Elementary Schools FCI
|
Facility Condition Index After determining the total deficiency cost attributable to each facility, a facility condition index (FCI) was calculated to represent the relative physical condition of facilities. The FCI measures the estimated cost of the current year deficiencies including recommended improvements and compares that to the replacement cost of the facility. The total cost of the repairs is divided by the current replacement cost of the facility, resulting in the FCI. A higher FCI would indicate a facility that is in worse shape, relatively. For example, A building has a replacement value of $1,000,000 and has $100,000 of existing deficiencies, the FCI is $100,000/$1,000,000 or 0.10. The replacement value represents the hypothetical expense of rebuilding the existing facilities in a manner representing the original construction. It is determined by multiplying the gross area of the facility by a square foot cost estimate. |
