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Fiscal Management Exercise #1 Variance Analysis Exercise

Michelle Kardohely
Monthly Variance Report- Main 7 Surgical
$ %
Explanation - Needs
Description Budget Actual Varianc Varianc Explanation - Justifiable
corrective action
e e
Total Units (volume) over budget
by 12.1% Hiring in process for 2 FT RN
(750 actual 669 budget = 81) position and one PT nurse
aide positions.
Increase in volume for unit since
starting to receive post-cardiac
Salaries $(9,427
$76,243 $85,670 -12.4% stent patients that require
Productive )
overnight stay.

This has increased the need for

more staff on evening and night
shift, which currently is being
filled by contract staff.
Additional PTO hours were Hiring in process for the
earned based on extra hours open positions. See below.
worked by part-time staff to
cover staffing shortage Hiring in process, staff
member on MLOA expected
Currently, have 2 RN FTE and 1 return to work in 4 weeks
PTO $7,601 $17,264 -127% PT Nurse Aide positions available
Covering staffing shortage
related to:
1 FTE RN available, 1 PT Nurse
Aide available
1 staff member on MLOA
Contract man hours were up by 1 FTE RN hired from Main 6,
34% transferring next week. In
(422 actual 315 budget = 104) the process of interviewing
for other FT RN. Have
Volume up 12.1% extended an offer to the PT
Nurse Aide position and
awaiting an answer.
Open positions 2 RN FTEs and
1 PT Nurse Aide, these hours The RN transferring from
covered by contract staff Main 6 will require 3 weeks
of orientation, at which time
the contract RN will no
longer be required.
Need for contract staff to fill
vacancy by MLOA (justifiable if Consider pulling RN from
$8,734 $22,473 -157.3% Contract Labor was the ONLY float pull to be dedicated to
available resource to use in our unit until vacancies are
order to provide the necessary filled and/or staff member
hours for workload) returns from MLOA

Given the short staffing

situation, any additional
PTO that was granted was
not beneficial, as it
increased the need for
contract nurses. Until the
staffing situation has been
resolved, additional,
unscheduled PTO will need
to be approved and granted
by the director
Experienced a 12.1% higher This month has seen the
volumes for the month highest volume of patients
Contract salaries paid for the yet.
month were: Total contract man hours is
$22,473 actual -$8, 8734 34% more than budgeted
budget = $13,737 more (107 hr), productive man
than budgeted (an hours is 9.3% more than
increase of 157% for the budgeted (492 hr), and total
month) man hours 15.6% more than
budgeted (1121 hr).

Calculated salary expense for Budget hours of care per

Total Salary $110,53 $139,13 $(28,60 month: patient day are 8.75 and
Expense 3 3 0) $185.51 actual expense/pt actual hours used was 8.50
day - hr per pt day. This is 0.25
$165.22 budgeted hours less than budgeted
expense/pt day = $20.29 for.
more than budgeted. It appears that we are
YTD salary expense: efficiently meeting under
$167.98 actual expense the hours per patient day
160.98 budgeted expense for the month, but man
= $7.00 more than hours are high.
budgeted YTD
Revaluate if non-productive
hours are being properly
Patient $11,858 $15,331 $(3,473 -29.3% For the month, $17.72 per unit Given that the prior year
Nonchargea ) of service was budgeted, actual month used was $21.05, a
ble used was $20.44 per unit of budget of $17.72 for the
service, prior year month was month was not sufficient.
$21.05 Current YTD beds are up
308 more than budgeted,
YTD $17.73 budget, $24.78 which can account for the
actual, increase in actual dollars
prior YTD $17.49 from what was budgeted
Total volume up 12.1%,
using more nonchargeable
expenses than expected Staff need to be reminded
Or to charge the patient for
With an increase in contract items with barcode stickers
staff, there can be a decrease in
capturing chargeable items
For the month, the total non- Review and monitor patient
salary expense was over $1.75 kitchen snacks, and other
more per pt day than what was supplies (cups, spoons, etc.)
budgeted. as well as departmental
supplies for added costs.
Total Non-
$(3,319 But under the YTD total of $6.02
Salary $16,545 $19,864 -20.1%
The majority of the non-salary
expenses are related to patient
nonchargeable, which is likely a
reflection of the increased
Sample Monthly Budget Report for Unit Main 7 used for Monthly Variance Report exercise. Several
plausible explanations were to be provided.