Budgeting is done annually based on an organization’s fiscal year. Most nurse managers will be involved in the preparation of operational budgets and some will be involved in the preparation of capital budgets.
Activity #1
Activity #2
Read the following articles to further understand the development of staffing plans as part of the budget process:
- Hunt P.S. (2018). Developing a staffing plan to meet inpatient unit needs. Nursing Management, 49(5), 24. Developing a staffing plan to meet inpatient unit needs
- Hunt, P.S., & Hartman, D. (2018). Meeting the measurements of inpatient staffing productivity. Nursing Management, 49(6), 26. Meeting the measurements of inpatient staffing productivity
Activity #3
Watch this overview on the development of an operating budget.
Video: Developing an Operating Budget (30:46)
Slides: Developing an Operating Budget
Activity #4
Watch this video on creating a capital budget.
Video: Creating a Capital Budget (9:54)
Check Your Understanding
You are the nurse manager for a 10-bed acute care unit and need to develop and cost the staffing plan for the unit. Full-time staff work a 40-hour week (2160 hours per year) and benefits are 35% on top of salary. The staff which is part of your budget, including yourself, are:
You also anticipate that 2 RNs and 2 RPNs will be leaving in the coming fiscal year and you will need to replace them. Each new person will receive three full days of orientation. Using this information, complete the two tables in the linked document and arrive at the final cost for staffing this unit in the next fiscal year.
Note: Do not ‘Request edit access’ to the google doc worksheet below. Please either ‘Make a copy’ or ‘Download’ and print a copy for yourself.
