What is keeping you from accomplishing your goals?
14 Budgeting and Managing Fiscal Resources
The Budgeting Process
Approaches to Budgeting INCREMENTAL BUDGET
ZERO-BASED BUDGET
FIXED OR VARIABLE BUDGETS
The Operating Budget THE REVENUE BUDGET
THE EXPENSE BUDGET
Determining the Salary (Personnel) Budget
BENEFITS
SHIFT DIFFERENTIALS
OVERTIME
ON-CALL HOURS
PREMIUMS
SALARY INCREASES
ADDITIONAL CONSIDERATIONS
Managing the Supply and Nonsalary Expense Budget
The Capital Budget
Timetable for the Budgeting Process
Monitoring Budgetary Performance During the Year
VARIANCE ANALYSIS
POSITION CONTROL
Problems Affecting Budgetary Performance
REIMBURSEMENT PROBLEMS
STAFF IMPACT ON BUDGET
1. Describe how the budgeting process works. 2. Differentiate among types of budgets. 3. Demonstrate how to monitor and control
budgetary performance.
4. Explain how to determine budget variance. 5. Describe how staff affect budgetary
performance.
Learning Outcomes After completing this chapter, you will be able to:
Key Terms Benefit time Budget Budgeting Capital budget Cost center Direct costs Efficiency variance Expense budget Fiscal year