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This assignment provides learners with the opportunity to apply budgeting knowledge and skills by calculating full-time equivalents for a nursing unit, projecting FTE needs related to census changes, and analyzing a variance scenario. Week 4: Staffing Budgets/FTEs/Variance Analysis Agreement V2 (Links to an external site.) This assignment provides learners with the opportunity to apply budgeting knowledge and skills by calculating full-time equivalents for a nursing unit, projecting FTE needs related to census changes, and analyzing a variance scenario. Due Date: Sunday 11:59 p.m. MT at the end of Week 4 Total Points Possible: 150 Requirements Description of the Assignment This assignment is in two scenario-based sections each related to staffing budgets. In the first, the student will perform multistep calculations of FTEs and projection of future FTE needs for a selected nursing unit. The second section involves calculation of budget variance and its analysis. Each section requires supported written interpretation of findings. Criteria for Content Answer the questions and complete the calculations required for the two sections of the assignment. Key points related to Calculations: 1. When performing calculations, standard rounding rules apply. If the number to the right of the decimal is less than 5, round down to the nearest whole number, e.g., 33.4 = 33 If the number to the right of the decimal is 5 or greater, round up to the nearest whole number, e.g. 33.5 =34. 2. Read the question carefully. Pay close attention to the units be asked and keep them consistent. For example, hours vs FTEs; days vs months vs years. 3. Provide ALL formulas with references. Designate which formula associates with which source. It is not sufficient to simply list the source at the beginning of the section. Write out the formula used BEFORE filling in the numbers. Example: Efficiency Variance + Volume Variance + Cost Variance = Total Variance Rundio, A. (2022). The nurse manager’s guide to budgeting and finance (3rd ed.). Sigma Theta Tau International. Section One: Staffing Budget and FTEs Calculations of full-time equivalents (FTEs) Project FTE needs related to census changes Section Two: Variance Analysis Calculating variance Variance analysis with explanation Download the Assignment Word Document and submit your answers directly onto the form. When completed, upload into the assignment portal in your course. For the questions requiring a written response, please adhere to proper grammar and syntax, and provide references. For the questions requiring calculations, show all your work including the formula used. Include the references for formula chosen. Preparing the Assignment Section One—Staffing Budget and FTEs Personnel Budget Case Study Sandra Chambers has recently accepted the position of assistant administrator for the department of nursing at Potter Regional Medical Center where she will oversee the operations of five medical units. As she evaluates the budgets for the different cost centers, she finds that all are being used at near or full capacity. The activity in four of the five has remained steady over the past 2 years. A fifth unit has realized a steady increase in patient volume during that time and is currently at 88% capacity. It has been projected that within the next 12 months the volume of patients moving through that unit will increase by 20%. Sandra needs to determine if the current FTEs for the unit will be sufficient to ensure quality and safe care continues to be provided, and if not, what is the number of FTEs that will be needed to cover a 20% increase in volume. Suggest all the information Sandra needs to collect in order to project the FTEs needed for the next fiscal year accounting for the projected increased capacity. Remember, she is new to her position so be sure to include background data on the unit itself as it relates to previous budgets, nursing staff, and the organization. In other words, summarize your approach to this Case Study. Sandra has collected the following census information on all five units for the last month, in addition to what was asked in question number one. Calculate the ADC and Occupancy Rate for each unit using the Daily Census/Occupancy Rate table to determine which unit is currently at 88% occupancy rate and projected to increase over the next year. Unit Beds 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 A 35 31 30 31 30 29 30 31 30 31 29 29 32 31 33 31 31 33 34 34 34 34 32 30 32 31 B 15 15 14 11 9 7 12 12 15 13 13 16 15 15 15 16 16 15 14 15 16 15 13 13 17 16 C 13 10 12 11 11 11 13 13 13 12 13 12 12 12 13 13 13 13 13 13 13 13 13 13 12 12 D 32 30 27 27 24 26 23 27 29 28 28 25 27 30 26 31 31 30 30 30 32 32 32 26 25 25 E 6 6 3 3 3 3 5 5 5 2 2 2 2 4 4 3 3 0 0 0 6 5 5 3 3 3 (adapted from…..Healthcare Financial Management Association (2012). Managing fiscal resources: A budget and productivity case study. Retrieved from hfmamd.org Average Daily Census/Occupancy Rate Unit ADC Occupancy (%) A B C D E The Unit with an 88% occupancy rate is _____. 