/depts/,/depts/uwhealth/,/depts/uwhealth/budget-and-financial-analysis/,

/depts/uwhealth/budget-and-financial-analysis/

20170253

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UWHC,UWMF,

Business,Organizational Services,

Departments & Programs,UW Health

Budget and Financial Analysis

Budget and Financial Analysis - Departments & Programs, UW Health

The Budget and Financial Analysis department is made up of three teams. The Budget, Revenue and Deposits teams work together to assure a thorough budgeting and financial analysis process for UWMF.


Focus

Budget Team

The Budget Team establishes and implements budget procedures, incorporating Executive Managements’ directions. The Team organizes and conducts budget training and orientation sessions for 85 UWMF Managers who prepare budgets for 720 cost centers. Members of the Team assist Managers with budget preparation by answering questions and providing additional data. They are also responsible for training new Managers on UWMF’s budget process and maintaining budget software (FRx Forecaster). The Budget Team compiles submitted budgets, reviews the information, and ensures that guidelines have been met and that significant changes from prior activity are valid. From this information, they create reports that summarize budget data for Finance Committee, Board and Management’s review. They then communicate changes to the rest of the Finance Department so that actual expense and revenue data is recorded in the general ledger accordingly. The Team adjusts budgets throughout year to reflect reorganizations and transfers of central accounts. The Team also works with HR staff to verify cost centers used with payroll.

Revenue Team

The Revenue Team looks at charges and revenue from all systems (IDX and EPIC) on a monthly basis by payors, departments, divisions, sites, etc. The Team prepares revenue for posting to the General Ledger each month to meet the Funds Flow Model by applying the P/A/T%s and re-mapping data. The Revenue Team prepares monthly graphs (Charges and Payments), overall and departmental charge/payment worksheets and graphs that are presented to the Finance Committee and the Board. The Team reconciles UWMF monthly receipts to the amount posted by PBS and prepares initial revenue projections for the budget process by compiling historical data and looking at forecasts of inflation, fee (charge) increase and growth in the capitation and other payors’ contracts between various departments and the two Divisions. The Revenue Team also responds to other revenue requests from various areas of the organization.

FAQ

I am not receiving the correct monthly actual-to-budget reports. Who should I contact?

A. You may contact any member of the Budget and Financial Analysis Team or Kevin Snell at 

Related

Deposits

Finance

Financial Reporting and Treasury

Payroll

Risk Management, Accounts Payable and Deposits