View the Tidal Basin Cost Tracking brochure to learn how we help organizations manage and document disaster recovery expenses for maximum reimbursement.
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Cost-Tracking After a Disaster
Preparedness
In the aftermath of a disaster, cost-tracking and analysis are important steps to your overall recovery. Tidal Basin can help you manage and track costs while going through your response and recovery efforts. The following key points can get you started.
Response
Recovery
Perform preliminary damage inspections Work with your departments to determine the extent of damage to facilities you own and rent. Perform an assessment of the damage, documenting everything with notes and photos. This will aid the Federal Emergency Management Agency (FEMA) in performing an expeditious Preliminary Damage Assessment (PDA) if you are a participant in their programs.
Establish cost-tracking protocols • Create cost centers and accounting codes. Accounting codes should be: – Trackable by disaster event – Trackable by facility – Trackable by work category (i.e., debris removal, emergency protective measures like sandbagging, and immediate repairs to facilities) • Communicate with finance and accounting to ensure all expenses are accounted for and tracked • Coordinate closely with department leads to ensure staff are utilizing correct codes • Determine a process for retroactively capturing labor and cost data associated with work already performed but not documented Submit necessary paperwork as soon as possible • Submit FEMA Request for Public Assistance (RPA) • Register your organization via FEMA Grants Portal at: Grantee.FEMA.gov • Complete Private Non-Profit (PNP) Facility Questionnaire if applicable Get help if needed Decide if your organization needs to enlist an outside consultant to provide additional staff and/or assist with your recovery applications and implementation programs.
Mitigation
For more information on our program support, visit our website.
Document everything Institute standardized work and cost
tidalbasingroup.com
documentation procedures. • Take photos of all damage
• Create narratives describing damage, including dimensions and specifications • Make sure you have detailed work orders describing work performed to prepare for, respond to, and recover from the disaster • Gather receipts, invoices, purchase orders, contracts, etc. • Establish folders for each anticipated project (i.e., by facility, work category, etc.) • Document procurement processes, including any applicable emergency procurement policies • Document the vendor selection process
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