18.
- 6 -
'e
Members of my Committee believe that the furnit and equipment vote for Phase I should be kept at the approved sum of $30 million as expenditure on this alloca- tion is again subject to close supervision by, the Committee. The professional fees will need to be kept at "the approved $9 million for all work done by the architects and professional consultants. The revised estimated total for Phase I is therefore $114 million.
19.
As a result of the anticipated savings from Phase I, the amount to be voted for Phase II need only be $22.4 million, i.e. the estimated cost of $37.4 million in paragraph 14 less $15 million savings.
20.
The total estimated costs for all three phases of the Polytechnic Capital Programme at current prices will therefore be as shown below. The original July 1973 prices for Phase I are shown in brackets. No similar comparison has been made for Phase II and III because these are too different in planning from the original Phases II and III.
Building
Fees
Furniture and Equipment
Total
Phase I
$ 75.Om ($ 90.0m)
$ 9.0m ($ 9.0m)
$30.0m ($30.0m)
$114.Om ($129.0m)
Phase II
$ 28.0m(a)
$ 2.2m
$7.2m
$37.4m
Phase III
$ 24.1m
$ 2.2m.
$7.2m
$33.5m
Total
$127.1m
$13.4m
$44.4m
$184.9m
Note: (a) Including $4m. for consequential moves.
21.
The revised estimated total capital expenditure for achieving the student number target of 8,000 at $184.9m is $62.1m less than the forecast amount of $247m. earlier requested by the Committee for buildings, engineering. works and fees (but excluding furniture and equipment) or of $115.1m less than a total of about $300m. if furniture and equipment are included. The revised estimate is therefore a substantial reduction of 38% from the originally estimated total. This has been mainly achieved by planning for improved space utilisation but also by close control of building standards.
}
/Summary