CONTINGENCY RATES

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Contingency Rates

The problem with most financial projections is they often use present costs to make decisions for future projects — but you need the ability to add contingency rates to future projects. If your current system is unable to do this, then you are already short on funds for your project.

Facility Insite lets you plan with accurate financial forecasts.

Our software is developed with the help of several key school district leaders. That means we are easy to set up, adaptable if conditions change, and 100 percent transparent. Finally, we offer software built for helping districts with their capital planning, allowing us to equip our users with a unique ability to communicate needs through valid and realistic financial projects.

Facility Insite will help you provide information to your school board and constituents. With our software, everyone will have a more valid financial estimate on all your school district’s upcoming projects.

Contingency Rates Specific to Your Area

School leaders can leverage custom contingency rates. Simply apply these rates to a variety of factors specific to your district so you can more accurately depict and account for future projects.

Have new construction projects happening in the next five years? No problem. What about renovation or refresh projects that need to be addressed next summer? Easy. Each contingency rate can be customized by project type, timeline, and even down to the individual campus level.

Applied Contingency View (ACE™)

The ACE view allows for Facility Insite to do all the heavy lifting. School districts can add specific projects along with beginning costs with a few clicks. Facility Insite can apply all the preset contingencies to that project for a realistic future cost.

Imagine receiving preliminary costs for a new elementary school — let’s say $26 million. If somehow the school district were able to start, build, and complete that project in the next 12 months, that figure may be accurate. However, the problem is that the district doesn’t plan to start construction on that school for another 2 years.

Market conditions may shift. Construction costs may rise. All sorts of costs associated with a project of that size can increase. How do you account for the future value of money? Your school district uses Facility Insite. That’s the only way how.

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