Budget Terminology
A measure of the Volume of work performed within a given cost center, also known as a KVI
What is a Unit of Service (UOS)
What is the first thing I need to submit to get a job posted?
What is a Position Control Worksheet
A meaningful response to an unfavorable performance to support improvement of financial results, quality outcomes, patient satisfaction and more
What is an Action Plan
2,080 hours per calendar year: the amount of work that is expected to be performed by one employee, working full time. Calculated by taking 5 days a week * 8 hours per day * 52 week in a year
What is a FTE
An FTE that is funded in a specific cost center for the fiscal year.
What is a Budgeted FTE
What is the most popular reason a request would be exempt from submitting a Position Control Worksheet?
What is Career Ladder
What do I use to see what pay codes a cost center has used to pay employees for a pay period or month?
What is a Payroll Data Report
Also referred to as Registry or PRN, this labor is utilized as needed to cover labor needs due to vacancies, PTO, FMLA, etc. These employees are not guaranteed a set number of hours
What is Supplemental
Budget for this type of expense does not fluctuate with volume but is determined by contractual amounts or reviewing historical actuals.
What is a Fixed Cost Expense
Where can I find a list of all hired in + posted information for all cost centers at the BT Pavilion?
What is the Vacancy Report
Which item is included in productive time: Jury duty, Vacation, Hospital Business, or Funeral Leave?
What is Hospital Business.
Annual plan approved by the Board of Managers and Commissioners Court which establishes the organization’s volume, revenue, and expense targets for the fiscal year.
What is the Annual Budget
The rate of actual, historical (run rate) FTEs over budgeted FTEs in a given time period used to forecast the number of future FTEs. Adjustment to budget to reflect the fact that not all positions will be filled 52 weeks per year.
What is the Budgeted Vacancy Rate
What are the 3 FTE Values we use to categorize positions (Full-Time, Part-Time/Supplemental)
What are 0.6, 0.9, and 1
A unit uses 18.6 FTEs during a particular two week pay period. How do you calculate the hours that were worked? FTE Calculation
What is 1488 hours
18.6 * 5.714 = 106.2804
106.2804 * 14 days = 1487.9256 Round up
Method of forecasting future performance based on historical actuals during a given time period as part of the budgeting process. Examples methods: annualized year-to-date; rolling 12 months actuals; prior year actual results adjusted for inflation
Run Rate
All hours and dollars associated with overtime, contract labor and supplemental labor, where the rates are above average hourly rates for regular job classes.
What is Premium Labor
You have a NC II posted, candidate is interested but has experience level of A NC III. – What do you do?
Work with recruiter to remove the job posting. Go to PeopleSoft – Position Management – Position Reclassification – Reclassify the position to meet candidate’s experience level. In the comments state
“Candidate waiting; Reclassing to meeting candidates experience level of III instead of II. Communicate with HR and Business Ops"
A unit used 152 hours for Hospital Business last pay period. What is the FTE count? And how do you calculate the FTE amount?
What is 1.9 FTEs
152 hours / 14 days = 10.857 hours per day 5.714
10.857 hours per day / 5.714 = 1.9
What does it mean if you take an average of the current monthly stats and apply that to the remaining months in the FY?
What is Annualized