Responding to post NR-533
Write a response to the below discussion post discussing on budget in an institution.
Discussion Post:
After exploring the budget in my institution it is noted that the budgets are largely controlled by the chief operating officer. Each building will be responsible for its own cost containment and are allotted specific money for costs. The administrators from the buildings will input payroll and supply costs from the building and a fiscal report is generated by an accountant hired for the company annually. Mid-level managers do not have much control of budget other than requesting ordered supplies or requesting petty cash for needs. The budget control is largely controlled by the administrator but they are also only given a specific budget. The allotment of liquid cash for use is dictated by the corporate offices. The administrator gets a credit card that will only approve up to a certain amount. All invoices, receipts have to be submitted to the corporate office and any extra spending must be explained (Alsayegh Et. Al.,2020).
The food director is responsible for ordering their food monthly otherwise budget spending is minimal for any department. I have recognized that the company revenue centers are admissions, marketing and Nursing. The cost centers are dietary, housekeeping, medication management and activities. Marketing managers have a much larger budget to buy marketing supplies and to claim travel expenses where dietary and housekeeping budgets are very tight and require large justification when expenses are above where they are needed. The managers are allowed to voice their opinions in regards to budget and in nursing budget input is shared by way of increased employment or ensuring appropriate staffing ratios. In dietary, housekeeping and activities their budget is preset and require extra authorization to go over budget. Admissions and marketing are budgeted together because the admissions department does not require a large budget but often assists marketing (Ghilan et. Al.,2021).
