For fiscal year 2017 and 2018, your clinic received $3 million from the government as fee-for-services reimbursements, as well as $1.1 million from private payers. The clinic has an annual fund-raiser that historically brings in $180,000 and a grants department that brings in $1.2 million annually.

Your chief financial officer (CFO) has provided you with the following annual expenses:

UMGC Health Care Annual Expenses: Annual salaries - $1.5 million Annual benefits - $ 240,000 Annual rent - $ 960,000 Annual insurance - $ 45,000 Annual depreciation - $ 780,000 Annual overhead - $ 180,000 Annual supplies - $60,000

Using the UMGC Health Care Operating Budget template, complete a 12-month operating budget in which you include the net profit (loss).

UMGC Health Care

January

February

March

April

May

June

July

August

September

October

November

December

Total

Revenues

Fee-For-Service

$-

Private Pay

$-

Fundraiser

$-

Grants

$-

Total Revenues

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

Expenses

Salaries

$-

Benefits

$-

Rent

$-

Insurance

$-

Overhead

$-

Supplies

$-

Depreciation

$-

Total Expenses

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

Net Income (Loss)

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-

$-