WEEK 4: STAFFING BUDGETS/FTES/ VARIANCE ANALYSIS
ASSIGNMENT GUIDELINES WITH SCORING RUBRIC Q & A
Week 4: Staffing Budgets/FTEs/ Variance Analysis Assignment Guidelines
with Scoring Rubric
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.
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
,WEEK 4: STAFFING BUDGETS/FTES/ VARIANCE ANALYSIS
ASSIGNMENT GUIDELINES WITH SCORING RUBRIC Q & A
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.
2
, WEEK 4: STAFFING BUDGETS/FTES/ VARIANCE ANALYSIS
ASSIGNMENT GUIDELINES WITH SCORING RUBRIC Q & A
Example: Efficiency Variance + Volume Variance + Cost Variance = Total Variance
Rundio, A. (2016). The nurse manager’s guide to budgeting and finance. 2nd. Ed.,
Indianapolis, IN: Sigma Theta Tau International.
• Section One: Staffing Budget and FTEs
o Calculations of full-time equivalents (FTEs)
o Project FTE needs related to census changes
• Section Two: Variance Analysis
o Calculating variance
o 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
3
ASSIGNMENT GUIDELINES WITH SCORING RUBRIC Q & A
Week 4: Staffing Budgets/FTEs/ Variance Analysis Assignment Guidelines
with Scoring Rubric
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.
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
,WEEK 4: STAFFING BUDGETS/FTES/ VARIANCE ANALYSIS
ASSIGNMENT GUIDELINES WITH SCORING RUBRIC Q & A
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.
2
, WEEK 4: STAFFING BUDGETS/FTES/ VARIANCE ANALYSIS
ASSIGNMENT GUIDELINES WITH SCORING RUBRIC Q & A
Example: Efficiency Variance + Volume Variance + Cost Variance = Total Variance
Rundio, A. (2016). The nurse manager’s guide to budgeting and finance. 2nd. Ed.,
Indianapolis, IN: Sigma Theta Tau International.
• Section One: Staffing Budget and FTEs
o Calculations of full-time equivalents (FTEs)
o Project FTE needs related to census changes
• Section Two: Variance Analysis
o Calculating variance
o 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
3
