variance analysis (variance & percentage) on all line items on St. Elizabeth's Statement of Operations and Operating Indicators below. Develop a Variance Analysis Report that you will present to senior leadership in the monthly operating board meeting. (Hint: copy the financial information below into an Excel spreadsheet and use Excel for the report). When you submit the quiz on D2L, you will upload your variance analysis report and record your response to how you would present the information to senior leadership at the monthly operating board meeting. Be able to explain the variance (without using the calculation as part of your explanation) and give recommendations on how to move forward. What key information do you want to highlight in your respinformation to call senior leadership's attention to?

St. Elizabeth
Statement of Operations
December 31, 2023
	Actual		Budget
Routine	22,401,329		21,260,601
Ancillary	100,643,253		96,342,124
Total Inpatient Revenue	123,044,582		117,602,725
Outpatient Revenue	73,052,290		73,467,933
Total Patient Revenue	196,096,872		191,070,658
Other Revenue	1,035,102		1,054,363
Gross Revenue	197,131,974		192,125,021
Provision for Charity Care	8,589,652		7,985,650
Other Revenue Deductions	131,251,287		127,236,628
Total Deductions From Revenue	139,840,939		135,222,278

St. Elizabeth
Statement of Operations
December 31, 2023
	Actual		Budget
Routine	22,401,329		21,260,601
Ancillary	100,643,253		96,342,124
Total Inpatient Revenue	123,044,582		117,602,725
Outpatient Revenue	73,052,290		73,467,933
Total Patient Revenue	196,096,872		191,070,658
Other Revenue	1,035,102		1,054,363
Gross Revenue	197,131,974		192,125,021
Provision for Charity Care	8,589,652		7,985,650
Other Revenue Deductions	131,251,287		127,236,628
Total Deductions From Revenue	139,840,939		135,222,278
Net Revenue	57,291,035		56,902,743
Salaries & Benefits	26,246,788		24,394,341
Contract Labor	220,302		230,652
Supplies	8,023,455		8,521,581
Professional Fees	3,025,032		3,050,608
Depreciation	2,610,976		2,147,640
Contract Services	4,105,601		3,652,013
Repairs & Maintenance	3,250,602		3,106,405
Rents & Utilities	1,252,465		1,249,463
Bad Debts	2,869,715		2,659,546
Other Operating Expenses	519,272		428,285
Total Operating Expenses	52,124,208		49,440,534
Net Income	5,166,827		7,462,209

St. Elizabeth
Operating Indicators
December 31, 2023
	Actual		Budget
Admissions	4,074		4,062
Patient Days	27,932		27,255
ALOS	6.86		6.71
Average Daily Census	76.53		74.67
Outpatient Visits	43,765		51,582
Deliveries	600		620
ER Visits	12,814		10,410
Inpatient Surgeries	1,690		2,027
Outpatient Surgeries	8,716		9,799
Net Days in AR	53		54
Bad Debt/Charity %	11.50%		7.10%