1
|
2
Sustainable
F2
$ 106,050
|
3
F TTL
$5,356,050
|
4 5
SOCENV1 SOCENV2
Potential Potential benefits to benefits to customers society
$ 101,325
$ 8,925
$ 148,225
$ 645,575
$ 525
$ 20,650
|
6
C TTL
Combined
$5,356,050
$ 101,325
$ 8,925
$ 148,225
$ 645,575
$ 525
$ 20,650
|
Traditional
|
F1
|
$5,250,000
|
$5,250,000
|
$ 106,050
|
$5,356,050
|
$ 21,175
|
$6,281,275
|
$3,600,000
|
$ 100,000
|
$3,700,000
|
|
$3,700,000
|
$1,650,000
|
$ 6,050
|
$1,656,050
|
$ 904,050 $ 21,175
|
$2,581,275
|
0.46
|
|
0.45
|
0.24 0.01
|
0.70
|
$1,250,000
|
|
$1,250,000
|
|
$1,250,000
|
|
|
|
$ 904,050
|
$ 904,050
|
|
|
|
$ 21,175
|
$ 21,175
|
$ 50,000
|
$ 1,000
|
$ 51,000
|
|
$ 51,000
|
$ 100,000
|
|
$ 100,000
|
|
$ 100,000
|
$ 250,000
|
$ 5,050
|
$ 255,050
|
|
$ 255,050
|
$1,650,000
|
$ 6,050
|
$1,656,050
|
$ 904,050 $ 21,175
|
$2,581,275
|
TABLE 4.4: Expanded Value Added Statement – Sustainable Building Co. (SBC)
SUSTAINABLE BUILDING CO.
Expanded Value Added Statement For Project ABC
Direct outputs Sales
Indirect outputs Energy value Water value
Commissioning value Productivity & health value Waste value
Emissions value
Total outputs
External Goods & Services
Value Added Created
Ratio of VA to Ext G&S
Employees Wages/benefits Customers
Society Reduction in waste and
emissions Taxes
Organization Depreciation Profit
Value Added Distributed
Value Added
The amount of value added is calculated by subtracting the amount of externally purchased goods and services from the value of the goods and services produced.
Ratio of Value Added to Purchases
The ratio of value added to purchases, indicated in Table 4.4, is calculated by dividing the value added by the cost of external goods and services. This ratio indicates that, for every dollar expended on goods and services the organization generated 0.70 in value added. As noted, the Expanded Value Added Statement includes an estimate of the future value of items such as reduced energy use, water use, and emissions levels; decreased operating and maintenance expenses; increased occupant health; and increased worker productivity. If those items had not been included, the ratio of value added to purchases would have been 0.45 indicated in the “financial” column. Therefore, the inclusion of non-monetized items increases this ratio by over 56 percent.
The stakeholder-based approach of the Value Added Statement differentiates it from most other forms of financial statements that are oriented toward shareholders. For the statement of distribution, the value added created by the organization is distributed to the stakeholders in its entirety. Stakeholders are selected on the basis of their contribution to the viability of the organization and its values. For a Value Added Statement, the stakeholders suggested by accounting regulatory bodies normally are employees, government, investors, and the organization itself. For purposes of the Expanded Value Added Statement of SBC, one additional stakeholder was identified—customers; and one was modified—the stakeholder government was changed to the stakeholder society.
Table 4.4 presents the distribution of value added for these five stakeholders and also lists the items associated with each stakeholder.
Employees
The value added distributed to the stakeholder employees lists their wages and benefits at $1,250,000.
Customers
The building owner or lessee received a portion of the value added created through financial benefits to be received over the life of the building ($904,050). These include reduced energy and water costs, reduced operating and maintenance expenses ($258,475); and increased productivity of employees ($645,575).
Society
The stakeholder referred to as society received a portion of the value added created through the reduction of emissions into the environment estimated according to the research done by Kats et al. (2003) to be $21,175. The stakeholder Society also received value added from payments made to the public sector through taxes ($51,000).
Value added distributed to the stakeholder organization was for $100,000 for the depreciation of capital assets and $255,050 from an operating surplus.
Summary of EVAS
In total, the value added distributed corresponds to the value added created.
Where the items were limited to those on audited financial statements, that amount was
$1,656,050; where the items were expanded to include non-monetized social and environmental impacts, the amount was $2,581,275. Figure 4.1 shows this in graphic form.
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