Week 4: Staffing Budgets/FTEs/Variance Analysis Assignment V2 |

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Week 4: Staffing Budgets/FTEs/Variance Analysis Assignment V2

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**Due**Sunday by 11:59pm**Points**150**Submitting**a file upload

**Purpose**

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 V2Links to an external site.

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 managerâ€™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)

Week 4: Staffing Budget and FTEs and Variance Analysis (NOV18)

CriteriaRatingsPts

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