I have a spreadsheet that I am having trouble uploading that correlates with this assignment. I post a 2nd post with additional information because it was too long. This was the information provided by my professor.

Assignment Deliverables

Excel Spreadsheets

Projected budget for Fiscal Year 2019 through February 2020 (8 Month Budget)

Projected remaining Fiscal Year 2019-2020 Budget (12 Month Budget)

Revenue and Expenses

Note: Your projections for the yearly budget will differ if you make any changes to the revenue and expenses given the Budget Meeting Transcript

Projected Fiscal Year 2020-2021 Budget

Revenue and Expenses (12 Month Budget)

Budget Memo

Explain rationale for any increases or shortfalls in revenue and the rationale behind any cuts in specific expense categories Reminder the fiscal year for this hospital is J

uly 1st thru June 30th

Assumptions

Current fiscal year July 1, 2019 June 30, 2020

Patient Service Revenue

Projected total hospital patient revenue to be under budget by $10 million

Of the projected $1.2 billion in patient services revenue, approximately 57% of the total projected revenue is for in-patient care; the other 43% is for outpatient revenue

The Medical Surgical Budget reflects only in-patient revenue

Yearly budgeted Medical Surgical Dept. in-patient revenue: $50,000,000

As a percent of the total in-patient revenue: 7%

In-patient revenue for the Dept. in the first 6 months is below budget by approximately $1.9 million is this likely to increase given the information in the Budget Mtg transcript?

Next Fiscal Year July 1, 2020 June 30, 2021

Assumptions

Projected total hospital revenue to increase by 5% due to marketing and managed care contract negotiation

When projecting revenue take into consideration that Medical-Surgical Dept. will only see increases relative to in-patient revenue

Overall hospital goal is to decrease total spending by up to 5%

Cuts in expenses may be targeted, not all expense categories need to be decreased

2019 2020 Medical-Surgical Budget

Month Revenue	2019 2020 Budget Revenue	FY 2019 - 2020 6 Month Variance
$23,123,516	$50,000,000	$(1,876,484)
6 Month Expenses	2019 - 2020 Budget Expenses	FY 2019 Variance
$22,433,565	$40,895,000	$1,986,065

For the first 6 months -- Revenue is below budget, expenses exceed the budget

Budget for Fiscal Year 2019 2020

Estimate the revenue and expenses for the Medical Surgical Dept. through the current month of the current fiscal year July 2019 thru February 2020 (8 Month Budget projections)

Estimate the revenue and expenses for the Medical-Surgical Dept. for the rest of the 2019-2020 fiscal year based on the assumptions provided in the transcript documents (12 Month Budget Projections)

Detailed Excel Spreadsheet with the 2019-2020 yearly budget and explanation of projections in budget Memo

Total in-patient revenue (take into consideration the percent difference between budgeted vs. actual revenue and make adjustments to account for the projected shortfall in revenue)

Total expenses (Highlight specific categories that are projected to be significantly over budget and make any recommended cuts in specific categories of expenses)

In the Memo, discuss changes in projected revenue, and highlight the rationale for any proposed cuts in select expenses

Your projections will vary from the projected 2019 -2020 budget provided to reflect any changes you may make to revenue and expenses based on the information contained in the Budget Meeting Transcript