Resource: Preopening Budget Example located on the student websiteDesign 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 BudgetThe 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 ExplanationWrite 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: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?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.Submit your assignment as Microsoft® Excel® and Microsoft® Word attachments.
preopening_budget_example.xls
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University of Phoenix Material
Sample Strategic Planning Spreadsheet
Diagnostic Imaging
Purchase &
Install
MRI
Revenue
Year 1
Hire & Train
Staff
Year 2
Year 3
CT
MRIs
General diagnostic
Interventional
$2,000,000
$8,000,000
$6,000,000
$12,000,000
$2,200,000
$8,800,000
$6,600,000
$13,200,000
$2,420,000
$9,680,000
$7,260,000
$14,520,000
Total revenue
$28,000,000
$30,800,000
$33,880,000
Salaries
Supplies
Travel
Maintenance
Contracts
Marketing
Miscellaneous
$18,200,000
$4,200,000
$140,000
$280,000
$560,000
$140,000
$280,000
$20,020,000
$4,410,000
$154,000
$308,000
$616,000
$154,000
$308,000
$22,022,000
$4,630,500
$169,400
$338,800
$677,600
$169,400
$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
Expenses
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
Increase in salaries/year
Increase in supply expense/year
Travel as a % of revenue
Maintenace as a % revenue
Contracts as a % of revenue
Marketing as a % of revenue
Misc as a % of revenue
Salaries as a % of revenue
10.00%
4.00%
5.00%
0.50%
1.00%
2.00%
0.50%
1.00%
65.00%
…
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