Developing a Statistical Budget and Revenue Budget for FY 2024 Introduction: In order to effectively manage a healthcare organization, it is essential to develop a comprehensive budget that takes into account both revenue and expenses. This assignment will focus on developing a statistical budget

After reading the case, complete step 14.
14) For FY 2024: Develop a statistical budget. Develop a revenue budget after deciding whether a rate increase will bring more money to the bottom line. [See appendix 9.1 in chapter 9.] Develop the following four expense budgets in statement of operations format, including detailed footnotes explaining any changes in the numbers:
(1) Increase expenses the maximum requested after adjusting variable expenses based on the statistical budget (use inpatient day equivalents [discussed in appendix 1.3 in chapter 1] to determine the percent increase or decrease in volumes) and based on the anticipated inflation rate of 5 percent.
(2) Maintain expenses at FY 2023 levels after adjusting variable expenses based on the statistical budget and based on the inflation rate of 5 percent.
(3) Reduce expenses from Budget 2 to break even in FY 2024.
(4) Reduce expenses from Budget 2 to not only break even in FY 2024 but also to recover FY 2023 losses.
Nowicki, Michael. Introduction to the Financial Management of Healthcare Organizations, Ninth Edition (pp. 511-512).
I have also attached the Excel spreadsheet for the work completed in the previous steps.
Thank you!