Cost

COST SUMMARY

The Financial Assessment, which serves as the master budget, provides a summary of projected costs for the recommended facility needs and scopes of work at each site. The report includes life-cycle repair and/or replacement line items as well as proposed modernization and new construction projects.

The master budget identifies costs at a project level basis to provide the district with a rough order of magnitude of costs. This program level master budget has been drafted based on 2025 industry costs. Each phase of implementation will require adjustment of escalation and overall market conditions for each year

Project costs are determined using a database of costs based on a combination of cost estimation of resources including RS Means and Sierra West cost estimating manuals; third party estimators; recent, comparable bid estimates; as well as estimates provided by local contractors and material suppliers as a benchmark for validation and adjustment.

This method of estimation is intended to provide a guide for project budgeting parameters. It is not a detailed estimation of project costs, as projects have only been identified in broad scope.

When reviewing associated cost estimates, it is important to note that project costs differ from construction cost estimates because they included both “hard” and “soft costs

HARD COSTS

Hard construction costs include the cost of labor and materials for the contemplated on-site improvements along with a reasonable multiplier for the contractor’s administration, overhead, and profit. An additional contingency is included to account for any unforeseen conditions and potential changes as are typical over the course of design and construction.

SOFT COSTS

Soft costs are in addition to hard construction costs and generally include design, plan review, inspection, and agency fees.

Finally, an escalation factor is applied to each project phase to account for the inflation in construction cost over time. Escalation is factored to the midpoint of construction

MULTIPLIERS:

• DESIGN CONTINGENCY: 20%

• SOFT COSTS:         30%

• ESCALATION:         6% / ANNUM
  
  

Campus master plans are not based on detailed site surveys, such as coordination of existing utility locations, soils reports and detailed code studies. That level of analysis will be completed during the design phase as projects are implemented. It is also likely that the project listed in the FMP will be addressed incrementally, not as one large comprehensive project; therefore, it is important that when designing individual projects in the plans, they are planned in such a way that future scopes can be realized and that each project can stand on its own without negatively impacting operation of the school.