Part I: What to do before your basement floods can be found here and Part II: What to do as your basement floods can be found here.
Once the storm is over and hopefully your power is back on, here are some things you can do.
1. As soon as possible, begin to dry things out. The restoration crew that cleaned up our basement said carpet is salvageable if it gets dried out within 72 hours (the carpet pad is a lost cause but carpet can be dried). We didn't even get power back that quickly, so ours was a goner. At any rate, removing excess water and setting up fans will go a long way towards preventing mold.
5. Take care to prevent mold. The restoration company that cleared things out sprayed some antimicrobial spray which I was very happy about. We kept fans going down there for several days to get things nice and dry, and in a few weeks we'll get around to replacing the drywall and carpet.