3. Using data contained in the first questions, complete the table below and determine the Average Length of Stay (ALOS) for the following three units. Show your work. Unit # Beds Patient Days # Discharges Average Length of Stay (ALOS) A 110 C 96 D 85 What is the ALOS for the unit you identified earlier at an 88% occupancy rate? _____ You have determined the Unit for which Sandra must make FTE projections. For the remaining questions in this section, refer to the figures used and or obtained related to the Unit identified in Question 1. Additional information includes the budgeted hours of care per patient day (HPPD-budgeted) is 7.5; and each employee receives 300 paid non-productive hours/year. Due Date: Sunday 11:59 p.m. MT at the end of Week 4 Students are given the opportunity to request an extension on assignments for emergent situations. Supporting documentation must be submitted to the assigned faculty. If the student’s request is not approved, the assignment is graded and a late penalty is applied as follows: Monday = 10% of total possible point reduction Tuesday = 20% of total possible point reduction Wednesday = 30% of total possible point reduction If the student’s request is approved, the student will be informed of the revised due date. Should the student fail to meet the revised due date, the assignment is graded and a late penalty is applied as follows: Monday = 10% of total possible point reduction Tuesday = 20% of total possible point reduction Wednesday = 30% of total possible point reduction Total Points Possible: 150 Requirements Description of the Assignment This assignment is in two scenario-based sections each related to staffing budgets. In the first, the student will perform multistep calculations of FTEs and projection of future FTE needs for a selected nursing unit. The second section involves calculation of budget variance and its analysis. Each section requires supported written interpretation of findings. Criteria for Content Answer the questions and complete the calculations required for the two sections of the assignment. Key points related to Calculations: When performing calculations, standard rounding rules apply. If the number to the right of the decimal is less than 5, round down to the nearest whole number, e.g., 33.4 = 33 If the number to the right of the decimal is 5 or greater, round up to the nearest whole number, e.g. 33.5 =34. Read the question carefully. Pay close attention to the units be asked and keep them consistent. For example, hours vs FTEs; days vs months vs years. Provide ALL formulas with references. Designate which formula associates with which source. It is not sufficient to simply list the source at the beginning of the section. Write out the formula used BEFORE filling in the numbers. Example: Efficiency Variance + Volume Variance + Cost Variance = Total Variance Rundio, A. (2022). The nurse manager’s guide to budgeting and finance. (3rd ed.). Sigma Theta Tau International. Section One: Staffing Budget and FTEs Calculations of full-time equivalents (FTEs) Project FTE needs related to census changes Section Two: Variance Analysis Calculating variance Variance analysis with explanation Download the Assignment Word Document and submit your answers directly onto the form. When completed, upload into the assignment portal in your course. For the questions requiring a written response, please adhere to proper grammar and syntax, and provide references. For the questions requiring calculations, show all your work including the formula used. Include the references for formula chosen. Rubric Week 4: Staffing Budget and FTEs and Variance Analysis (NOV18) Criteria Ratings Pts This criterion is linked to a Learning OutcomeBackground Information 10 pts Approach to Personnel Case Study is clearly articulated and contains all the elements needed to address the situation presented in the scenario. 8 pts Approach to Personnel Case Study is generally described and contains nearly all elements needed to address the situation presented in the scenario. 6 pts Approach to Personnel Case Study is minimally described, generally stated and missing key elements needed to address the situation presented in the scenario. 0 pts Approach to Personnel Case Study is absent or does not contain adequate elements to all the elements needed to address the situation presented in the scenario. 10 pts This criterion is linked to a Learning OutcomeADC and Occupancy Rate 10 pts Table completed with formulas referenced and shown, work shown with correct calculations, and correct unit identified. 8 pts All but one element are present and correct. 3 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 10 pts This criterion is linked to a Learning OutcomeAverage Length of Stay (ALOS) 10 pts ALOS table completed with formulas referenced and shown, work shown with correct calculations, ALOS of identified unit correct. 