SAMPLE POLICY WORK

• Review and provide final approval for the consolidated budget proposal. • Monitor overall budget performance and approve mid ‑ year revision requests when necessary. • Ensure regulatory guidelines and funding requirements from TennCare and other agencies are fully met.

Quality Assurance and Compliance Teams:

• Audit budget performance to ensure adherence to approved financial plans. • Review variance analyses and recommend corrective actions. • Ensure that all budgeting activities align with regulatory requirements. • Oversee that internal controls are in place to prevent misuse or misallocation of funds.

Procedural Guidance for Budget Monitoring 1. Monthly Financial Review:

– The Finance Department generates monthly financial statements that compare actual expenditures and revenues to budgeted amounts. – Department heads receive these reports during monthly meetings and review any discrepancies with their teams. – Digital dashboards track real ‑ time budget data and alert supervisors when major variances exceed a predetermined threshold. 2. Variance Analysis Meetings: – Specific meetings are held quarterly to analyze significant budget variances. – During these meetings, the Finance Department and department heads utilize standardized variance analysis templates that highlight deviations, investigate their causes (such as service volume changes or unexpected expenditures), and propose corrective actions.

Mid ‑ Year Budget Forecasts:

– Should variances indicate systemic issues or if there are major operational changes, department heads submit revised forecast requests. – The revised forecast must detail the adjustments needed, with supporting documentation and justification. – The Finance Department reviews these forecasts, and if recommendations exceed 10% of the original budget, the matter is escalated to executive leadership for approval. 4. Budget Reconciliation Audits:

– Internal audits of budget reconciliations are performed quarterly by the Quality Assurance team.