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P3 Toolkit

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P3-VALUE: Public Sector Comparator Tool User Manual

December 27, 2013

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Chapter 5 Cash Flow Sheets

Inputs in the "Assumptions" sheet generate sample cash flow sheets that are available to users for educational/informational purposes. The cash flow sheets are not editable, but display nominal or real cash flows based on specific project assumptions as well as a summary of total project cash flows. The list below includes nominal cash flows (i.e., inflation is incorporated). The cash flow sheets include:

  • Project Cash Flows - Includes factors based on the timing and inflation assumptions that are needed to generate the project cash flows (assuming inflation is to be incorporated).
  • Construction - Construction phase cash flows.
  • Operations and Maintenance - Operations and maintenance nominal cash flows.
  • Project costs - Nominal cash flows for other project costs.
  • Risk - Calculates the total risk values for cost and schedule delays and the allocation between transferrable and retained risks.
  • Traffic Scenario - If tolling is included in the project, this sheet reflects the raw traffic and toll rates based on the traffic scenario selected in the "Assumptions" sheet.
  • Revenue - Provides the gross annual revenues per vehicle classification.
  • Toll and Other Revenue - Applies any revenue leakage and ramp-up assumptions to the gross toll revenues and calculates any non-toll revenues.
  • PSC Adjustments - Nominal cash flows for the PSC adjustments.
  • Funding - Cash flow for any funding provided to the project.
  • Financing - Generates the required draw-downs based on the project's cost profile and calculates the associated cost of finance based on the financing assumptions provided.
  • Transferrable Risk - In a public procurement method, some design and construction risks that would be retained by the procuring agency but would be transferrable to the private contractor under a P3. This sheet allocates the equivalent value of transferrable risk to cash flows, with dollar amounts representing the expected cost consequences of a risk event occurring. Note that these transferrable risks would actually be retained by the procuring agency under a public procurement, and are therefore included in the PSC costs. They are accounted for separately for convenience in making comparisons to the P3 Estimate's transferrable risk costs.
  • Retained Risk - Considers any financing required by the agency to manage these risks.
  • Cash Flow Summary - Summarizes the project's cash flows.

 

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