Hubbell Policies

responsible to review the AFE approval workflow of their BU and ensure it is aligned with the current version of their SAM and has been updated for changes in personnel. That review is to be documented as a monthly Blackline task. If additional approvers are required, but are not within the SAM, they can be added on a per AFE basis. Any AFE greater than $200,000 involving a footprint action (i.e., closure, relocation, or expansion of facilities, or a new, renewal or termination of a lease) must include the Group VP of Operations in the approval workflow. It is the responsibility of the BU controller to ensure the Group VP Operations is manually added to an footprint AFE that meets this threshold.

Once approved by all required approvers, the AFE originator is notified.

ADMINISTRATION Roles and Responsibilities. To establish guidelines for when an AFE is required and set forth approvals and procedures to be followed prior to funds being committed or disbursed.

The Business Unit Controller is responsible to ensure compliance with this procedure.

The Business Unit Controller, or delegate, is responsible for submitting a Servicedesk ticket to make any change in the AFE approval workflow.

The AFE templates on the Wire will be reviewed annual by the Corporate FP&A team to ensure consistency in the assumptions, definitions, and information required.

Monitoring, Evaluation and Review. A post-completion evaluation of all capital projects over $1,000,000 will be made by platform finance personnel within 1 year of the first anniversary of the asset having been placed in service. The evaluation should indicate whether project savings and other key assumptions are proceeding according to expectation. Internal audit will review the post-completion evaluation on a discretionary basis. Appropriate documentation should be available for review by Internal Audit.

Exceptions. None

ACCOUNTING AND DISCLOSURE

None

REPORTING

None

DEFINITIONS AFE Authority for Expenditure shall mean the document is required to be approved before funds are committed for disbursement according to this policy.

RELATED DOCUMENTS (Policies, Guidelines, Standards) • Standard and Special Charges AFE Templates • FIN-36 - Property, Plant and Equipment Policy • FIN-07 - Capitalization of Property, Plant and Equipment Policy • FIN-43 - Restructuring and Related Costs Policy

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