A Budget Is A Plan Expressed In Dollar Amounts That Acts As A Road Map ✓ Solved

A budget is a plan expressed in dollar amounts that acts as a road map to carry out an organization’s objectives, strategies and assumptions. There are different types of budgets that healthcare organization use to manage its financial and managerial goals and obligations. Discuss the difference between an operating budget and a capital budget. What are the steps in creating each budget? To support your work, use your course and textbook readings and also use the South University Online Library .

As in all assignments, cite your sources in your work and provide references for the citations in APA format. Your initial posting should be addressed at words. Make your post to this Discussion Area by the due date assigned. Be sure to cite your sources using APA format. For this paper you must cite and reference 2 sources.

The paper should be 2–3 pages and written using current APA format. Your paper should address the following: a. How would you prepare for the following situation? (provide realistic examples and details for safety and survival) (Scenario) At this moment, you are sitting at home working on your WCU class. Suddenly, the National Weather Bureau sends an alert across your cell phone—a tornado is headed your way. You have 15 minutes before touchdown in your neighborhood.

What is your plan? This is a 'shelter in place' scenario, you cannot outrun the tornado. Identify a safe place in your home to take shelter. You must include research. Cite and reference two sources and explain the recommended safety measures in a tornado emergency and how you would apply them to your specific living arrangements. b.

How prepared are you in the event of a disaster? Describe your level of disaster preparedness using specific examples and references to your "go-bag" and preparedness checklist assignments. Example: “I am more prepared for a water-related disaster than a fire-related disaster even though I live in a highly secluded, forested area. I have a boat as transportation in the event of flooding, but I do not have rain barrels or fire barrier supplies on hand.†Example: "There were many missing items on my preparedness checklist. I realized that I do not own a flashlight.

If I had to use my phone as a light it would drain the battery very quickly. c. Reflect on how prepared you were before this class and compare it with how prepared you are now. · Have you acquired any new emergency items? · Do you plan to take any additional trainings or certification courses? · Have you shared your knowledge with friends and family? Review the rubric for more information on how the assignment will be graded. The Rubric Scenario Response (Prompt a)-- Levels of Achievement: Meets or Exceeds Expectations 121.5 (40.50%) - .00%) Responds clearly, thoroughly, and eloquently to the assignment scenario. The response is reflective and insightful.

The response includes detail that exhibits a firm understanding of the course content. All content is accurate and/or supported. Provides several specific examples: Identifies a safe place in home to shelter in place. Identifies realistic safety measures and survival strategies. Includes two sources cited and referenced to support safety and survival strategies.

Mostly Meets Expectations 102.6 (34.20%) - 120.15 (40.05%) Responds thoroughly and effectively to the assignment scenario. The response includes some detail, but some ideas may be vague, incomplete, or lacking in insight. The response suggests an adequate understanding of the course content. Almost all content is accurate and/or supported. Provides a few specific examples: Identifies a safe place in home to shelter in place.

Identifies a few realistic safety measures and survival strategies. Includes two sources cited and referenced, but they may not clearly support the safety and survival strategies presented. Below Expectations 81 (27.00%) - 101.25 (33.75%) Does not respond adequately to the assignment scenario. The response is vague and lacking in detail. The response suggests a vague understanding of the course content.

Much of the content is inaccurate and/or unsupported. Provides one example: Identifies a safe place in home to shelter in place or identifies realistic safety measures and survival strategies. Includes one source to support safety and survival strategies. Does Not Meet Expectations 0 (0.00%) - 79.65 (26.55%) Does not respond to the assignment scenario, or is off-topic. No sources are cited or referenced.

Level of Disaster Preparedness and Reflection (Prompts b and c)-- Levels of Achievement: Meets or Exceeds Expectations 121.5 (40.50%) - .00%) Evaluates one’s level of preparedness by thoroughly and thoughtfully reflecting on the Assignment Checklist items and categories. Draws conclusions and makes reasonable predictions. Provides specific examples from one’s personal situation to support the evaluation with evidence. Reflects thoughtfully and in-depth on personal growth in disaster preparedness throughout the course, offering examples and details for evidence. Mostly Meets Expectations 102.6 (34.20%) - 120.15 (40.05%) Evaluates one’s level of preparedness by thoughtfully reflecting on the Assignment Checklist items and categories.

