I am a CEO of a Regional Medical Center and am reviewing the planning and budgeting process
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Question:
I am a CEO of a Regional Medical Center and am reviewing the planning and budgeting process for next fiscal year with the Committee Board of Directors. They want to change the process and have requested I review the following:
-should the budget be zero based or conventional?
-should I be in favor or top-down or bottom up process?
-should the budget be fixed or flexible?
-explain the purpose of variance analysis to the Board Members
-explain to the Board members how planning and budgeting are linked
I have to provide them a written response via memo.
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