Budget Analysis Essay Example | Topics and Well Written Essays - 1500 words

Budget Analysis - Essay Example The budget can be used as a policy document, a financial plan, and even as a way to communicate to all departments. 2. There are many types of budget systems such as the zero-based budget, target budget, and management by objective. The zero-based budget is based on the idea that each year’s budget begins fresh. You start off each budget from scratch and work your way through it by going through each and every department. The target budget is a budget that is based on a goal. If you want to have a certain amount left in each account you basically work your way backwards. For example, if you want 200,000 in the capital budget account at the end of the year and only have 1,000,000 of revenue coming in then you would need to base all of the other expenditures on the difference or 800,000. The 800,000 would be the money left over to budget with since you want to have a certain amount left in the account at the end of the budget year. The management by objective is based on results . Management attempts to align the objectives and goals of their employees with the company’s overall goals and then measure their goals based on feasibility. Zero-based budgeting is used because it makes the most sense. Each year the city would analyze the prior year’s budget and come up with a variance report. ... The budget cycle is basically the process that each department goes through to make sure they have included everything in their budget. This may include preliminary meetings with the city manager and budget director to determine what is needed or necessary for the year. The budget cycle and calendar interact in tune with one another because the calendar basically dictates how much time each department has to go through their budget cycle. 4. The city’s budget process is greatly affected by the economic backgrounds of their citizens because the backgrounds determine what is needed within the city. If the city is primarily made up of individuals who drive all the time then it might determine how much money in street repairs are needed. If the city is constantly seeing an increase in children then it might determine that another school is needed. . 5. Revenue is any money coming into the city. The city has various revenue streams such as taxation, the sale of public services and property, transfers, borrowing, funds from other sectors such as grant giving foundations. The major source of income for most if not all cities is taxation. Taxes come in the form of sales tax and property tax. For the most part, the revenue from taxation can be predictable if there is little fluctuation in the population. If citizens are not homeowners then the property taxes would decline. 6. A fixed expense is an expense that does not change. This can be almost anything within the city’s budget such as equipment maintenance, salaries, etc. This fixed expense must be addressed before any other expenditures are added to the budget. Regardless of how much the other expenses are, the fixed

Healthcare Informatics Essay Example | Topics and Well Written Essays - 1250 words

Healthcare Informatics - Essay Example One critical question that one should reflect on is whether the patients are aware of the privacy risks involved in exposing their personal health data? (Chbeir & Al Bouna, 2013). Or whether there are appropriate policies for these social sites that guarantee the safety of the information to avoid health data security breaches that may turn costly on the part of the information owners? Awareness and education of the users are of paramount importance in mitigating the privacy risks. Li (2013) observes that there policy implications of using the health social networking sites and the stakeholders and the policy makers should elaborate them to protect the privacy of online health data. The health social networking sites are left to decide what information will be kept private and what will be shared. If there existed knowledge about the privacy settings, patients would be able to restrict the health data they want to keep secret. Healthcare Informatics After reading the work by Li (2013), I strongly support the option of privacy by education for mitigating the privacy risks surrounding the health data shared on the social networking sites. It should be noted that the health data collected from the social sites attracted unlimited commercial interests that can be used as business opportunities for medical research companies and partners.