Five Key Aspects of a BudgetBudget is a detailed summary written to decide how an individual or institution will spend its money on a year or for a specific period of time (Wetherbe, Montanari, 2013). Below are some of the key aspects of a budget and how they influence decision making in hospitals and health centers. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Income: Includes health care sales, dividends, interest, and any other type of capital earned from health care. These should be captured when writing a budget to show the total amount of money that healthcare earns annually or over a set period of time. Expenses: All monthly expenses are noted to help your healthcare provider know how much you spend. Unexpected expenses are cut and a fixed monthly variable is set to ensure that healthcare does not spend a lot in areas of no impact. Overhead and Manufacturing: This affects healthcare costs needed to pay for labor, materials, machinery when purchasing a product or service. These are marked as production costs while the rest, such as office supplies, telephones etc., marked as non-production costs. Totals: This is the total amount that shows how an institution is doing monthly and for the year. It includes the total revenue and expenses and helps to know the performance of the company and which area should be improved. Projections: Acts as a predictor. It shows the final results if the same trend continues throughout the year, if income and spending levels are not altered (Wetherbe, Montanari, 2013). Conclusion Healthcare facilities need a budget to ensure they have sufficient funds throughout the year and to do so. Don't run out of money. They should use aspects of the budget to set future goals for the company and follow steps to achieve them.