November 07, 2018

Why You Need a Capital Budget For Major Facility Expenses

Creating a Capital BudgetEvery business must have a capital budget to cover major facility expenses. Do you know how to plan for and create a facility capital budget for future replacement of mechanical equipment, roofing, parking lots, lighting and more?

When something in your facility fails unexpectedly, the cost to replace a major system can be high enough to have a negative impact on your annual budget.

If you haven’t prepared for these unexpected expenses, you could face significant costs. The charges for an unscheduled repair can push replacing a failed building system up by more than 50% over a pre-planned replacement.

Thankfully, those unexpected costs can be avoided with advance planning. Download Creating a Capital Budgeting for Major Facility Expenses to learn the 4 key steps to creating an accurate capital budget, including how to protect against unexpected major expenses.

In Creating a Capital Budget, you’ll learn how to establish a capital budget that accounts for unexpected issues and what your capital budget should include.

Establishing this source of pre-emptive funding prevents the fiscal shock that unplanned replacements can bring. Download Creating a Capital Budget to Fund Major Facility Expenses for a capital budgeting blueprint, and use it as a checklist to make sure your facility budgeting process is thorough and accurate.

To request a capital budgeting consultation with a Rudolph Libbe Group budgeting expert, email solutions@gorudolphlibbe.com or call 866.720.2700.

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