Posted: July 7th, 2022
2 pages full word Due on Wednesday
its an EMS class
here the instruction :
You are the Executive Director of MetroStar Ambulance (MSA) and you have recently worked up your Revenues and Expenses projections for the next five years, based on the new Federal Regulations on reimbursement schedules. You manage 76 paramedics and 32 EMTs. At last night’s Board Meeting, the Chief Financial Officer (CFO) made dire predictions about the fiscal status of the organization. She predicted a 5% net loss to the operating budget of MSA for the next Fiscal Year (July 1, 2014, to June 30, 2015). She said that the organization should be able to meet the budget projections for the next Fiscal Year. Her projections are for a budget deficit of 4% in FY 2015-2016, if the current projections remain unchanged. She advised the Board that the organization should be prepared to file for Chapter 13 “Bankruptcy” in FY 2018 if corrective actions are not taken. She recommended starting immediately by planning on reducing budgeted expenses during the next 2014-2015 fiscal year.
The Board of Directors has charged you, as Chief Executive Officer (CEO), to take the necessary actions, make the necessary financial adjustments, and recommend any major strategic approaches that are necessary to meet the new fiscal realities. The current “pretend sample” MSA fiscal budget is attached here.***(its the downloaded file)***
After you pull out your projected budget for next year and review it, you begin to form strategies for how you will address the fiscal challenges that MSA is facing. Here are some of the strategies that you might consider:
What actions do you take immediately? What fiscal strategies do you propose to your Board of Directors? How do you communicate this situation to all the staff (management, clerical, and field responders)?
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