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Projected Budget and Financial Plan Explanation.
Strategic Plan Part 3 – Financial Plan
Create a 3- to 5-year financial plan to implement the goals and objectives created in Part 2 of your strategic plan. The deliverables for the financial plan include a projected budget created in Microsoft® Excel® and a report in Microsoft® Word that clarifies and explains the financial plan.
Section One: Projected Budget
Create a projected budget.
· The projected budget should be a Microsoft® Excel® spreadsheet that contains a 3- to 5-year financial projection that includes detailed expenditures, income, contingency, gain or loss, capital outlay, and ROI (if applicable).
Include budget strategies to increase volume and budget assumptions.
Section Two: Financial Plan Explanation
Write a 1,050- to 1,400-word narrative discussing the fiscal details of the plan and the assumptions that were used in developing the projected budget.
· Include all the elements required in the projected budget.
· Include capital expenditure planning and contingency plans for unexpected events.
· Budget summary: When explaining your budget:
· Describe the organization’s current business model.
· Evaluate the impact of internal resources and financial capabilities on the business model implementation.
· Determine how the organization’s internal resources and financial capabilities affect your financial plan.
· Determine how they will affect implementation of the plan.
· Explain the details of the budget assumptions and the strategies to increase volume.
Cite at least 4 peer-reviewed, scholarly, or similar resources to support your information.
Format your paper according to APA guidelines.
Preopening Budget Example
Sample Strategic Planning Spreadsheet
Purchase & Hire & Train Strategies to Increase Volume
Install Staff Purchase and install a new MRI.
MRI Train or hire additional staff to operate new MRI.
Revenue Year 1 Year 2 Year 3 Increase marketing to physicians.
CT $2,000,000 $2,200,000 $2,420,000 Assumptions
MRIs $8,000,000 $8,800,000 $9,680,000 Increase in revenue/year 10.00%
General diagnostic $6,000,000 $6,600,000 $7,260,000 Increase in salaries/year 4.00%
Interventional $12,000,000 $13,200,000 $14,520,000 Increase in supply expense/year 5.00%
Travel as a % of revenue 0.50%
Total revenue $28,000,000 $30,800,000 $33,880,000 Maintenace as a % revenue 1.00%
Contracts as a % of revenue 2.00%
Expenses Marketing as a % of revenue 0.50%
Misc as a % of revenue 1.00%
Salaries $18,200,000 $20,020,000 $22,022,000 Salaries as a % of revenue 65.00%
Supplies $4,200,000 $4,410,000 $4,630,500
Travel $140,000 $154,000 $169,400
Maintenance $280,000 $308,000 $338,800
Contracts $560,000 $616,000 $677,600
Marketing $140,000 $154,000 $169,400
Miscellaneous $280,000 $308,000 $338,800
Total expenses $23,800,000 $25,970,000 $28,346,500
Net profit $4,200,000 $4,830,000 $5,533,500
Capital outlay $2,500,000 $0 $0
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