We know there are many things to handle when dealing with a disaster. Cost tracking and analysis are important steps to your overall recovery. As your disaster recovery experts, Tidal Basin has put together a list of key cost tracking measures to consider while going through your response efforts.

Perform Preliminary Damage Inspections

  • Work with your departments to determine the extent of damage to facilities you own and rent.
  • To the best of your ability, perform an assessment to determine the extent of the damage, documenting everything with notes and photos.
  • This will aid FEMA in performing an expeditious Preliminary Damage Assessment (PDA) if you are a participant.

Document, Document, and Document Some More

  • Institute standardized work and cost documentation procedures, including:
    • Photos of damage
    • Narratives describing damages, including dimensions and specifications
    • Detailed work orders describing work performed to prepare for, respond to, and recover from the disaster
    • 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.

Establish Cost Tracking Protocols

  • Create cost centers and accounting codes. Accounting codes should be:
    • Trackable by a disaster event
    • Trackable by facility
    • Trackable by work category, such as debris removal, emergency protective measures such as sandbagging, and immediate repairs to facilities
  • Coordinate closely with finance and accountingto ensure all expenses are accounted for and tracked
  • Coordinate closely with department leads to ensure staff are utilizing accounting codes
  • Determine a process for retroactivelycapturing 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

Get Help If Needed

Decide if your organization needs the help of an outside consultant to provide additional staff during your response and/or assist with your recovery applications and implementation programs.

Download “Cost Tracking After a Disaster”

Tidal Basin can partner with you and assist with the process to ensure you receive full cost reimbursement for your response and recovery efforts. Contact us today.