Capital Expenditure Approval Form
(this form must be completed and authorised for all capital projects, where the total capital commitment exceeds $20,000)
1 Description of Program Indicate which of the following describes the purpose of the proposed capital expenditure. Teaching and learning (all areas) Social, environmental or community Provide a brief description of capital expenditure item limiting the use of technical jargon. Research and development Regulatory or OH&S compliance
Up-grade or replacement of existing capital item (yes / no) 2 Benefits to RMIT a) Financial
New capital item for expansion or growth (yes / no)
Please complete summarised financial information in the table below and attach detailed project specifications as an appendix to this approval form. current yr0 Operating expenses (salaries, materials etc) Capital expenses Grants and other funding RMIT - Outflow Predicted Income Cost savings Estimated scrap value RMIT - Inflow Total return Net Present value Payback period Projected IRR What is the estimated useful life of capital item current Is the expenditure tied to grant funds (yes / no ) yr1 yr2 yr3 yr4 yr5
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Cost of funds
7%
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Does the existing infrastructure have to be altered to accommodate the capital items (yes / no) If yes, have the costs been included in the financial data presented above, or please provide additional financial details.
Is the capital item included in the current periods 3 year capital plan (yes / no) If no, how will the additional funds be obtained? If yes, is the estimated total cost within 5% of the budgeted amount?
b) Operational What is the fiscal result for the department requesting the capital item purchase Last year - actual Operating result (prior to all capital expenditure) Surplus / deficit after capital expenditure c) Social, cultural and environmental Provide details of social and environmental benefits to be derived from capital expenditure. Where applicable, please document the environment risk associated with the future disposal of the capital item. YTD - actual 12 month - forecast
3 Post implementation plan A post implementation audit must be conducted on capital expenditure within twelve months of the capital item being ready for its intended use. Please detail the anticipated completion date of the implementation audit and the responsible departmental staff member who will be coordinating this task.
4 Administration and approval Faculty Department Internal Order number Physical location of capital item Campus Building Level Room
The approval of the capital expenditure sanction must be consistent with the authorisation levels documented in the RMIT policy covering "The Authority to expend funds".
Signature
Printed name Created by Recommended by Approved by Date 24/Oct/09