In the second part of the assessment, you will demonstrate your understanding of the importance of budgets within the context of financial and strategic planning for health care organizations. A comprehensive analysis of the budget consists of your interpretation of the numbers: What are the numbers telling you? Use the readings from your Financial Management for Public, Health, and Not-for-Profit Organizations as well as the independent research you conducted to fully develop a 2–4 page response to the relevant scoring guide criteria:
• Explain why budgets are an important part of the planning process.
o “Explain” means to make something clear to someone by describing it in more detail or revealing relevant facts or ideas.
• Explain the difference between operating, project, and capital budgets.
• Analyze the impact of the budget on the operations of the organization.
o “Analyze” means to examine methodically and in detail the constitution or structure of something , typically for purposes of explanation and interpretation.
• Adhere to the rules of grammar, usage, and mechanics.
o “Grammar” refers to the basic rules for how sentences are constructed and how words combine to make sentences.
