Prof. Name
Date
Expenses/Cost
Year 0 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Grand Total |
|
|---|---|---|---|---|---|---|---|
Start-up Expenses |
|||||||
| Start-up expenses | $- | $- | $- | $- | $- | $- | $478,485.00 |
| Leadership Development training x40 | $217,160 | – | – | – | – | – | $217,160 |
| Chief Nursing Retention Officer GS-13 | $161,200 | – | – | – | – | – | $161,200 |
| Birthday Fund x957 Staff RN’s | $23,925 | – | – | – | – | – | $23,925 |
| Emotional Intelligence Training x60 RNs | $51,600 | – | – | – | – | – | $51,600 |
| Effective Communication training x60 RNs | $24,600 | – | – | – | – | – | $24,600 |
Operating Expenses |
|||||||
| Birthday Fund x957 Staff RN’s after 1 year of service | – | $23,925.00 | $23,975.75 | $24,695.02 | $25,435.87 | $26,198.95 | $124,230.59 |
| Chief Nursing Retention Officer GS-13 with 3% cost of living | $161,200.00 | $166,036.00 | $171,017.08 | $176,147.59 | $181,433.34 | $679,685.10 | |
| PTO of Birthday x957 RN’s after 1 year of service + cost of living | – | $294,449.76 | $303,283.25 | $312,381.75 | $321,753.20 | $331,405.80 | $1,563,273.76 |
| New-hire Champions 2K for tuition x15 after 1 year of service | – | $30,000.00 | $30,000.00 | $30,000.00 | $30,000.00 | – | $120,000.00 |
| Chair/Chair-elect 3K after 1 yr. termx14 | – | $42,000.00 | $42,000.00 | $42,000.00 | $42,000.00 | $42,000.00 | $210,000.00 |
Total Expenses |
$478,485.00 | $521,574.76 | $565,295.00 | $580,093.85 | $595,336.67 | $434,889.17 | $3,175,674.45 |
Revenue/Savings
Year 0 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Grand Total |
|
|---|---|---|---|---|---|---|---|
| Increase retention by 10% yearly (current turnover 12%) | – | $918,720.00 | $964,080.00 | $974,670.05 | $1,022,790.60 | $1,053,468.00 | $4,933,728.65 |
| New-grad orientation decrease by 0.012% | $5,220,000.00 | $5,220,000.00 | $5,220,000.00 | $5,220,000.00 | $5,220,000.00 | – | $26,100,000.00 |
| New-hire orientation decrease by 0.012% | $1,645,000.00 | $1,645,000.00 | $1,645,000.00 | $1,645,000.00 | $1,645,000.00 | – | $8,225,000.00 |
Total Revenue/Savings |
$7,783,720.00 | $7,829,080.00 | $7,839,670.05 | $7,887,790.60 | $7,918,468.00 | – | $39,258,728.65 |
Cash Flow
Year 0 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Grand Total |
|
|---|---|---|---|---|---|---|---|
Cash Flow |
($478,485.00) | $7,262,145.24 | $7,263,785.00 | $7,259,576.20 | $7,292,453.93 | $7,483,578.83 | $36,083,054.20 |
Payback Period
Year |
Cash Flow ($) |
Net Cash Flow ($) |
|---|---|---|
| 0 | ($478,485.00) | ($478,485.00) |
| 1 | $7,262,145.24 | $6,783,660.24 |
| 2 | $7,263,785.00 | $14,047,445.24 |
| 3 | $7,259,576.20 | $21,307,021.44 |
| 4 | $7,292,453.93 | $28,599,475.37 |
| 5 | $7,483,578.83 | $36,083,054.20 |