BOC Flashcards
Vision statement
Statement that describes the ideal state which an organization aspires
Licensure
Limits athletic training to those who met minimal requirements established by state board
Registration
Paid fee for being placed on an existing list of practitioners
Spending-reduction model
Financial crisis; requires reallocation of institutional funds, resulting in reduced spending levels for some programs
Zero-based budgeting
Budget line item without reference to previous spending patterns
Fixed budgeting
Expenditures and revenues are projected on a monthly basis
Lump sum budgeting
Fixed amount of money for an entire program without specifying how the money will be spend; give freedom to spend where it is needed most.
Expendable
Cannot be reused (tape, bandages, hydrogen peroxide)
No expendable
Can be reused (compression wraps, scissors)
Non consumable
Usually not removed from athletic training facility( ice machine, tx table)
Consumable capital
Crutches, coolers, and kits
What is the spending-reduction model?
A financial crisis model that requires reallocation of institutional funds, resulting in reduced spending levels for some programs
It should identify areas that could be cut without serious impact.
Define zero-based budgeting.
Requires justification for every budget line item without reference to previous spending patterns
It requires documentation of actual program needs and the development of priorities.
What is fixed budgeting?
Expenditures and revenues are projected on a monthly basis, providing an estimate of cash flow
Most appropriate for large, well-established sports medicine clinics during economic certainty.
What does variable budgeting entail?
Requires adjustment of monthly expenditures so that they do not exceed revenues
Rarely used by school-based programs due to the difficulty in estimating costs in advance.
Describe lump sum budgeting.
Allocates a fixed amount of money for an entire program without specifying how the money will be spent
This gives freedom to spend where it is needed most.
What is line item budgeting?
Allocates a fixed amount of money for each subfunction of a program
It includes areas such as expendable supplies, equipment repair, team physician services, and insurance.
What is performance budgeting?
Allocates funds for discrete activities
Not commonly used due to expense and difficulty of analyzing specific activity costs.
What are the phases of needs assessment?
- Exploration
- Information gathering
- Decision making
Each phase focuses on different aspects of identifying and prioritizing needs.
What is included in capital improvements planning?
Consider pooled buying for quantity discounts, tap into booster clubs, alumni, and fundraising groups, sponsorships and endorsements
These strategies help in securing necessary funds and resources.
What are expendable supplies?
Supplies that cannot be reused, such as tape, bandages, and hydrogen peroxide
They are essential for daily operations but need to be regularly restocked.
What are nonexpendable supplies?
Supplies that can be reused, such as compression wraps, scissors, and neoprene sleeves
These items are more durable and used over a longer period.
Define nonconsumable capital.
Items usually not removed from the athletic training facility, such as ice machines and modality units
They represent significant investments for long-term use.
What is the purchasing process’s first step?
Request for Quotation
This document provides vendors with specifications for bidding on goods and services.
