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 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 have a negative impact on your annual budget.

If you haven’t prepared for the unexpected, you could face significant costs. Charges for an unscheduled repair can push replacing a failed system up more than 50% over a planned replacement.

Unexpected costs can be avoided with advance planning. Download Creating a Capital Budgeting for Major Facility Expenses to learn 4 steps to creating an accurate capital budget, including protection against unexpected system failures.

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

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

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