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Facilities: Maintenance, Repair, & Replacement

Whether your organization owns or rents its space, you may find it necessary to make improvements to the property (leasehold improvements, if renting). For example, you may be responsible for maintenance and repair as the owner, or as part of the conditions of the lease. Anticipating what repairs or improvements may be necessary, researching and estimating the related costs, determining the target amount needed and the approximate timing of the expenditures are all part of the capital budgeting process, along with developing funding strategies. These funding strategies could include assignment of funded non-cash depreciation or dedication of certain revenue streams.  In addition, your organization may want to create, budget for, and maintain an emergency fund, for unanticipated repairs. 

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