Draws conclusions. Provides general examples to support the evaluation. Reflects on personal growth in disaster preparedness throughout the course. Below Expectations 81 (27.00%) - 101.25 (33.75%) Evaluates one’s level of preparedness, but does not refer to the Assignment Checklist items and categories. Does not draw conclusions.

Provides general examples, but they are inadequate in supporting the evaluation. Does not reflect on personal growth in disaster preparedness throughout the course, or is vague in reflection. Does Not Meet Expectations 0 (0.00%) - 79.65 (26.55%) Does not respond to the assignment, or is off-topic. Mechanics and APA-- Levels of Achievement: Meets or Exceeds Expectations 27 (9.00%) - 30 (10.00%) The assignment consistently follows current APA format and is free of errors in formatting, citation, and references. There are no grammatical, spelling, or punctuation errors.

All sources are correctly cited and referenced. Mostly Meets Expectations 22.8 (7.60%) - 26.7 (8.90%) The assignment consistently follows current APA format with only isolated and inconsistent mistakes and/or has a few grammatical, spelling, or punctuation errors. Most sources are correctly cited and referenced. Below Expectations 18 (6.00%) - 22.5 (7.50%) The assignment does not consistently follow current APA format. There are several APA mistakes and/or several grammatical, spelling, or punctuation errors.

A few sources are correctly cited and referenced. Does Not Meet Expectations 0 (0.00%) - 17.7 (5.90%) The assignment does not follow current APA format. Most sources are incorrectly cited and referenced, or are missing.

Paper for above instructions

A budget is the financial plan that acts as a road map for organizations, and it’s critical for healthcare facilities to utilize both operating and capital budgets to achieve their objectives. However, in the face of natural disasters like tornadoes, preparedness and safety become paramount. This paper will first compare operating budgets and capital budgets in healthcare settings and then transition to personal preparedness in response to an impending tornado.

Understanding Operating and Capital Budgets

Operating Budget

An operating budget refers to the projected expenses and revenues for the day-to-day operations of an organization, typically covering a period of one fiscal year. This budget delineates all recurring expenses, including salaries, utilities, and supplies, against anticipated income from patient care services. Hospitals and healthcare organizations use operating budgets to guide their routine spending, ensuring that financial resources are allocated effectively (Gapenski & Reiter, 2019).
Steps in Creating an Operating Budget:
1. Gather historical data: Review past financial statements and operational data to understand trends.
2. Estimate Revenues and Expenses: Project income from anticipated patients based on historical data while estimating future costs, always allowing for variables.
3. Review and Revise: Involve department heads to ensure proposed budgets align with operational needs.
4. Finalize and Approve: Present the budget to top management and/or the board of directors for approval (Klein, 2018).

Capital Budget

In contrast, a capital budget is designed for long-term investments in physical assets, such as equipment purchase or facility expansion. Capital budgets usually span several years and often require funding that can involve loans or bonds. These expenditures are significant, and healthcare organizations must prioritize them carefully as they can have lasting financial implications (Harrison & Chittle, 2017).
Steps in Creating a Capital Budget:
1. Identify Needs: Assess organizational needs concerning equipment or capital projects.
2. Prepare Cost Estimates: Obtain quotes and perform detailed analyses to determine total costs, including maintenance and operation (Harrison & Chittle, 2017).
3. Estimate Returns on Investment: Evaluate potential increases in revenue or cost savings from these capital expenditures.
4. Prioritize Projects: Rank the projects based on urgency and organizational objectives.
5. Obtain Funding and Approval: Secure the necessary financial backing and present the budget proposal for approval (Jonas & Delaney, 2019).
While operating budgets focus on short-term financial management, capital budgets provide a framework for making long-term strategic investments. Both budgets are critical for healthcare organizations to ensure sustainability and effectiveness in fulfilling organizational goals.

