FE003 Budgets and Budgeting
Phillip March 26, 2024 No Comments

FE003 Budgets and Budgeting

FE003 Budgets and Budgeting

Name

 University

NURS 6211 Finance and Economics in Healthcare Delivery

Prof. Name

Date

Expenses/Cost

Year 0

Year 1

Year 2

Year 3

Year 4

Year 5

Grand Total

Start-up Expenses

Start-up expenses $- $- $- $- $- $- $478,485.00
Leadership Development training x40 $217,160 $217,160
Chief Nursing Retention Officer GS-13 $161,200 $161,200
Birthday Fund x957 Staff RN’s $23,925 $23,925
Emotional Intelligence Training x60 RNs $51,600 $51,600
Effective Communication training x60 RNs $24,600 $24,600

Operating Expenses

Birthday Fund x957 Staff RN’s after 1 year of service $23,925.00 $23,975.75 $24,695.02 $25,435.87 $26,198.95 $124,230.59
Chief Nursing Retention Officer GS-13 with 3% cost of living $161,200.00 $166,036.00 $171,017.08 $176,147.59 $181,433.34 $679,685.10
PTO of Birthday x957 RN’s after 1 year of service + cost of living $294,449.76 $303,283.25 $312,381.75 $321,753.20 $331,405.80 $1,563,273.76
New-hire Champions 2K for tuition x15 after 1 year of service $30,000.00 $30,000.00 $30,000.00 $30,000.00 $120,000.00
Chair/Chair-elect 3K after 1 yr. termx14 $42,000.00 $42,000.00 $42,000.00 $42,000.00 $42,000.00 $210,000.00

Total Expenses

$478,485.00 $521,574.76 $565,295.00 $580,093.85 $595,336.67 $434,889.17 $3,175,674.45

Revenue/Savings

Year 0

Year 1

Year 2

Year 3

Year 4

Year 5

Grand Total

Increase retention by 10% yearly (current turnover 12%) $918,720.00 $964,080.00 $974,670.05 $1,022,790.60 $1,053,468.00 $4,933,728.65
New-grad orientation decrease by 0.012% $5,220,000.00 $5,220,000.00 $5,220,000.00 $5,220,000.00 $5,220,000.00 $26,100,000.00
New-hire orientation decrease by 0.012% $1,645,000.00 $1,645,000.00 $1,645,000.00 $1,645,000.00 $1,645,000.00 $8,225,000.00

Total Revenue/Savings

$7,783,720.00 $7,829,080.00 $7,839,670.05 $7,887,790.60 $7,918,468.00 $39,258,728.65

Cash Flow

Year 0

Year 1

Year 2

Year 3

Year 4

Year 5

Grand Total

Cash Flow

($478,485.00) $7,262,145.24 $7,263,785.00 $7,259,576.20 $7,292,453.93 $7,483,578.83 $36,083,054.20

Payback Period

Year

Cash Flow ($)

Net Cash Flow ($)

0 ($478,485.00) ($478,485.00)
1 $7,262,145.24 $6,783,660.24
2 $7,263,785.00 $14,047,445.24
3 $7,259,576.20 $21,307,021.44
4 $7,292,453.93 $28,599,475.37
5 $7,483,578.83 $36,083,054.20