Question: provide a long-term corrective action plan for the following variance report: Operating Revenues Account Description Current Month Actual Current Month Variance Current Month Budget Year-to-Date

provide a long-term corrective action plan for the following variance report:

Operating Revenues

Account Description Current Month Actual Current Month Variance Current Month Budget

Year-to-Date

Actual

Year-to-Date

Variance

Year-to-Date

Budget

Inpatient Revenue $9,691 ($960) $10,651 $96,662 $6,706 $89,956
Ambulatory Surgery 3,219 937 2,282 14,488 844 13,644
Other Patient Revenue 1,085 (326) 1,411 10,874 (672) 11,546
Private Ambulatory 552 6 546 4,958 272 4,686
Total Patient Revenues 14,547 (343) 14,890 126,982 7,150 119,832
Other Revenues 2,659 (560) 3,219 26,000 40 25,960
Investment Income 161 29 132 322 (70) 392
Net Assets Released 252 209 43 957 488 469
Contributions 39 (29) 68 176 (263) 439
Total Revenues 17,658 (694) 18,352 154,437 7,345 147,092

Operating Expenses

Account Description Current Month Actual Current Month Variance Current Month Budget

Year-to-Date

Actual

Year-to-Date

Variance

Year-to-Date

Budget

Salaries and Wages 7,317 (345) 7,662 66,068 1,519 64,549
Employee Benefits 1,723 (180) 1,903 17,069 441 16,628
Supplies 3,809 449 3,360 38,322 3,605 34,717
Medical Fees 254 9 245 2,554 240 2,314
Purchased Services 1,016 37 979 10,219 961 9,258
Energy 285 (54) 339 2,630 (27) 2,657
Insurance 538 (51) 589 4,942 (3) 4,945
Interest 258 (32) 290 2,328 (120) 2,448
Depreciation and Amortization 486 (79) 565 4,103 (984) 5,087
Provision for Bad Debt 554 34 520 5,349 381 4,968
Total Operating Expenses $16,240 ($212) $16,452 $153,584 $6,013 $147,571

Operating Revenues and Operating Expenses Totals

Description Current Month Actual Current Month Variance Current Month Budget

Year-to-Date

Actual

Year-to-Date

Variance

Year-to-Date

Budget

Surplus (Deficits) from Operations $1,418 ($482) $1,900 $853 $1,332 ($479)
Non-Operating Activity (41) 0 (41) 176 (380) 556
Excess of Revenues over Expenses $1,377 ($482) $1,859 $1,029 $952 $77

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