You have been a nurse manager for 2 months and are told that the budget process will begin. You ask for information about the process. What would you be told? Select all that apply
1. The CNO and the CFO are responsible for the nursing department budget.
2. The budget is prepared and submitted to the CEO.
3. Your role is to act as a reviewer of the nursing department budget.
4. Budgeting requires compromises during the process.
5. Annual budgets are developed in a short-time period, such as a month.
1, 2, 4
Explanation: 1. The CNO is responsible for the nursing department budget development with help from the CFO.
2. Ultimately the CEO must review and approve the total budget.
3. Your role is to prepare a budget for your unit, which becomes part of the nursing department budget.
4. Budgeting requires compromises during the process as not everyone will get what they want.
5. Developing the budget takes time, and has many levels of participation and drafts.
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