Preparing for a Tornado Emergency

Safety Measures and Shelter

In the scenario where a tornado alert has been received and there are only minutes to prepare, the first step is identifying a safe place in the home. This typically involves finding an interior room without windows, such as a basement or an interior hallway. If a basement is unavailable, utilizing a large closet or an underground storm shelter is recommended (National Weather Service [NWS], 2022).
Recommended Safety Measures:
1. Stay Informed: Maintain updates from reliable sources for real-time weather information.
2. Gather Emergency Supplies: Create a go-bag containing essentials such as water, non-perishable food, medication, a flashlight, a first-aid kit, and a multi-tool (American Red Cross, 2020).
3. Protect Yourself: Use cushioning materials such as pillows and blankets to protect against potential debris.
4. Avoid Windows: Move to an interior space without windows to prevent injury from shattered glass (NWS, 2022).

Personal Preparedness: Current Status

Upon reflection, my level of disaster preparedness is relatively moderate with respect to tornadic events. While I have a comprehensive first-aid kit and a stash of water and non-perishable food stored, I recently realized that my go-bag lacked important items such as a whistle, which could signal for help if trapped.
Prior to this class, my preparedness focused predominantly on fire-related emergencies due to my living situation, a forested area with a high risk of wildfires. However, the topics covered have highlighted gaps in my preparation for tornadoes and flooding. The realization that I need to invest in a portable weather radio and additional protective gear such as a sturdy helmet has prompted me to review my emergency supplies further (American Red Cross, 2020).

Reflections on Growth

Since starting this class, I have acquired a few additional emergency items including a better weather radio and updated my go-bag to include more relevant supplies. I have also committed to taking additional training courses, particularly in first aid and disaster management, to ensure that I am better equipped in the event of emergencies.
Moreover, I have engaged my family in discussions about disaster preparedness, sharing what I have learned in this course. We have established a family emergency plan that highlights roles and responsibilities during emergencies. This collaborative preparation enhances our collective readiness (Federal Emergency Management Agency [FEMA], 2021).

Conclusion

While the financial management of healthcare organizations through operating and capital budgets is crucial for sustainability, personal disaster preparedness is equally vital. Tornadoes are unpredictable and can lead to significant destruction; thus, understanding safety measures and engaging in proactive preparations are essential. As my preparedness plan evolves, I am more aware of the resources necessary to ensure my safety and that of my family in emergencies.

References

1. American Red Cross. (2020). Emergency preparedness. Retrieved from [Red Cross](https://www.redcross.org/get-help/how-to-prepare-for-emergencies.html)
2. Federal Emergency Management Agency (FEMA). (2021). Disaster Preparedness: A guide to surviving in any emergency. Retrieved from [FEMA](https://www.fema.gov)
3. Gapenski, L. C., & Reiter, K. (2019). Healthcare finance: An introduction to accounting and financial management. Health Administration Press.
4. Harrison, J. P., & Chittle, C. (2017). Capital investment decision making in health care organizations: A systematic review. Health Services Management Research, 30(1), 1-10.
5. Jonas, S. F., & Delaney, C. (2019). Essentials of health care finance. Jones & Bartlett Learning.
6. Klein, R. (2018). Budgeting for healthcare organizations: A step-by-step guide. Healthcare Financial Management Association.
7. National Weather Service (NWS). (2022). Tornado safety tips. Retrieved from [NWS](https://www.weather.gov/safety/tornado)
8. Turner, A. (2020). The importance of creating a family emergency plan. Journal of Emergency Management, 18(3), 215-226.
9. United States Department of Health & Human Services. (2021). Emergency preparedness for health care organizations. Retrieved from [HHS](https://www.hhs.gov)
10. White, K. R., & Griffith, J. R. (2020). The financial management of hospitals and healthcare organizations. Health Administration Press.