Operational budgets

Effective and well planned maintenance can reduce the operating cost of your pumps and other ec]uipment as this example demonstrates. With differential pressure gauges on the pump, an amp meter and flow meter you can determine if strict tolerance parts arc worn. This indicates the need to take the pump into the shop for corrective procedures. If you don t do it, you are wasting your annual operating budget. As we mentioned in Chapter 6, the Wear Rings should be called Efficiency Rings. Now you know why. 

Customer Service and Service Contracts It is important to choose a vendor that has a good customer service track record. Contact other laboratory directors and supervisors to ascertain their experience with the vendors that service their laboratories. Also, the cost of a service contract will need to be factored into the laboratory operating budget after the acquisition of an automated staining platform. 

Determine financial needs Identify sources of capital Develop operating budgets Invest profits Manage assets Economics... 

Describe the similarities and differences in the operational budgets prepared by pharmaceutical manufacturers, health system pharmacies offering value-added services, community pharmacies selling merchandise, and nonprofit pharmacy organizations. 

Based on the sales budget, a pharmacy organization develops a set of operational budgets that specify how its operations will be carried out to meet the demand for its goods or services. The budgets constituting this operational portion of the master budget are illustrated in Fig. 18-1. 

Summary of Operational Budgets Operational budgets differ because they are adapted to the operations of individual pharmacies in various industries. However, operational budgets are also similar in important ways. In each pharmacy, they encompass a detailed plan for using the basic factors of production—material, labor, and overhead—to produce a product and/or provide a service. 

The study should describe the goals of the project, its impact on present operations, budget restraints, tentative schedule, and path forward. It will serve as the basis for front-end planning and will provide the standard against which the success of the program is measured. 

Operating budget. Presents a pharmacy s anticipated revenues and expenses. In addihon to the cash budget, a sales expense budget provides a vital degree of management control. 

A major focus in the center has been the development of a Characterization Eacility that currently contains over 7 million of high-level research instrumentation. This facility has become a major research resource for the university and was used last year by 400 university and faculty personnel and by 120 companies. The aimual operating budget of the facility is 700,000 and is obtained from instrument-user fees. These funds cover the salaries of the facility personnel and service contracts on the equipment. 

The U. S. taxpayers have an enormous investment in Federally funded research and development (R D). The latest report on federal laboratories (i ) states that there are almost 800 R D laboratories and centers located throughout the nation. These employed, in fiscal year 1977, more than 2 0,000 personnel with an operating budget of almost 8 billion. In addition, extramural research contracts amounted to over 7.5 billion. This investment in the federal R D establishment can be viewed as a storehouse of ideas, hardware, facilities, equipment, processes, capabilities, experience, and individual expertise. These "technologies" may be of use to industry in the form of new products, product or process improvements, technical advice, or state-of-the-art information concerning on-going research projects. 

Sustaining the Agency knowledge base through communication of decisions and lessons learned Assessment of launch readiness from the standpoint of safe and reliable flight and operations Budget and resource requirements definition Maintaining competence... 

The lack of availability of capital. Because of the extreme difGculties encountered in trying to obtain a bank loan, the decision was made to finance the entire project from CPM s operating budget. 

Key operational components of an information technology plan include provision for maintenance of current systems. Software maintenance costs alone can typically run from 18 to 22 percent of software list prices and the qualified human resources necessary to support installed systems. Typically, information technologies in health care systems are either undeiihinded or place an unreasonable emphasis on administrative systems. An allocation of iq) to 6 percent of the annual operating budget for information systems is not unrealistic. A summary of contemporary infoimation systems is included in the Table 37.3. 

An engaged and stable workforce contributes to safety and reduces the costs of turnover and declining productivity. A safe organization builds confidence and enhances its reputation in a way that can be translated into loyalty and market share. However, there is an investment required. Designating an operating budget to support patient safety and funding applied research are leadership roles. 

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