Budget a permanent ongoing budget that is routinely

Budget Process

Budget
is a financial proposal that includes projected expenditures as well as income
for  the duration of time (Marquis &
Huston, 2017, p. 236). In my facility the budget process is usually a joint
power between the Director of Nursing (DON) and the facilities finance
department.  Budgets are required in an
organization because it would increase and improve the quality of care in the
facility.

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When
I did my interview, I spoke with the DON. Finding financial information was a
bit challenging. The answers were vague and not straight to the point. I was
unable to find relevant reading materials regarding financial management, and
there were scarce reference managerial tools to look up the information.

However, what I learned during the interview was that there is an issue
surrounding the development of resources allocation, which I assumed relates to
the complexity of the relationship between the existing budgets.

In
the facility, we have a permanent ongoing budget that is routinely approved (unable
to find who approve this budget), and a temporary budget, which is set out each
year in the schedule of new expenditures. For example, change in staffing according
to the facilities census. Overall, I noticed that there is lack of information
system to provide appropriate information for allocating resources.

Relationship of Budget to Organizational Goals

            At
Whitney Oaks Care Center (WOCC), our mission and vision is to provide
outstanding and innovative healthcare in an environment that remembers the
importance of the individual and family. A budget needs to be centered on
information that includes health needs of the patients, service patterns
provided, and costs involved. One thing I noticed is that we do not have a
professional accountant, without accountant to manage the finance there can be
a constraint on the system and a reflection of dominance in the department
which can result in reduced care.

            In my opinion, the facility needs to be provided with
adequate resources to allow effective and efficient operation. Additionally,
the DON needs to review staff position and note any recommended changes in the
staffing pattern.  I also spoke to some
of my co-workers, and as expected, we all are clueless when it comes to the
facility finance and budget.

Fiduciary Challenges

            Even
though the DON in the facility is aware of the budgeting and financial process,
she acknowledged that there have been a little training in budgeting, and this
combined with the complexity of the process is a significant problem. Marquis
and Huston (2017) argued that many nurses including the managers find the
fiscal planning because there is lack of education and training on the budget
preparation.

            Another reason for the challenge the DON verbalized was
that there is not enough time for department heads and nurses to attend
training and education programs. She said, ” We already have many management
training. However, no accessible course concentrated on fiscal management.”

            Another challenge we discussed was the fact that most of
us nurses at the facility do not know the facility financial management
performance because communication among the department heads is lacking.  The financial books are not in reach for the
nurses as well.

Professional Nurse’s Fiscal Role

            The role of the decision maker on the facility or in any
healthcare organization can increase the inherent capacity if the head nurse to
critically think and make independent and informed decision regarding the
improvement of their financial management competency. For example, at WOCC I
believe providing the nurses with budgeting information or keeping the
budgeting resources at reach can improve our awareness on how money is being
spent in the facility. Department heads should use a variety of empowerment
strategies that are important to the intrinsic motivation of head nurses.

We
as professional nurses and members of an organization should make sure we
attend a few in-service training on financial management to learn and gain more
knowledge on how facility budget works and operates. Overall, preparing nurses
to influence the financial performance of the facility on a regular basis is necessary,
because financial management not only promotes department benefit but also successfully
reduces medical cost and improves the deficiency of medical resources.

Finally,
after the interview, I realized that the budget interconnects information about
the facility to other parties who have an interest in the facilities status. In
my facility’s case, the DON must often be able to justify proposed expenses and
revenues to the interested parties.