The laboratory manager and section supervisors are responsible for careful budget preparation and monitoring. The budget is a plan for coordinating the use of resources. Most laboratories have both an operating budget (OB) and a capital budget (CB). The OB includes both income (if available) and expenses associated with the operation. The income is categorized by the source of activity (i.e., outpatient and outreach fee for service activity and research revenue). The CB is for significant investments and often is resourced separately from the OB. However, most organizations include a cost component in the OB categorized as depreciation. It is a fixed, direct cost in the operating budget.
The operating budget is a plan for coordinating expenses and income (if there is income). It is an important tool to identify significant changes in expenses throughout the budget period so adjustments can be made. In the case of managed care, expenses versus institutional benchmarks for patient care are the institution's primary goals to be monitored. To reach these benchmarks, the laboratory needs careful planning and monitoring.
The budget process has four main phases: (1) formulation, (2) congressional action, (3) execution, and (4) audit1. A complete budget cycle lasts more than three years from start to finish, with the formulation phase starting as early as 21 months prior to the fiscal year in which the budget will be executed.
What are the major processes involved in national government budgeting? Budgeting for the national government involves four (4) distinct processes or phases : budget preparation, budget authorization, budget execution and accountability.
A Time-Phased Budget is a budget that is not only a budget defined in terms of magnitude, but it also indicates the planned expenditure of that budget over time.
According to federal law, the president should budget request to Congress each February for the coming fiscal year. To start, each federal agency works with the Office of Management and Budget, which is part of the White House.
Common processes include communication within executive management, establishing objectives and targets, developing a detailed budget, compilation and revision of budget model, budget committee review, and approval.
Common processes include communication within executive management, establishing objectives and targets, developing a detailed budget, compilation and revision of budget model, budget committee review, and approval.
While cost management is viewed as a continuous process, it helps to split the function into four steps: resource planning, estimation, budgeting and control.
Introduction: My name is Carlyn Walter, I am a lively, glamorous, healthy, clean, powerful, calm, combative person who loves writing and wants to share my knowledge and understanding with you.
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