Problem $3-$

A hospital's budgeted volume for calendar year $2024$ is $200,000$ procedures, and

each FTE can do $9,200$ procedures a year. A pay raise will be given to all staff on

May $1$st of each year at a rate of $5$ percent. The annual hours for FTE is based on

$40$ hours per week for $52$ weeks. The July $1,2023$ rate of pay for new hires is set at

$$38\mathrm{.}00/$hour regardless of hire date. The following are the current staff with FTE

values and hourly

The following information may or may not be needed to solve this problem. In

examining the payroll and personnel records of your department, you have

determined that productive time is $84$ percent of total paid time.

a$.$ Calculate the FTEs needed to perform the planned procedures for the calendar

year, and determine how many new staff $($FTEs$)$ need to be hired, new staff can

only be hired in full FTE increments $($e$.$g$.,$ if you need $12\mathrm{.}3$ FTEs, $13$ FTEs must be

hired$).$

b$.$ Calculate the salary budget for fiscal year $2024$ which runs from July $1,2023$ to

June $30,2024).$ The new FTEs will be hired at the start of the fiscal year. Hint:

Make sure to account for salary adjustments based on the dates they went into

effect.

Note that for this problem, since the number of procedures each FTE can do per year takes into account non productive time, I believe there is no need to account for productivity.