Many of you are familiar with the free Life Cycle Calculator that Smart Church Solutions offers as part of your eSPACE suite. This facility management tool – which is totally free – is used by churches across the United States and Canada.
Current Life Cycle Calculator Features
The Life Cycle Calculator allows organizations to:
- Create capital groups (HVAC, Flooring, Roofing, Parking, IT, A/V, Elevators, etc.)
- Add all items with a life cycle (basically every component of the physical building as well as the contents of the building)
- Indicate the current replacement value
- Include the remaining useful life (in terms of years)
- Project inflation increases
Then, the calculator will process the information and provide data indicating the total amount needed to replace an item at the end of the stated remaining useful life. Also, it will list the amount of money necessary to ensure the funds are in place.
Additionally, the calculator will process the data into an annual summary broken down by year. It indicates the total funds that will be required year after year. This is an excellent tool to eliminate the surprise of inevitable expenses for a facility management team, finance team, and administration team.
But Now There’s More!
We have recently released a new feature to the free Life Cycle Calculator called Cash Flow. As we uncovered above, the Life Cycle Calculator is an invaluable tool to project necessary funds. However, it did not provide a means to determine if there are adequate funds available to cover expenses.
The addition of the Cash Flow will allow you to:
- Add Current Balance in your capital reserve account
- Add Annual Additional Deposits to the capital reserve account
- Pull the Projected Expenses from the Summary tab
- Determines the anticipated funds (Current Balance + Added Deposit - Projected Expenses = Anticipated Available Funds)
- Add a projected Rate of Return based on how you are investing your Capital Reserve Account funds
- Calculate an anticipated return on the investment (Depending on your Rate of Return selection)
- Add your anticipated return on investment to the Anticipated Available Funds to provide an ending balance
In conclusion, Cash Flow is a great enhancement feature within the Life Cycle Calculator to further steward what God has entrusted to you (and your church). If you already use the eSPACE Life Cycle Calculator, then you need to check this out. If you are not using this tool, what are you waiting for?