As the Manager of the Greenpoint location of the Metropolitan Clinic, you have been assigned to complete the 2017 operating expense budget. This clinic provides primary care to patients of all ages. It has contracts in place with all of the major payers as well as all of the Medicaid Managed Care providers currently licensed in NY State.
In preparing your budget for next year you have been given several assumptions, as follows:
The data you have been provided for the current year, 2016, is actual expense thru August.
Your assignment is to complete the excel sheet found in this Homework file, and upload it using the ATTACHMENTS button in the Dropbox. In completing this sheet, you must project 2016 final actual expenses and then project the budget amounts for 2017. If you choose to insert numbers into the various cells, and not use formulas to do your calculations, your grade on this assignment will be lowered by 15 points
8 Month Actual | Projected 2016 | Budget 2017 | ||||
Salaries | $400,000.00 | |||||
Federal and NY Tax | $64,000.00 | |||||
Benefits | $56,000.00 | |||||
Sub-Total Salaries and Benefits | $520,000.00 | |||||
Rent | $65,000.00 | |||||
Electric | $6,000.00 | |||||
Natural Gas | $3,900.00 | |||||
Patient Supplies | $10,000.00 | |||||
Drugs | $12,500.00 | |||||
Sutures and Casts | $5,003.00 | |||||
Pt. Medical Equip. | $675.00 | |||||
Pt. Food | $2,596.00 | |||||
Physician Services | $250,000.00 | |||||
Miscellaneous | $7,623.00 | |||||
Sub-Total Other Operating Items | $363,297.00 | |||||
Office Equipment | $4,567.00 | |||||
Medical Equipment | $12,500.00 | |||||
Sub-Total Equipment | $17,067.00 | |||||
TOTAL | $900,364.00 |
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