NUR 4837 Chapter Notes - Chapter 18: Computer Hardware, Fixed Cost
Document Summary
A budget is a financial plan for the allocation of the organization"s resources and a control for ensuring that results comply with the plan. Health care organizations develop budgets for a specified period by determining what goals they want to achieve, predicting expenses and revenues, then planning the annual budget and monitoring it on a monthly basis. Basically, the health care organization"s budget is a document that details how financial resources will be allocated to ensure the organization is able to conduct it daily business and achieve strategic goals. The 3 types of budgets for which a nurse manager typically has responsibility are: Operational: allocates funds for daily expenses, such as salaries, utilities, repairs, maintenance, and patient care supplies. Labor: a subset of the operating budget; allocates funds for salaries, overtime, benefits, and staff development and training. Capital: allocates funds for construction projects and/or long-life medical equipment, like cardiac monitors, defibrillators, and computer hardware.
