1. Budget
|
[Bright Horizons} |
Budget |
|||
|
Income |
Actual |
Budget |
Difference |
|
|
Operating Income |
||||
|
Category 1 |
25,000 |
22,000 |
3,000 |
|
|
Category 2 |
35,000 |
31,000 |
4,000 |
|
|
Category 3 |
– |
|||
|
Category 4 |
– |
|||
|
Other |
– |
|||
|
Total Operating Income |
60,000 |
53,000 |
7,000 |
|
|
Non-Operating Income |
||||
|
Interest Income |
2,500 |
2,500 |
– |
|
|
Rental Income |
3,450 |
3,250 |
200 |
|
|
Gifts Received |
2,500 |
2,500 |
– |
|
|
Donations |
6,500 |
2,500 |
4,000 |
|
|
Other |
25,000 |
24,000 |
1,000 |
|
|
Total Non-Operating Income |
39,950 |
34,750 |
5,200 |
|
|
Total Income |
99,950 |
87,750 |
12,200 |
|
| Expenses | ||||
|
Operating Expenses |
||||
|
Accounting and Legal |
2,500 |
2,200 |
300 |
|
|
Advertising |
3,500 |
3,500 |
– |
|
|
Depreciation |
2,500 |
2,250 |
250 |
|
|
Dues and Subscriptions |
150 |
150 |
– |
|
|
Insurance |
6,500 |
6,000 |
500 |
|
|
Interest Expense |
– |
|||
|
Maintenance and Repairs |
– |
|||
|
Office Supplies |
– |
|||
|
Payroll Expenses |
– |
|||
|
Postage |
– |
|||
|
Rent |
– |
|||
|
Research and Development |
– |
|||
|
Salaries and Wages |
– |
|||
|
Taxes and Licenses |
– |
|||
|
Telephone |
– |
|||
|
Travel |
– |
|||
|
Utilities |
– |
|||
|
Web Hosting and Domains |
– |
|||
|
Other |
– |
|||
|
Total Operating Expenses |
15,150 |
14,100 |
1,050 |
|
|
Non-Recurring Expenses |
||||
|
Furniture, Equipment and Software |
6,500 |
6,250 |
250 |
|
|
Gifts Given |
– |
|||
|
Other |
– |
|||
|
Total Non-Recurring Expenses |
6,500 |
6,250 |
250 |
|
|
Total Expenses |
21,650 |
20,350 |
1,300 |
|
|
Net Income Before Taxes |
78,300 |
67,400 |
10,900 |
|
|
Income Tax Expense |
– |
|||
|
Net Income |
78,300 |
67,400 |
10,900 |
One of the major precedence of Bright Horizons would be in ensuring that the facility is sufficiently staffed with most of the competent persons. This would be requiring improving the strategies of recruitment, training and retaining of the top-performing employees in performing in array of positions like that of Medical Director and Assistant Administrator. As per Ghanes et al., (2014), these positions must be crammed in ensuring the regular operation performance for maintaining the capability itself like the security factor along with maintenance and housekeeping and transportation.
Adding to that, Bright Horizons would be ensuring the safety of the residents by recruiting the security personnel. The minimum standard requirement of Florida needs each of the nursing home facilitating more than the 60 beds for having a licensed physician who would be serving as the Medical Director, being in charge of the total strategy of the facility (Dent, 2015). Due to the size, Bright Horizons would need a staff for nursing purpose for offering its residents the optimal care. According to the Minimum Standards for Nursing Homes of Florida, there is a need of a full-time Registered Nurse (NR) who needs to be employed in serving as the Assistant Director of Nursing in any capability having 121 or more inhabitants. Along with that the housekeeping staffs are decisive to control of infection and maintaining the patients’ safety. Bright Horizons need to employ them for cleaning the washrooms, entrance-ways and hallways for the staffs, residents and auditors. Moreover, maintenance crew would be employed in performing the preventative preservation and repairing on the facility’s electrical, involuntary and plumbing apparatus.
Volunteering at the Bright Horizons is essential and would be advantageous for both the residents and the overall facility. Volunteers would be helping with the administrative work process along with helping the residents in navigating the facilities, offering emotional support, answering phones and much more (Dent, 2015). Volunteers can fill into many roles offering additional support without much charge.
Bright Horizons would be achieving profitability within the very first year of its opening as has been indicated in the budget. The Census Bureau statistics stated that the aged population has been growing at a fast pace, with seniors would be looking for facilities that would be permitting them in place within the setting of one society. Projections of the market state that facilities that are long-term in the area of southern Florida are already at aptitude and understanding the problems related to regulation and residential.
Bright Horizons have been working hard in guaranteeing their long-term success from the perspective of safety process by trailing the Code of Federal Regulations that is being put forth by the Occupational safety and Health Administration (OSHA), endowing in the technology and equipment of the state of the art (Hughes et al., 2015). The facilities of the long-term care is labor-manual, therefore, the costs of staffing accounts for an important portion of the overall expenditures. Bright Horizons have been sufficiently budgeting the hiring of the ample staffs in ensuring the thriving operation in offering quality care for residents.
Reference:
Dent, B. (2015). Nine principles for improved nurse staffing. Nursing Economics, 33(1), 41.
Ghanes, K., Jouini, O., Jemai, Z., Wargon, M., Hellmann, R., Thomas, V., & Koole, G. (2014, December). A comprehensive simulation modeling of an emergency department: A case study for simulation optimization of staffing levels. In Simulation Conference (WSC), 2014 Winter (pp. 1421-1432). IEEE.
Hughes, R. G., Bobay, K. L., Jolly, N. A., & Suby, C. (2015). Comparison of nurse staffing based on changes in unit?level workload associated with patient churn. Journal of nursing management, 23(3), 390-400.
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