Hi,
Pl.go through the following, I hope it will be useful:
Facility Operating Current Replacement Value (CRV) Index
Performance indicator:
Facility Operating Current Replacement Value (CRV) Index
Strategy for Selection:
Strategy for Selection: This indicator represents the level of funding provided for the stewardship responsibility of the institution's educational and general (E&G) capital assets. The indicator is expressed as a ratio of annual facility maintenance operating expenditure to Current Replacement Value (CRV).
Annual Facility Maintenance Operating Expenditures Defined:
Annual Facility Maintenance Operating Expenditures includes all expenditures to provide service and routine maintenance related to facilities and grounds used for E&G purposes. It also includes expenditures for major maintenance funded by the Annual Facilities Maintenance Operating Budget. . This category does not include expenditures for major maintenance and/or capital renewal funded by other institutional accounts, nor does it include expenditures for utilities and institutional support services such as mail, telecommunications, public safety, security, motor pool, parking, environmental health and safety, central receiving, etc.
Current Replacement Value Defined:
Current Replacement Value (CRV) is defined as the total amount of expenditure in current dollars required to replace the institution's educational and general facilities to its optimal condition (excluding auxiliary facilities). It should include the full replacement cost for all buildings, grounds, utility systems, and generating plants. Furthermore, it would meet the current acceptable standards of construction, and comply with regulatory requirements. It is recommended that the average total project cost per square foot, multiplied by the gross square footage of educational and general buildings be used for the building portion of current replacement value. The cost to replace grounds, utilities and generating plant should also be include to the extent they support general educational facilities. There will likely require an apportionment of total replacement cost for these components that is consistent with the educational and general facilities they service and should exclude the auxiliary portion. Insurance replacement values or book values should not be used.
Equation:
Annual Facility Maintenance Operating Expenditures ($)
-
Current Replacement Value ($)
Edited by: Raghonadh Dutt Pallampati on Jan 21, 2008 5:04 PM
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