Zero-Based Operational FTE Budget Draft

Zero-Based Operational FTE Budget Draft

Typically, healthcare organizations already have a budget worksheet or spreadsheet for preparing the operational budget. The budget worksheet or spreadsheet contains information identified with an account number or a subcode depicting the cost center. This worksheet or spreadsheet is generally provided when the nurse leader begins to work on the next operational budget. This week, you will begin preparing a zero-based operational FTE budget based on the results of targeted HPPD and the previous year’s average daily census (ADC). For this assignment, you will use the operating worksheet or spreadsheet from the organization in which you are completing your Practicum I experience. Then, you will create a zero-based FTE operational budget for one year. The year may be a calendar year or fiscal year depending on your practicum setting. Week 7 Tasks Begin this assignment by having a discussion with your practicum preceptor. Make sure you complete the following based on your discussion: Select one nursing unit you will use for this assignment. This can be your own nursing unit in your practicum setting. Make sure you have access to the data required to complete this assignment. If the healthcare organization of your practicum setting does not have or will not share its budget worksheet or spreadsheet, then you should create your own worksheet or spreadsheet in a Microsoft Excel format. Then, write a draft budget for the nursing unit (I work in a hospital in Miami Florida). Your final version of the FTE budget, which is due in Week 10, should include all of the components listed below. Prepare a draft of a zero-based operational budget that includes the following based on your selected nursing unit: Operating expenses with subcodes Description of subcodes Prior-year expenses of subcodes Original budget allocations for subcodes Annualized expense for subcodes Budget adjustments for subcodes Approved budget for subcodes Personnel costs for one nursing unit Personnel Costs for One Nursing Unit—Components The nursing personnel budget is based on the total number of hours of care needed, which is determined by patient-acuity levels. Complete the following budget calculations using the information given and add these to the zero-based operational budget as a line item and subcode. Patient-Acuity Levels HPPD (Hours Per Patient Day) 1 4.0 hours 2 6.4 hours 3 10.5 hours 4 16.0 hours The staffing formula is: (Average census x Nursing hours x 1.4 x 1.14) / 7.5 Assignment 2 Grading Criteria Maximum Points Prepared a draft of a zero-based operational budget that includes the listed components based on your selected nursing unit. 15 Presented a structured document free of spelling and grammatical errors. 5 Properly cited sources using APA format. 5 Total: 25 NOTE: You do not need anything from anywhere.

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