Summary
This document is a checklist designed for budgeting in senior living environments. It outlines essential questions to consider before finalizing a budget plan, emphasizing the need for preparation against operational volatility, labor pressures, and changing demand. The checklist includes sections on occupancy and revenue assumptions, labor planning, expense assumptions, capital and strategic initiatives, cash flow and risk management, and reporting and governance. Each section poses critical questions aimed at ensuring that the budget is grounded in realistic scenarios and adaptable to changing conditions. The final question prompts users to consider whether their budget is a static document or a dynamic financial model that evolves with their communities. The checklist serves as a tool to pressure-test budgets before approval, ensuring comprehensive planning and strategic foresight in financial management.
