct grammar and mechanics.
  • Integrate relevant and credible sources of evidence to support
• SOLUTION
• An operating budget is a financial plan that outlines the projected revenues and expenses of a business or organization for a specific period of time, typically one fiscal year. It is used to manage and control the day-to-day financial operations of a company and ensure that it stays within its means. The operating budget typically includes items such as salaries, rent, utilities, and other operational expenses. It is usually prepared in advance and reviewed and revised on a regular basis to ensure that the organization is on track to meet its financial goals.