Budgeting L3

What s an organized plan for coordinating resources, revenues, and expenditures.

• Finance

• Billing Codes

• Common denominator

• Budget

Which type of budget is most often an annual budget and usually lasts for a period of 1 year,

- used to cover day to day operating a given program

• Budget Cycle

• Short Term Budget

• Mid Year Budget

• Long Term Budget

Budgets are a quantitative expression of the AT's management plan.

• True

• False

Healthcare programs are subject to all economic pressures, depending on the setting.

• True

• False

Answer explanation

Regardless of the setting

Personnel costs usually accounts for the largest percentage of budget allocation, typically between __% of the entire budget.

• 30-50%

• 40-65%

• 50-75%

• 60-80%

Personnel costs or Benefits typically involved in addition to the salary are all of the following except

• Salary

• Benefits

• Sick time-off

• Personal time off

• Worker's compensation

It's not important to have personnel costs budgeted before moving forward with other budget needs

• True

• False

Answer explanation

It is important

Personnel costs are based off of full-time equivalent; 1 FTE = 1 person working __ hrs/week.

• 10

• 20

• 30

• 40

what is also known as the budgeting period, period of time during the calendar year when the budget is made

• Budget cycle

• Calendar year

• Budget management

• Short term budget

Budget cycle is the same as the fiscal year

• True

• False