1. It is January 2, 2012 and you have started your first day of work as the Practice Administrator for the Tri-Cities Geriatric Center (a physician practice serving older adults). Your first job is to project a budget for calendar year 2012. In gathering information for this task, you come across budgets for the past 3 years. However, the former Director did not complete budget worksheets (maybe the reason he was fired), so you dont have complete information.

1. Complete the CY 2009, 2010, and 2011 budgets
2. Construct a P&L statement for CY 2012, explaining why you projected EACH number.
3. Assume that it is now January 2, 2013 and the actual budget numbers were reported for CY 2012 in Table 1b. Complete a budget variance report for CY 2012. What does this variance report tell us about revenues and expenses (profit/loss)? What could you have done to increase profit or prevent loss?

   	CY 2009	CY2010	CY2011
   Number of visits	12,000	12,120	12,241
   Private insurance visits			9,793
   TennCare visits	2,400	2,424
   Net Revenue		$557,520	$563,090
   Private revenue	$480,000	$484,800
   TennCare revenue	$72,000		$73,440
   Expenses
   Salaries and wages	$134,933	$136,283	$137,644
   Physician fees	$179,512	$181,307	$183,119
   Malpractice insurance	$32,013	$32,333	$32,656
   Travel and education	$4,488	$4,533	$4,578
   General insurance	$8,377	$8,461	$8,546
   Utilities	$12,267	$12,389	$12,513
   Equipment and lease	$1,496	$1,511	$1,526
   Other operating expenses	$89,756	$90,654	$91,559
   Total Operating Expenses	$462,842	$467,471	$472,141
   Net profit (loss)