NSG 6620 Week 7 Assignment 2: 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.

The purpose of this assignment is to assess your progress on the final zero-based operational FTE budget due in Week 10.This assignment provides you the opportunity to self-assess and determine any issues or challenges that need to be resolved prior to completing and submitting the final assignment.

ADDITIONAL DETAILS 

Zero-Based Operational FTE Budget Draft

Introduction

This Zero-Based Operational FTE Budget Draft is intended to provide guidance for a zero-based budget for the upcoming fiscal year. The draft contains data from several sources and provides a general overview of how this information was used in the preparation of this document.

Zero-Based Operational FTE Budget Draft Overview

The Zero-Based Operational FTE Budget Draft provides an overview of the following:

• How the budget is structured, including both financial and nonfinancial information.

• The scope of this report, which includes all projects funded by a department/agencies funding request for Fiscal Year 2019 or that have been approved in prior fiscal years (including those not yet funded).

• A brief description of each project included in this report.

Zero-Based Operational FTE Budget Draft Components

The zero-based budget draft provides the following:

• The total number of FTEs for each department, including those in support roles.

• The total number of FTEs by category (e.g., engineering).

• The total number of FTEs by project and product/service offering (e.g., X product).

This report provides a high-level overview of the operational FTE budget for Fiscal Year 2019. It includes a general description of how the budget is structured, including both financial and nonfinancial information. The scope of this report includes all projects funded by a department/agency funding request for Fiscal Year 2019 or that have been approved in prior fiscal years (including those not yet funded)The total number of FTEs by region (e.g., US East). The total number of FTEs by function (e.g., product management, engineering)..

Zero-Based Operational FTE Budget Draft Data Sources

The Zero-Based Operational FTE (ZBO) budget draft is a living document that evolves over time as data sources are updated and new information becomes available. For this reason, it’s important to keep in mind that the information in this document may not be accurate or up-to-date at any given time.

We’ve chosen these data sources because they represent a wide variety of industry sectors and can provide useful insights into what types of employment costs your organization may incur as an organization grows or shrinks over time.

Takeaway:

As a result of this report, you will be able to:

• Understand the basics of zero-based budgeting and its benefits.

• Know how to create a zero-based operational FTE budget draft.

Conclusion

The next step is to create the budget. This will be done in two steps. First, create the budget outline. Then, create the actual budget by filling in all of the details from this outline.

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