Loss Measurement: A careful approach will ensure a successful

4 D I SAS T E R R ECOVE RY TODAY.COM by conducting a physical inventory of the lost items. Where possible, photos should be used to support the list. In cases where items have been removed (for safety or mitigation), or destroyed, it will be necessary for each department to compile a list frommemory and to augment it with any available support documentation. In extraordinary cases, a modeling system may need to be used. When developing inventories from memory, solicit help from those most familiar with the area. An assistant may have a better idea of an office’s contents than the supervisor who occupies it. In addition, organizations must also track items taken from stock being used during the recovery. Again, an inventory control system is the recommended approach, but at the very least a day-to-day logging system should be implemented. Regardless of how the inventory is generated, at a minimum it should contain: Item description Make and model number Date purchased Purchase amount Replacement item description Make and model number Replacement cost When pricing equipment and inventory/ supply losses, attach any available data such as: Original invoice Inventory system entry Pricing tools Catalogue entry Written quotes Name and phone number of provider (for telephone quotes) Web address Photographs Revenue Losses While not directly reimbursable from FEMA, business interruption insurance plays an important role in an organization’s financial recovery and in any FEMA reimbursement calculation. If an insurance recovery includes reimbursement for lost revenues under a blanket policy, e.g., lost revenues for a damaged municipal parking garage that is damaged; then the amount paid for the lost revenue needs to be separated from the property portions of the claim, before the insurance recovery amount is deducted from the FEMA grant covering the property damage. “When assessing damages to buildings or other items (FEMA defines these as a ‘facility’), an applicant needs to approach the task in three phases: As it was, as it has to be, and as we want it to be.”

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