A budget is a formal written statement of a hospital’s plan for the future. The

A budget is a formal written statement of a hospital’s plan for the future. The financial budget is a management control tool typically covering a one year period. The essentials of budgeting are to set specific goals for future operations and to have a periodic comparison of actual results with the financial goals established.
Several types of budgets can be adopted, but three which are crucial to any hospital are the operating budget, capital budget, and the static budget.
Write a 2 to 3-paged academic paper covering the following issues:
1) Define operating budget, capital budget and the static budget.
2) Give an example of operating budget, capital budget and the static budget.
3) What budget-related challenges do hospitals face?
4) What factors affect a healthcare budget?
Submit your responses in a 2-3 page MS Word document. Include an introduction, body, and conclusion. Also, provide an APA style references at the end of your paper.
Note: Be sure to cite any source(s). Include in-text citation(s) and reference list. Check your Turnitin similarity score. Adhere to APA writing guidelines (GUIDE: Resources for Support and Other Information Book or APA Resources)