FMX’s Capital Planner empowers organizations to optimize their budget allocation. This optimization enables them to prioritize strategic enhancement and improvement investments. The tool provides clear visibility into future asset replacement costs and upcoming project costs against projected budgets, ensuring financial readiness and long-term sustainability.
How it Works - Asset Replacement
Capital planner will take the information from the "Asset lifespan" fields from your equipment such as "Installation date", "Estimated replacement date", "Planned replacement date" and "Replacement asset value." With this information plus costs logged in FMX the fields will calculate:
- Estimated useful life - calculated by subtracting today's date from the estimated replacement date field
- Lifetime maintenance costs - calculated by summarizing all costs associated with this equipment item (logs, requests, tasks, labor cost, inventory cost, etc.)
- Last 12 months maintenance cost - calculated the same as above but for last 12 months
- Average annual maintenance - calculated by summarizing all costs divided by the time range from the earliest cost logged to today
- MC/RAV (%) - calculated by dividing the Average Maintenance Cost(MC) by the Replacement Asset Value (RAV) (then multiply by 100)
Capital planner will take this data to be viewed in the "Capital Forecasting Projection". In the first graph you can compare the costs for upcoming asset replacement and replaced asset costs with the funds you set for the fiscal year. Capital project costs will be viewed on this graph as well.
By hovering over the graph a snapshot of that fiscal year can be viewed
In the cost breakdown section asset types and project types can be compared as well as cost by building. The report can be filtered by selecting a section of the pie chart or by using the filter below the pie charts.
Grid View - Asset Replacement Costs
Below the cost breakdown charts users can view each asset and choose to display information.
Select the check boxes on the left to move the change the replacement date on assets individually or in bulk. Then click the "Move replacement date" button change the fiscal year.
To have an asset's replacement cost accounted for in capital planner then it needs to be retired in FMX. Select the 3 dots next to an asset in the equipment module. Then choose "Retire".
Then make sure the "Planned replacement date" and "Replacement asset value" is filled out be selecting the "Retire" button.
How it Works - Capital Projects
The information logged in the "Capital project" fields of a project request, such as "Planned project start date", "Planned Project end date", and "FY Committed funds". The fields will calculate:
- Planned project duration - time between start date and end date
- FY costs - costs logged on the project from that fiscal year
- FY balance - costs remaining from the committed funds for that fiscal year
- Total committed funds - total of funds committed(includes multiple fiscal years)
- Total costs - all costs logged on that project
- Total fund balance - all remaining funds
Capital planner will take this data to be viewed in the "Capital Forecasting Projection". In the first graph you can compare the capital project spent cost and capital project unused funds to the available funds. The time range filter can be set to specific fiscal years. The asset replacement data will be on the graph as well.
By hovering over the graph a snapshot of that fiscal year can be viewed
In the cost breakdown section asset types and project types can be compared as well as cost by building. The report can be filtered by selecting a section of the pie chart or by using the filter below the pie charts.
Grid View - Asset Replacement Costs
Below the cost breakdown charts and asset replacement grid users can view each capital project and choose to display information.
Select the check boxes on the left to move the change the project date on capital projects individually or in bulk. Then click the "Move project date" button change the fiscal year.
Setup
Follow the below steps to setup the capital planner feature on your site. If you do not currently have this feature reach out to your FMX account manager.
Users
Choose which user types have access to capital planner.
1. Go to the admin settings user type section and select the "edit" button of the user type you want to give access
2. Go to the "Capital planner access" section and change the "Capital planner access" field from "No access" to either "View only"(only able to view the report) or "Edit"(can view the report and update funding sources.
3.Then go to "Equipment Access" section of the user type settings and check the box for "Can access asset lifespan fields". This will give the user access to the 4 new standard fields tracking asset lifespan.
Equipment
Any piece of equipment with the asset lifespan fields filled out will show up in the capital planner report. This information can be filled when creating a new piece of equipment or editing a piece of equipment in the "Asset lifespan" field section.
These can also be filled out when bulk importing equipment or bulk editing equipment.
See these support center articles for information on how to bulk import or bulk edit equipment.
Funding Source
1. Navigate to the second tab called Funding Sources in the Capital Planner feature.
2. Select the "Add Funding Source" button. Then select the fiscal year and enter the amount.
Funding sources can also be bulk imported. This needs to be turned on by going to the admin settings, then the user type section, select the edit button for the user type you want to have access and then go to "Capital Planner Access". The check the box for "Bulk import funding sources."
To change the start date of the fiscal year go to the admin settings. In the "General" section go to the "Capital Planner Settings". Then change the "Fiscal year start date" field.
Capital Projects
1. Go to the Admin settings
2. In the General section navigate to "Capital Planner Settings".
3. Then select the work request module you wish to have for your capital projects by choosing it in the "Capital project module" dropdown. Then select save.
Only one work request module can be selected for the Capital Planner Feature. If you would like to add a separate module to track projects please contact your account manager at FMX.
Once a module has been selected when you create a new request or edit an existing request in that module you chose previously, you can fill out the fields. These fields will appear on the Capital Planner feature graph within Capital Project Spent and Unused Funds. Additionally you can add costs to the project before resolving by responding to the request and filling out the cost field.