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Submitted by msdonata on September 16, 2006
Category: Business
Words: 987 | Pages: 4
Views: 175
Popularity Rank: 60,609
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Business owners, managers and administrators all have to make tough decisions when it comes to cutting business costs. Often these cuts in budgets can jeopardize service, so the key is to make the cuts in areas that will allow the business to continue to function and provide needed services. When considering these costs a distinction must be made between committed costs and discretionary costs. Committed costs include mortgage or lease payments, investment payments and long-term debt, property taxes, insurance and salaries of people key to the business. Discretionary costs include items like advertising and promotion costs, public relations, research and development costs, charitable donations, employee training programs, and consulting services (Horngren, Sundem & Stratton, 2005).
Dr. White, Chief Administrator of the Uptown Clinic has to plan for reduced budgets and must identify costs that can be cut and still allow the agency to function. Worst case analysis would require major cuts in the area of $94,000 with best case analysis requiring minor cuts of around $35,000. An adequate range of costs to reduce the budget would be between $35, 000 and $94,000. The next page includes a table indicating suggested budget cuts.
The budget shown here reflects minor budget cuts to some services and major cuts to salaries and services for Uptown Clinic. Under this budget no changes were made to salaries of key personnel. The first set of minor changes would not impact service to clients, but would require staff to do without some luxuries they had been used to. First supplies would have to be cut by $15,000. This would include office supplies for secretarial and other staff. The clinic could save money by purchasing less or cheaper copy paper, cheaper pens, paperclips, staplers, staples etc. The list could go on. Whatever is being included in these supplies will have to be reduced by $15,000. Obviously they purchased expensive...
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