FINANCIAL PERFORMANCE SUMMARY 3
Theprimary mission of the United States Department of Health and HumanServices is keeping Americans safe by administering effective healthand human services programs. The 2013 financial summary indicatesthat the department attained an overall 89 % growth in strengtheninghealth care. Strengthening healthcare is in tandem with the missionof the Department as well as being the number one goal of thedepartment as per the strategic plan for the period 2010 – 2015. Theremainder of the objectives of the department such asGoal numbertwo, three, four and five scored 3%, 6%, 2% and 1% respectively(Ross, 2005).
TheDepartment obtains most of its financing through congressionalappropriations and from reimbursements after food delivery togovernment agencies. The statement of income indicates that the netcost for the department totalled to 896.3 Billion (Rees, 2005).
Thefinancial position, as expressed in the balance sheet of the HealthDepartment decreased by 15.95 % – represented by the net position onthe balance sheet. Overall, the statements indicate that thedepartment’s total assets shrank by 11.4%. The greatest decreasewas in the fund balances with Treasury at 38.1% however, otherassets recorded an increase of 2.3 %. The liabilities increased by8%, specifically, the other liabilities increased by 20.5% whileaccrued grant liabilities only risen by 5.4% (Bodie, 2000).
Insummary, the management also expressed some of the challenges thatthey have faced in the achievement of the Organizations goals. Theyinclude the problem to oversee the health insurance marketplaces.Others include the challenge to transition to value-based paymentsfor health care. The management also indicated the problem faced bythe department to protect the integrity and in expanding the Medicaidprogram (Groppelli, 2000).
Rees,Bill. FinancialAnalysis.London: Prentice Hall, 2005. Print.
Sweeney,S. (2002). Finance.Harlow: Pearson Education.
Ross,S., Westerfield, R., & Jaffe, J. (2005). Corporate finance.Boston: McGraw-Hill/Irwin.
Bodie,Z., & Merton, R. (2000). Finance.Upper Saddle River, NJ: Prentice Hall.
Groppelli,A., & Nikbakht, E. (2000). Finance.Hauppauge, N.Y.: Barron`s.