Strategic Plan Part III – Financial Plan Resource: Preopening Budget Example located on the student website Design a 3- to 5-year financial plan to implement the goals and objectives created in Part II 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 • 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, and ROI (if applicable). Section Two: Financial Plan Explanation • Write a 1,050- to 1,400-word narrative discussing the fiscal detail 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. • Financial details that cannot be found may be assumed. • Budget summary: When explaining your budget, answer the following questions: o What is the organization’s current business model? Did you make any financial adjustments that go against the way the organization planned its finances in the past? If so, what were they, and why did you make the changes? o How did the organization’s internal resources and financial capabilities affect your financial plan? How will they affect implementation of the plan? Cite at least four sources to support your information. Format your paper consistent with APA guidelines. On page below there is a financial plan example to follow. I need a statement included in this paper about HCI Healthcare Group. Please view the yearly finance statements which can be found in the HCI Health Group from 2012 to present. Please Include the details described above in the first section as described and the paper in section two.
University of Phoenix Material
Sample Strategic Planning Spreadsheet Diagnostic Imaging 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
The information below is what is cut off on the right side above
Strategies to Increase Volume Purchase and install a new MRI. Train or hire additional staff to operate new MRI. Increase marketing to physicians.
Assumptions Increase in revenue/year 10.00% Increase in salaries/year 4.00% Increase in supply expense/year 5.00% Travel as a % of revenue 0.50% Maintenace as a % revenue 1.00% Contracts as a % of revenue 2.00% Marketing as a % of revenue 0.50% Misc as a % of revenue 1.00% Salaries as a % of revenue 65.00%
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