I need help with the following questions:
2. Developing a 2014 Statement of Operations and Balance Sheet;
14. Developing a five year strategic financial plan; and
15. Developing for 2015 a five year strategic budget &revenue budget.
Your Bobcat Integrated Delivery System It is December 2014, and you have just accepted the CFO position at Bobcat Integrated Delivery System (IDS). You will be reporting to Mr. Salter, Bobcat IDS chief executive officer, a retired schoolteacher who was hired last year. Also reporting to Mr. Salter e Mr. Wannabe, Bobcat IDS chief operating officer; Dr. Spok, Bobcat IDS medical director; and Mr. Care, Bobcat IDS director of nursing. When announcing your appointment, Mr. Salter stated that your primary objective in the coming year (2015) would be to reverse the ominous financial trend that began in 2013 with an operating loss and continued in 2014 Previous operating losses were funded with investment income (however, investment income was only $200,000 in 2014 because of weakening market conditions). Moreover, your board recently passed a resolution discontinuing that practice and restricting investment income to capital expenditures Bobcat IDS is a not-for-profit corporation and includes a 120-bed acute care hospital, 25-bed skilled nursing facility (SNF), a 15-bed rehab facility, a home health care agency, and an outpatient clinic. The hospital, Bobcat Community Hospital (BCH), is the only hospital in Bobcat, a rural community of 50,000 in your state To acquire background information, you decide to meet with each member of the executive team first then with selected members of senior management MEETING WITH DR. SPOK Dr. Spok, hospital medical director, told you, "Most doctors have been on the medical staff for at least ten years. There is little loyalty to the hospital, and most doctors also have admitting privileges at County Hospital, a newer public hospital with better facilities 30 miles away. While it is a hassle for the doctors to admit their patients to Bobcat Community Hospital County Hospital has a hospitalist and pays physicians large amounts of money for menial service assignments like committee work (a practice that Bobcat has refused to participate in) MEETING WITH MR. SALTER Mr. Salter, CEO, stated, "I just don't understand why we are losing money spent a considerable amount of time recruiting new doctors while keeping the existing doctors happy. The new, younger doctors just don't seem to have a sense of loyalty to Bobcat Community Hospital. Furthermore, I've tried to establish a family atmosphere' for our employees, which stresses getting along well with others in return for job security. Everyone seems happy. Everyone except Ms. Fi Nance Myway, whom you be replacing. She and I both started in January 2013, and she seemed increasingly frustrated with the way I do things here she just didn't fit in. tried to accommodate her by implementing some of her recommendations, even though they were against my better judgment ke charging visitors for parking (generating $100,000 in other operating revenue for 2010). And when Iannounced that I was bringing in more business to the hospital by entering into a two-year capitated managed care agreement with the city (expires this month)-we get $250 per month per family for taking care of the 300 city employees and their families, whether they're sick or no Ms. Myway threw a fit at an t Your Bobcat Integrated Delivery System It is December 2014, and you have just accepted the CFO position at Bobcat Integrated Delivery System (IDS). You will be reporting to Mr. Salter, Bobcat IDS chief executive officer, a retired schoolteacher who was hired last year. Also reporting to Mr. Salter e Mr. Wannabe, Bobcat IDS chief operating officer; Dr. Spok, Bobcat IDS medical director; and Mr. Care, Bobcat IDS director of nursing. When announcing your appointment, Mr. Salter stated that your primary objective in the coming year (2015) would be to reverse the ominous financial trend that began in 2013 with an operating loss and continued in 2014 Previous operating losses were funded with investment income (however, investment income was only $200,000 in 2014 because of weakening market conditions). Moreover, your board recently passed a resolution discontinuing that practice and restricting investment income to capital expenditures Bobcat IDS is a not-for-profit corporation and includes a 120-bed acute care hospital, 25-bed skilled nursing facility (SNF), a 15-bed rehab facility, a home health care agency, and an outpatient clinic. The hospital, Bobcat Community Hospital (BCH), is the only hospital in Bobcat, a rural community of 50,000 in your state To acquire background information, you decide to meet with each member of the executive team first then with selected members of senior management MEETING WITH DR. SPOK Dr. Spok, hospital medical director, told you, "Most doctors have been on the medical staff for at least ten years. There is little loyalty to the hospital, and most doctors also have admitting privileges at County Hospital, a newer public hospital with better facilities 30 miles away. While it is a hassle for the doctors to admit their patients to Bobcat Community Hospital County Hospital has a hospitalist and pays physicians large amounts of money for menial service assignments like committee work (a practice that Bobcat has refused to participate in) MEETING WITH MR. SALTER Mr. Salter, CEO, stated, "I just don't understand why we are losing money spent a considerable amount of time recruiting new doctors while keeping the existing doctors happy. The new, younger doctors just don't seem to have a sense of loyalty to Bobcat Community Hospital. Furthermore, I've tried to establish a family atmosphere' for our employees, which stresses getting along well with others in return for job security. Everyone seems happy. Everyone except Ms. Fi Nance Myway, whom you be replacing. She and I both started in January 2013, and she seemed increasingly frustrated with the way I do things here she just didn't fit in. tried to accommodate her by implementing some of her recommendations, even though they were against my better judgment ke charging visitors for parking (generating $100,000 in other operating revenue for 2010). And when Iannounced that I was bringing in more business to the hospital by entering into a two-year capitated managed care agreement with the city (expires this month)-we get $250 per month per family for taking care of the 300 city employees and their families, whether they're sick or no Ms. Myway threw a fit at an t