8 pts All but one element are present and correct. 3 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 10 pts This criterion is linked to a Learning OutcomeCurrent FTE 15 pts Current FTEs of identified unit calculated correctly and includes reference for formulas used, formula and work shown, calculations correct. 10 pts All but one element are present and correct. 5 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 15 pts This criterion is linked to a Learning OutcomeTotal FTE (Accounts for nonproductive time-current) 15 pts Total FTEs (accounts for nonproductive time) of identified unit calculated correctly and includes reference for formulas used, formula and work shown, calculations correct. 10 pts All but one element are present and correct. 5 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 15 pts This criterion is linked to a Learning OutcomeEffect of Volume Increase on FTE 10 pts Describes effect of increase of patient volume on FTEs over the next year. Describes what effect an increased length of stay would have on FTEs. 5 pts Only one element present or is answered correctly. 0 pts Both elements are missing or no elements are answered correctly. 10 pts This criterion is linked to a Learning OutcomeTotal FTE (Projected) 15 pts Total FTEs (accounts for nonproductive time) for projected volume increase of identified unit calculated correctly and includes reference for formulas used, formula and work shown, calculations correct. 10 pts All but one element are present and correct. 5 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 15 pts This criterion is linked to a Learning OutcomeFTE Difference Explanation 10 pts Explains potential causes for being under budget and explicitly describes its effect on the budget request for next year. Uses data from given and calculated elements to support explanations. 8 pts All but one element are present and correct. 3 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 10 pts This criterion is linked to a Learning OutcomePersonnel Budget table 5 pts Table completed with correct calculations. 0 pts Table incomplete or complete with incorrect calculations. 5 pts This criterion is linked to a Learning OutcomeVolume (Efficiency) Variance Calculated 10 pts Calculated correctly and includes reference for formulas used, formula and work shown, calculations correct. 8 pts All but one element are present and correct. 3 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 10 pts This criterion is linked to a Learning OutcomeVolume Quantity Variance Calculated 10 pts Calculated correctly and includes reference for formulas used, formula and work shown, calculations correct. 8 pts All but one element are present and correct. 3 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 10 pts This criterion is linked to a Learning OutcomeCost (price) Variance calculated 10 pts Calculated correctly and includes reference for formulas used, formula and work shown, calculations correct. 8 pts All but one element are present and correct. 3 pts All but two elements are present and correct. 0 pts No elements are present or they are present and incorrect. 10 pts This criterion is linked to a Learning OutcomeCalculation of Total Variance 5 pts Calculation of Total Variance is correct. 0 pts Calculation of Total Variance is incorrect. 5 pts This criterion is linked to a Learning OutcomeAnalysis of Variances 10 pts Analysis of Variances thoroughly explained; variance justification with evidence included; effects on current and future budges explicit and clearly articulated. 8 pts Analysis of Variances generally explained; or variance justification is missing or lacks support from evidence; or effects on current and future budges is missing or generally addressed. 3 pts Analysis of Variances contains only one of the required elements: thorough explanation; variance justification with evidence included; effects on current and future budges explicit and clearly articulated. 0 pts Analysis of variances is missing or is inaccurate. 10 pts This criterion is linked to a Learning OutcomeWriting Conventions, format, and reference citations 5 pts No errors in any of the three elements of writing conventions, format, and reference citations. 3 pts One error in any of the three elements of writing conventions, format, and reference citations. 1 pts Two errors in any of the three elements of writing conventions, format, and reference citations. 0 pts More than three errors in any of the three elements of writing conventions, format, and reference citations. 5 pts This criterion is linked to a Learning OutcomeLate Deductions 0 pts 0 pts lost – submission met deadline 0 pts Student does not meet the deadline for submission 10% per day up to 30% total (3-days) 0 pts Total Points: 150 PreviousNext

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