You have been assigned the task of completing the proposed budget for the next fiscal year for your department. The fiscal year is from January – December. As a tool, you have the budget from the previous year, a salary worksheet, and the monthly expenses report. You will be using the historical data provided as well for considering your projections for future costs.
First, download the HIM Department Worksheet
Next complete the following.       
Analyze the 2015 Budgeted Amounts for the various areas within the department budget.                 

 
Analyze the 2015 Actual Budget Spent for the various areas within the department budget

 
Calculate the variance between what was budgeted and was spent in 2015. Enter the variance amount in the appropriate column. 
To create your 2016 budget, follow the guidelines from your CFO:
       You have been told to project a 5% salary increase for all employees.                   

You have been told to project an increase in office supplies of 7%.                 

You have been told to project a 5% increase in all other areas.
HIM Department Budget
1. Calculate the 2015 variance by comparing the 2015 Budgeted Amounts with the
2015 Actual Budget Spent.
2. Calculate the 2016 budget based on the 2015 Budgeted Amounts and the
increases from your CFO as indicated in the assignment instructions.
Item
2015
Budgeted
Amounts
2015 Actual
Budget Spent
$78,000.00
$78,000.00
Personnel
Salaries
$391,040.00
$391,040.00
Office
Supplies
Education
Professional
Dues
Travel
Subscriptions
Conference
Fees
Postage
Maintenance
Contracts
Repairs
$36,000.00
$29,000.00
$1,200.00
$250.00
$1,300.00
$250.00
$1,800.00
$500.00
$8,000.00
$1,775.00
$500.00
$9,200.00
$1,000.00
$25,000.00
$900.00
$25,000.00
$3,500.00
$2,000.00
Revenue
Expenses
Department
Expenses
2015
Variance
2016
Budgeted
Amounts

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