“You are the financial manager for a small outpatient clinic. Due to the passage of the Affordable Care Act, your organization was required to change insurance companies to meet the guidelines and expectations within the ACA. Salaries increased in FY 2017 due to hiring new personnel. Utilizing the attached balance sheet, create a memo to the Board of Directors regarding the budget proposal for next fiscal year.
Using the provided balance sheet, identify three areas of budgetary concern.
Create a memo that identifies the three major areas of concern over the past year. For each of the three areas of concern:
Use the memo template in Microsoft Word (or another template) to format the memo.
Summarize the current status in 75 words or less.
Recommend one possible solution for improvement or sustainability for the Board to consider when voting to approve next year’s budget.