Virtual Training – Managing Your Unit’s Budget: Strategies for Success
Your unit’s budget has been approved and you are in the new fiscal year! Now what?
Managers play a crucial role in monitoring financial performance throughout the fiscal year. Keeping a close-eye on budgeted versus actual results, on an ongoing basis, provides insight for improved decision making to achieve financial goals. Managers must be able to identify variances as favorable or unfavorable, analyze factors contributing to variances, and provide explanations to determine the short and/or long-term impact. This interactive virtual session will increase knowledge and understanding of managing a budget, including planning, monitoring and analyzing data throughout the fiscal year. Sample financial statements will be analyzed and participants will practice identifying and explaining variances. Strategies for providing high-quality care while staying cost-competitive will also be discussed.READ MORE