A good budget is required each year in order to try to make sure the facility will be profitable again. The administrative team should meet with the department directors monthly to make sure they are staying within their budgets. At our hospital, the CFO works with each director to put together the yearly budget and to work on strategic planning for new equipment and services. We then meet with the Board of Directors, the department directors, and the administrative team to go over our budget and capital budget for the coming year. This gives the Administrative Team their goals for the coming year. I make sure the CFO brings financials to the projects that we embark on. That way they know we are in line with the budget and if we are over we have to tell them why. Class, how does your hospital plan for their budget each year? Explain? Who is involved in the process