In order to apply a goal or plan, the organization must develop a budget. It takes strategic planning within an organization such as Cape Fear Valley Health System (CFVHS) to help recognize their goals, activities, and resources necessary to fulfill their overall vision. Fritze states that a budget is the gathering of data for the preparation of anticipated cost and revenue for a future period (2001). Budgeting for CFVHC is crucial for overall supplies and services along with the many different departments that must plan individual budgets because it will raise awareness to reduce economic risks, therefore ensuring survival of an organization (Fritze, 2001). In order to become profitable, it is important to monitor incoming money, but limiting the amount of money being spent will help maintain the stability of the organization.…