“In 2022 St Bede’s College engaged Plan Heaven to develop the school’s Long Term Maintenance Plan (LTMP). Plan Heaven was recommended to me by professionals in the property management industry and our due diligence convinced me that John Bradley and the Plan Heaven team provide an excellent product at a reasonable price.
After being engaged, Plan Heaven undertook a property survey of the school campus, prepared our LTMP, and loaded all the data into their online app. This LMTP was then reviewed by school staff and adopted by our Board. The whole process was unexpectedly easy.
The online app now allows us to maintain and update the LTMP ourselves. It gives us a tool to consider the effect of timing of major maintenance projects on our finances and helps enormously with our long term operational and financial planning.
We have found the Plan Heaven team professional, knowledgeable, and easy to deal with. I’m very pleased that we engaged them, and very happy to recommend them to others. ”Steve Kelsen, General Manager, St Bedes, Christchurch
The Assets Feature allows you to create a Capex budget
Would you like a separate report that lists your school's budgeted capital expenditure? To achieve this, turn on and add data to the Assets and Capex feature.
1. Why have a Capex Expenditure Budget?
Your accountant will have an assets register, including a depreciation schedule, which will list all of the school's assets along with its year of acquisition, depreciation and current book value, etc.
But the register won't include each HOD's and manager's wish list for new equipment. We know there are some big wish lists out there, especially from the Performing Arts, Sports and Technology Departments. Then there are the school's vehicles, tractors, and implements. Some of these are big-ticket items that can't be funded by petty cash. They need to be budgeted for.
2. If you would like to have a Capex budget report turn on the feature
The Assets and Capex feature is turned on by selecting a radio button behind the Plan Settings Panel in the Dashboard for your school's account.
Once the feature is activated, you can add as many assets as you like and use your own naming conventions. Once an asset has been created, you can add unlimited budgeted capital expenditure items against it in any or each of the years during the term of the LTMP.
At the time of having us set up your LTMP, we will discuss this with you and set them up as required. Assets and Capex can be edited, deleted, or new ones added as required.
3. Reporting and Reviewing
Your LTMP does not include the Capex budget. You need to print a separate report. However, that report does include a grand total of the budgeted work planned in the LTMP along with the Capex, giving a total cash expenditure planned for each year.
Of course, if the first cut of your LTMP, including the Capex, is predicting that you are planning to blow the budget, well, that's when you go back and start editing. And, of course, explaining who can't have what.
Summary
So, if you would like a separate report that lists your planned Capex, just ask us to turn on the feature.
Ends
If you have any questions and would like to know please contact support@planheaven.co.nz or 0800 109 327
The Plan Heaven team.