Browsing by Author "Higuera-Vergara, Bibiana"

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    Análisis del impacto de la gestión de cartera en la desarticulación entre la ejecución presupuestal y la ejecución financiera sobre la liquidez y sostenibilidad financiera de la Subred Integrada de Servicios de Salud Centro Oriente durante la vigencia 2025.
    Higuera-Vergara, Bibiana; Zamora-Velandia, Alexander
    This study analyzes the impact of portfolio management on the disconnection between budget execution and cash execution of the Centro Oriente Sub-network during the 2025 fiscal year. The central problem identified is the structural gap between high budget compliance (92.8%) and low actual cash execution of transfers (46.0%), which creates an "illusion" of stability based on the principle of accounting causation without sufficient cash backing. Methodologically, the research adopts a descriptive-analytical quantitative approach through documentary review of institutional reports and financial databases. Theoretically, the research is based on the financial management principles of Zutter and Smart (2021), who emphasize the importance of efficient management of cash flow, working capital, and accounts receivable to maintain adequate liquidity levels. The results reveal that the portfolio amounted to $152,581 million, with a growth of 22.7% and a deterioration of 45%, which highlights critical difficulties in converting accounts receivable into liquidity. Factors such as reliance on payments from EPS (especially from the subsidized regime with 38.4%) and deficiencies in audit processes prevent closing the cash cycle. The study concludes that the financial sustainability of the entity depends on aligning expenditure planning with actual collections, recommending the implementation of cash flow indicators and strategic collection management to mitigate the risk of operational illiquidity.