[jpelletier]

Hi Sara-
Our building has been open for about 12 years.
For the first decade, we were able to transfer about 10% of our total budget for the year to reserves for upkeep and significant renovations (capital projects). We have not been able to hit that mark since the pandemic, but fortunately we typically exceeded that 10% goal in the early years, so we are able to account for budget shortfalls with our reserve fund.

In terms of timing, we had 5, 10 and beyond -year plans, but we found that usage accelerated those. Additionally, trying to replace all common area furniture at the 10-year mark would have been a major task, so we spaced it out over the 8-12 year mark, hitting the highest priority spaces first, i.e. the ones with the most use or where furniture was looking the most worn.

We did not do a great job of keeping up with painting, but had the entire public-facing sections painted at the 8 and 9 year marks. We did specific rooms and sections of hallways as needed before that. We’re currently trying to get those on a consistent cycle, and are adding administrative spaces.

As we are in year 12, the next major set of projects will be carpet replacement, and possible administrative space renovations and refreshes.

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Jeff Pelletier, MA, MBOE, LSSBB
Ohio Union Director
The Ohio State University
Columbus, OH
614-292-3290
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Original Message:
Sent: 08-19-2022 09:41
From: Sara Cope
Subject: Repair/Replacement Budget Per Sqaure Foot?

I’m new in my Facilities role for our Student Centers and would love to connect with anyone on these two questions.  Feel free to reply here or email me at sara.cope@vanderbilt.edu. 

• How much money do you budget for repair and replacement (paint, floor, equipment) per square foot?  
• Any favorite practices on lifecycle tracking that have helped you accurately project expenses 2, 5, 10 years in advance to avoid surprises and leave money for fun things?  

Thank you!!
Sara

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Sara Cope
Senior Coordinator of Operations and Events
Vanderbilt University
Nashville TN
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[jpelletier]

Hi Sara-
It looks like my first reply did not make it, so I am trying again.
Our building is 12 years old, for reference.
For the first 10 years or so, we were able to transfer about 10% of our budget to reserves annually, to pay for future projects, renovations, capital planning, etc. While we have not hit that since the pandemic, we usually exceeded that 10% goal in the first decade so we have been able to cover our expenses (including the debt service on the building) over the last few years.

In terms of scheduling, we also had a plan that accounted for significant work at 5, 10, 15 years, and beyond. The challenge we found was getting everything that was “due” accomplished at that time. For example, all lounge furniture was in the 10-year plan. We have had to spread that out to 8-12 years, and we are still not finished. We have prioritized the spaces with the most use and wear, and are working on what we can as the supply chain will allow.

For painting, we started off a little more reactive here, but completed all public-facing spaces during the summer in 2018 and 2019, and are working on a plan to address each area on a scheduled timeline.?

Our next hurdle will be addressing the administrative spaces for paint, and refresh, and replacing carpeting in public spaces and any meeting rooms that did not get replaced due to premature wear.

I hope that is helpful – let me know if I can answer any additional questions!?

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Jeff Pelletier, MA, MBOE, LSSBB
Ohio Union Director
The Ohio State University
Columbus, OH
614-292-3290
——————————
——————————————-
Original Message:
Sent: 08-19-2022 09:41
From: Sara Cope
Subject: Repair/Replacement Budget Per Sqaure Foot?

I’m new in my Facilities role for our Student Centers and would love to connect with anyone on these two questions.  Feel free to reply here or email me at sara.cope@vanderbilt.edu. 

• How much money do you budget for repair and replacement (paint, floor, equipment) per square foot?  
• Any favorite practices on lifecycle tracking that have helped you accurately project expenses 2, 5, 10 years in advance to avoid surprises and leave money for fun things?  

Thank you!!
Sara

——————————
Sara Cope
Senior Coordinator of Operations and Events
Vanderbilt University
Nashville TN
——————————

[mmckinney]

Hi Sara!

ACUI has a replacement cycle webinar coming up September 21.? You can register on the ACUI site -?https://www.acui.org/webinars. I think it’s free for members.

Join fellow professionals who will teach you best practices surrounding replacement cycles. What are the industry standards? Why should you start considering them, if you do not already? What does record keeping look like to stay on track? Learn about best practices for purchasing, justifying early replacement to administration, cost and cost projection, finding vendors, and more.

Matt McKinney
Assistant Director of Operations and Facilities
University Commons and Event Services
University of West Florida

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Matt McKinney
Assistant Director, Operations and Facilities
University of West Florida
Pensacola FL
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——————————————-
Original Message:
Sent: 08-19-2022 09:41
From: Sara Cope
Subject: Repair/Replacement Budget Per Sqaure Foot?

I’m new in my Facilities role for our Student Centers and would love to connect with anyone on these two questions.  Feel free to reply here or email me at sara.cope@vanderbilt.edu. 

• How much money do you budget for repair and replacement (paint, floor, equipment) per square foot?  
• Any favorite practices on lifecycle tracking that have helped you accurately project expenses 2, 5, 10 years in advance to avoid surprises and leave money for fun things?  

Thank you!!
Sara

——————————
Sara Cope
Senior Coordinator of Operations and Events
Vanderbilt University
Nashville TN
——————————