budg·et [buhj-it] noun, adjective, verb, budg·et·ed, budg·et·ing.
1. an itemized estimate of expected income and expense for a given period in the future.
2. a plan of operations based on such an estimate.
3. an itemized allotment of funds, time, etc., for a given period.
4. the total sum of money set aside or needed for a purpose.
5. a limited stock or supply of something: his budget of goodwill.
If you hear a collective groan around KSB over the next few weeks, it might be our management team. Later this week we begin the budgeting process for 2013.
As sad as this sounds, it’s my favorite time of the year (just behind the first two days of March Madness). I get the opportunity to spend time with each Director and listen to their accomplishments over the last year and their vision of growth for the next year.
We move forward as an organization towards our Top 100 Hospital goal by improving every encounter, every day. The budgeting process is the second step in this plan for organizational growth. The first is our strategic plan, which you’ll hear more details about in the upcoming Employee Forums.
Where are we going and how do we get there? Budgeting is not only about dollars. It’s about how we maximize all of our scarce resources to restore, maintain and enhance health … one encounter at a time.