1.Discuss steps in developing the unit or department budget. Who all is involved? 2.What factors should be included when planning the Salary Budget? 3.Describe volume, efficiency and rate variances?...

Running Head: HEALTHCARE-NURSING                            1
HEALTHCARE-NURSING                                    2
HEALTHCARE- NURSING
Table of Contents
1. Discuss steps in developing the unit or department budget. Who all is involved?    3
2. What factors should be included when planning the Salary Budget?    4
3. Describe volume, efficiency and rate variances? Provide examples of each of these from your experience.    4
4. Differentiate among various types of budgets: fixed, variable, capital budgets.    5
5. Does your organization waste salary or non-salary resources? If not, describe ways in which you provide leadership in managing resources at your workplace. Provide examples from experience.    6
References    8
1. Discuss steps in developing the unit or department budget. Who all is involved?
In order to keep a business financially sound departmental budgets play a great role. To ensure that there is no depleting cash flow, review of budget is required throughout the year. It helps to pay bills, salary on time and plan surplus for any addition or subtraction in case of emergency. The following steps can help in planning effective departmental goals
a) Review Goals or Development stage: It does not matter how many departments exist in an organization but the number of departments exist they should fit within the organizational goals. For sales and marketing department budget can be on higher side as it involves activities, which require more financial support for example advertising, running live campaigns related to the services provided and latest additions to the hospital like any new surgeon and diagnosis facility (Duffy & Lee, 2018).
b) Past budget or Planning: Previous year financial budget can be of great help while designing current year’s budget as it will guide what factors require more attention while planning budget. For example, as the pandemic is still prevailing, at the global level, the year 2020 witnessed major setbacks in health care system. Even best medical facilities available were not enough to cater patients’ needs. The budgets failed and the anticipatory demands were not met. This can be a good lesson to plan current year budget keeping emergency state in mind as second wave of pandemic started (Ryan et al., 2017).
c) Future requirements or monitoring: Definitely, budget is inspired by past actions but influence future needs. While designing budget factors, which require more attention in future, need to be studies and budget is to be allocated accordingly to them. It should have more caution for future expenses such as getting more oxygen cylinders, extending wings of hospitals (Song, Reifsnider, Zhao, Xie & Chen, 2020).
d) Discussion or justifying and reporting: The budget should be discussed with the departmental heads and team so that no point is left while planning the budget.
e) Regular review or variance analysis: The planning and designing is not enough. Continuous review to ensure all the noted deviations is fixed in timely manner to increase the effectiveness of the budget (Anderson et al., 2020).
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