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The contents of the report have been designed for managers who contribute to the financial decisions on pollution control equipment.
The quantitative aspects of the report are intended to provide guideline approaches useful in calculations to develop comparitive values of the financial alternatives available for pollution control equipment and expenditures.
The laws and techniques used throughout are applicable to any air or water pollution situation for any industry. To lend more precise applicability, the report has been tailored to the poultry processors and some common attributes of their plants. The major pollution situation referred to is waste water because we are considering primarily the processing and not the rendering phase of the business, although much of what is said here is also applicable to air pollution control costs.
When a waste water system is referred to it will mean any processing waste water system which could, where feasible, be used for feedlot or rendering wastes in a vertically integrated company. The analysis is applicable to processors with their own treat- ment facilities and to those connecting with the municipal system.
The data does not show whether the present mix was derived because of the advantage of user charges. Nor does it show whether each processor had the physical choice of both options. Facing higher user charges in the future, brought about by the Federal Water Pollution Control Act, and new standards for private treatment, the whole mix is subject to the possibility of major swings.
The reader should regard the illustrative situations used in this presentation as necessarily simplified, representative examples that by no means exhaust the variety of available alternative tax and financing strategies, particularly those relating to pollution control equipment.
Consultation with the latest tax rulings and legislation is necessary before undertaking the final decision making process. The impact on businesses of non-pro- ductive environmental expenditures can be significant where by-product recovery is limited or non-existent.
It is clear from the provisions of the Water Pollution Control Act coupled with the existing Clean Air Act, that industry must commit sizable capital to meet the environmental stan- dards the nation has set. Many governmental institutions have shown a form of compassion for these necessary expenditures by providing means of reducing or soften- ing the financial expenditures for pollution control.
There exists a mild governmental practice of spreading some of industries' pollution control costs over the general public in place of just the company, and, to some degree, its customers. This is accomplished by excusing pollution control devices from certain sales, use and property taxes, by allowing tax-exempt financing by the company of the expenditures, or through adjustment in company income taxes by the addition of special depreciation alternatives.
All of these programs involve a company paying lower taxes than they nor- mally would have to pay if that equipment was for some other manufacturing or service purpose.
To put these incentives or cost reduction practices into per- spective, it should be pointed out that these incentives do not pay for the pollution control investment nor do they overwhelmingly reduce the cost. Because procurement of control equipment is a relative unique business occurrence, and because of a considerable body of new and involved tax and financing regulations for such purposes, it is likely that company financial managers are not as familiar with the many possibilities as they would be with the more common business operations.
This report will demonstrate that it is well worth spending time in analyzing the unique added methods of financing pollution expen- ditures and their equally unique tax treatment. It will alert decision makers as to the availability of, and qualifications for some of the fi- nancing incentives that federal, state and local governments have made available.
Obtaining the optimum financial and tax incentives for your com- pany could save tens of thousands of dollars over the life of the equip- ment. For example, a recent Business Week article July 29, pp.
Meanwhile, the company can take depre- ciations and use investment tax credits which lower taxes. Thus, it can build up a cash flow which is used in other areas of the business.
On that cash flow, earnings are generated which help to repay the bond prin- 11 cipal at the later time. The emphasis of the report thus far has centered on equipment purchases.
Poultry processors with their own waste treatment facilities, and any processor-Tenderer with air pollution control equipment, will find the equipment emphasis appropriate. Those poultry processors whose waste becomes part of the municipal system will find the equipment analy- sis pertinent only if pre-treatment of wastes requires capital expenditures, The municipal treatment users, who already pay charges, are expected to face increased user charges under the Federal Water Pollution Con- trol Act, where federal funds are used for construction of the municipal treatment facility.
Once the EPA publishes its system of user charges April,poultry processors and others will then be able to analyse whether it would be financially preferable to make a capital equipment investment for their own private treatment facilities, or whether being hooked into municipal treatments system is better.
There may be regulations, however, that might preclude the exercise of the results of such a decision. Pres- ently, there is little that can be said quantitatively with respect to the preference of a user charge versus private treatment decision because of the anticipated changes in rates.
This report will indicate, however, how to proceed with an analysis once the permissibility and costs of using mu- nicipal facilities are more adequately defined. Management Summary and Guide We have noted that there are a number of new unique alternatives that have sizable differing financial consequences amounting to tens of iii thousands of dollars.
Many of the alternatives require, by law, that once a financial decision is made it can't be changed, or changed in only one direction. Others are final in that it would be prohibitively costly to change later on in the program.
Therefore, the following financial infor- mation should be analyzed as a minimum before an equipment decision is made. Determine for all debt financing of pollution control investments, the most effective combination of rate and term of the loan.
Calculate the nega- tive cash flows involved and their net present values. Calculate the year-by-year cash inflows and the present values for each available choice of depre- ciation.
Select the management objective by which you would want to judge the financial impact of the investment in equipment; for example, lowest short-term profit impairment, least cash drain, long-term profit im- pairment, etc.Retrofitting Existing Buildings to Improve Sustainability and Energy Performance.
by Richard Paradis, P.E., BSCP, Bd. Cert.
Noise Control Engineer consider upgrading for accessibility, Federal Agencies are required by Executive Order to have 15 percent of their existing facilities and buildings meet the Guiding Principles by the.
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How to upgrading the existing facilities in country. What This Checklist is Not This checklist does not cover all of the requirements of the Standards; therefore, it is not for facilities undergoing new construction or alterations.