Nursing

Ask the expert: Budget tips for nurse managers

Nurse Leader Insider, October 31, 2011

Want to receive articles like this one in your inbox? Subscribe to Nurse Leader Insider!

This week, KT Waxman, DNP, MBA, RN, CNL, shares how nurse leaders can prepare before presenting their budget to senior leaders.

Q: How can I prepare myself before presenting my budget plan to a supervisor?

A: You will most likely be asked whether your unit met its goals and objectives from the previous year. Know the answer to this question and explain the current status of goals and objectives and the changes you plan on making.

Look at the numbers for the year-to-date (YTD) current budget. The committee will want to know whether the YTD or actual numbers are above or below what you budgeted. Be able to explain the variances.

Monitor your budget monthly to spot trends and variances early. This will enable you to stop problems in their path and know where opportunities lie.

Editor's note: Do you have a question for our experts? E-mail your queries to Editor Rebecca Hendren at rhendren@hcpro.com and see your name in print! In the meantime, head over to our Web site and view a growing collection of advice from our experts.



Want to receive articles like this one in your inbox? Subscribe to Nurse Leader Insider!

Most Popular