Exam 15: Budgeting and Managing Fiscal Resources

The nurse has received a commendable progress evaluation and will receive a 3% merit raise. The base salary for an RN is $48,000. Based on this information, the new projected base salary for this RN will be $________.

The chief nurse officer (CNO) is planning the budget for the coming year. A new position has been added to the nursing administration cost center. The CNO is determining how many benefit hours should be allocated for this new position. Which days should the CNO include in this calculation? Note: Credit will be given only if all correct choices and no incorrect choices are selected. Select all that apply.

The nurse manager is creating the budget for the next fiscal year. Because the client census has been higher in the past year, more supplies were used. Which type of cost does this reflect?

The manager is aware that the cost center that she manages is a revenue producing unit. What type of area could the nurse be managing?

The finance department of the hospital has distributed information for the next budget cycle that includes a projected 0.19 inflation factor in the cost of water. If the hospital spent $285,000 on water last year, the projected cost of water for this year would be $ ________.

An unfavorable rate variance has occurred in the salary budget of a unit. When investigating this variance, the nurse manager should look for which situations? Note: Credit will be given only if all correct choices and no incorrect choices are selected. Select all that apply.

A nurse recruiter is developing a handout to take to nursing schools in hopes of recruiting graduating seniors. The salary for a newly hired nurse is $18.15 per hour with shift differential of 20 percent for working the 7:00 p.m. to 7:00 a.m. shift. The salary for those who would like to work this shift would be $________ per hour.

A nurse manager is trying to educate the staff regarding efficiency and how it affects the unit's costs. Strategies to increase efficiency could include which of the following?

Every month the chief financial officer (CFO) reviews the budget with the hospital's board of directors. The CFO requests a million dollars to purchase a new MRI (magnetic response imaging) unit for the radiology department. Which category best describes this request?

With the current healthcare industry focus on managed care, nurses must be more cost conscious. Which option is an example of a nurse being cost conscious?

The unit employs 35 FTEs (full-time equivalents) based on an 8-hour shift. The average benefits for these FTEs are 12 vacation days, 10 holidays, 6 sick days, and 4 personal days. Based on these figures, the FTE required per employee to replace benefit time is ________ FTE. Round to the nearest hundredth FTE.

A nurse educator is asked by the chairperson of the department to submit a list of equipment that could be used to meet the department's goals. The list includes projectors, computers, office supplies, and computer-assisted programs. How would the educator categorize the materials?