Question

Who are the key players in a rolling budget and what are their roles?

Answer 1

The key players responsible for rolling a budget and their respective roles are a s follows -

i. Hospital administrator - Assuming and preparing stats for services that the hospital is expeced to provide in the session.

Forcasting and preparing the financial requirements for the new establishments and developments.

Outline the policies and budget goals.

Coming up with the whole budget package with all the written instructions

ii. Department Heads - All the department heads of various units are required to look over the stats and financial need provided to them by their respective department as well as by the administrator

Teams up with the administrator to note down the summary and requirements of each department

iii. Finance Officer - Takes the summary from admin and department head and prepares the department budget and total revenue budget.

Prepares initial operating budget for the whole hospital taking an account of individual units and other requirements.

Encapsulate everything in proper budget format and sends for approval.

iv. Governing board - Provides appropriate directive to the administrative about how to outline the whole budget plan

Reviews and approves the whole budget plan if everything is just fine and nothing needs to be chnaged.