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Proposed 2019 Budget November 29, 2018

A balanced budget for 2019 showcasing the risks, opportunities, and key assumptions of the Washburn Center for Children. It includes information on revenue, referrals, sustainability plan, cash projections, billable FTE, development revenue, salary and benefit expenses, and non-salary expenses.

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Proposed 2019 Budget November 29, 2018

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  1. Proposed 2019 Budget November 29, 2018 Proprietary and confidential information of Washburn Center for Children

  2. High Level Overview We have created a balanced budget for 2019

  3. 2019 BudgetRisks and Opportunities • Recruiting clinical staff • 3 FTE +/- is $330,000 in FFS Revenue, adding 10.25 FTE • LOC • Currently at $1.05M (4.875%) • Budgeting $45,832 in interest • Sustainability Plan & Campaign Timelines • Remaining $4M of pledges needed • Referrals & Productivity • Budgeting at 100% productivity for 69,055 services. • Cash

  4. Cash Projections 2019

  5. 2019 BudgetKey Assumptions Contracts and Grants Revenue: • Contracts and Grants scheduled to increase $663,721 from 2018 budget. • Sustainability Plan – Release from restriction $697,464 • Contracts - Increased by$250,000 (Allina, Lionsgate, etc.) • Guaranteed contract, share FFS with partners • Decreased Revenue - United Health Foundation Grant, United Way, School Based Government Grants and Special Projects Fee-For-Service Revenue (FFS): • Fee-For-Service Revenue increases 5% or $603,185 over 2018 Budget Rates • Reimbursement rates are based on actual rates YTD as of 10/31/2018

  6. 2019 BudgetKey Assumptions Billable FTE: • Increase in 10.25 billable FTE • Proactive Hiring concept within Programs – not budgeted • Development goal increases to $1.6M from $1.485M in 2018 budget • Margin improves from 514k to 756k Development Revenue: Endowment Draw: • $330,727 draw for 2019, an increase of $30,727 increase from 2018 budget. • Endowment is supporting the following during 2019; • Professional Development for all staff ($6,300) • HR Recruitment, Training, Onboarding & Compensation ($134,427) • EDI Training, Consultants, Pathways Fellows, Community Engagement ($190,000)

  7. 2019 BudgetKey Assumptions Salary and Benefit Expense: • Salary expense increases 9.2% or $997,478 over 2018 Budget • The majority of this is tied to Sustainability Plan positions and FTE • Salary increases are budgeted at 3% • Incentives for Clinicians are budgeted at $65,000 • Clinician FTE increases by 10.25 during 2019 • 403B employer match remains at 2% for 2019 • No Group Medical increases (0.0%) • Expendables increase 11.8% or $341,133 over 2018 Budget • Primary increase areas: • Sustainability Project integration into Operating Budget • Pathways Program for D&I • Line of Credit interest expense • Depreciation of IT equipment Non-Salary Expense:

  8. Sustainability Plan 2019 There are 5 main areas; • Campaign • Receive pledges for $1.625M pledges of the remaining $4M project total • EHR • Capital Purchase, implementation, Roll-out • Human Resources • Compensation Model, Competency Model, Hiring • Technology • Windows 10, Computer replacement, server replacement, purchasing equipment for new staff • Site #4 Selection

  9. Sustainability Timeline

  10. Cash Projections – Sustainability Project

  11. Updated Projection 11.28.18

  12. Next Steps

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