FINANCIAL AND ECONOMIC SUBSTANTIATION OF THE INVESTMENT PROJECT

Table 1

Total investment costs and sources of financing for the investment project

(currency of payment)

No. Types of investment costs and sources of financing Base period (year) 1 For the periods (years) of the investment project implementation Total for investment project
1 2 t
I quarter II quarter III quarter IV квартал All in all for the year
I. Investment costs
1 Capital expenditures (without VAT):                    
1.1 pre-investment costs  (specify)                    
1.2 construction and installation work                    
1.3 acquisition and installation of equipment , including transportation costs                    
1.3.1 including customs payments attributed to the increase in the value of fixed assets                    
1.4 pre-production costs (specify)                    
1.5 other costs (specify)                    
2 Total capital costs excluding VAT – project cost (the sum of lines 1.1 - 1.5)                    
2.1 of them, capital costs in freely convertible currency                    
3 VAT paid on capital expenditures                    
4 Growth of net working capital   х х х х          
5 Total general investment costs  with VAT (line 2 + line 3 +line 4)                    
II. Sources of financing of investment costs
6 Own funds - total                    
  including:   х х х х          
6.1 contribution to the statuary fund (indicating the source and type of contribution)                    
6.2 Funds from the activities of the organization                    
7 Borrowed and raised funds - total                    
  including:                    
7.1 foreign loans - total                    
7.2 domestic credits in foreign currency                    
7.3 domestic loans in national currency                    
7.4 loans from other organizations                    
7.5 investor loans                    
7.6 financial leaseа (leasing)                    
7.7 other borrowed funds, including those using instruments of the securities  market  (specify)                    
7.8 State participation                    
8 Total for all sources of financing of investment costs (line 6 + line 7)                    
9 Of the total financing of investment costs: 100 %                  
9.1 share of own funds        %                  
9.2 share of borrowed and raised funds        %                  
9.3 share of state participation        %                  

1 Amounts of investment costs, sources of financing and financial costs of the investment project for the previous period shall be indicated.

2 It shall be defined as the difference between the growth of net working capital, calculated taking into account the implementation of the investment project, and the growth of networking capital, calculated without taking into account its implementation.

3 The type and amount of state participation shall be indicated in case if budgetary funds are provided for the implementation of the project.

Table 2

Calculation of net cash flow and investment project performance indicators

(currency of payment)

No. Types of incomes and costs, the name of indicators Base period
(year)
For the periods (years)  of the investment project implementation
1 2 t
1. CASH OUTFLOW                
1.1 Capital expenditures without VAT (line 2 of Table 1)                
1.2 Growth of net working capital 
(line 4 of Table 1)
               
1.3 Interest on credits, loans and other financial costs that, in accordance with the legislation, relate to the value of investment assets not included in line 2 of Table 1                
2 Total outflow (the sum of lines  1.1 - 1.3)                
3 Flow balance (net cash flow - NCF) (line 4 - line 2)                
3.1 Net income of the organization taking into account the implementation of the investment project                
3.2 Net income of the organization without taking into account the implementation of the investment project                
4 Net income from the investment project
(line 3.1 - line 3.2)
               
5 Flow balance (net cash flow - NCF) line 4 - line 2)                
6 NCF (cumulative on line 5)                
7 Bringing the future value of money to its current value. Discount factor (at the rate of initialization __%)                
8 Discounted outflow  (line 2 x line 7)                
9 Discounted inflow (line 4 x line 7)                
10 Discounted NCF (line 9 - line 8)                
 11 Net discounted income (NDI) (cumulative on line 10)                
12 Investment project performance indicators                
12.1 net discounted income (NDI) (line 11)                
12.2 simple payback period of the investment project (line 6)                
12.3  dynamic payback period of the investment project (line 11)                
12.4 dynamic payback period  of state support (line 12 of table 3)                
12.5 internal rate of return (IRI) (line 5)                
12.6 profitability index (РI) (line 8 and line 11)                
12.7 value added for the investment project                
13 FINANCIAL AND ECONOMIC INDICATORS FOR THE ORGANIATION IN THE IMPLEMENTATION OF THE INVESTMENT PROJECT                
13.1 Return on assets                
13.2 Product profitability                
13.3 Return on sales                
13.4 Breakeven level, %                
13.5 Debt coverage ratio                
13.6 Value added per employee                

1 For the purposes of calculating the efficiency indicators of the investment project for periods (years) of its implementation, only non-negative values of the net income of the organization are accepted according to the option without taking into account the implementation of the investment project.

Table 3

Calculation of the recoupment of state support for the project

(currency of payment)

No. Types of receipts and costs Base period
(year)
For the periods (years) of the investment project implementation
1 2 t
  Outflow of funds from the budget (falling budgetrevenues):            
1 State support of the investment project            
  including:            
1.1 Falling incomes of the budget when granting privileges and preferences established by the Decree of the President of the Republic of Belarus No. 10 of August 6, 2009 “On the Creation of Additional Conditions for Investment in the republic of Belarus ” (National Register of Legal Acts of the republic of Belarus, 2009 г., N 188, 1/10912; National Legal Internet Portal of the Republic of Belarus, November 14, 2015, 1/16099), other legislative acts, including: :
privileges: :
on tax payments (in the context  of each tax, duty (fee);
on customs payments, including:
on import customs duties;
on the value-added tax charged by customs authorities;
on compensation of losses of agricultural and (or) forestry production connected with the seizure of the land plot;
on payment of a fee for the right  to conclude a lease contract for a land plot that was without holding an auction for the construction of facilities  provided for in the investment contract.
                 
1.2 Falling incomes of the budget when providing additional privileges and preferences not established by the Decree of the President of the Republic of Belarus No. 10 of August 6, 2009, other legislative acts            
1.3 State participation (specify)            
2 Total budget expenditures            
  Inflow of revenues to the budget:            
3 Increase in taxes, fees, payments paid to the budget when implementing an investment project (line 3.1 - line 3.2)            
3.1 taxes, fees, payments paid to the budget, taking into account the implementation of the investment project            
3.2 Taxes, fees, payments paid to the budget, without taking into account the implementation of the investment project            
4 Other receipts to the budget (specify)            
5 Total additional revenues to the budget for the implementation of the investment project            
6 Cash flow balance (line 5 – line 2)            
 7 Cash flow balance (cumulative on line 6)            
8 Bringing the future value of money to its current value
The discount factor (at a discount rate of  ____ %
           
9 Discounted budget expenditures (line 2)            
10 Discounted additional revenues to the budget (line 5)            
11 Discounted value of the cash flow balance (line 10 - line 9)            
12 Discounted value of the cash flow balance (cumulative on line 11)            

Table 4

Calculation of profit from sales

(currency of payment)

No. Name of indicators Base period
(year)
For the periods (years) of the investment project implementation
1 2 t
1 Proceeds from the sale of products                  
2 Taxes, fees, payments included in the proceeds from the sale pf products                  
3 Proceeds from sales  of products  (minus VAT, excises and other mandatory payments)
(line 1 - line 2)
                 
4 Conditionally variable costs                  
5 Marginal (variable) profit (line 3 - line 4)                  
6 Conditionally fixed costs                  
7 Profit (loss) from sales (line 3 -line 4 - line 6)                  
8 Other income and expenses х х х х х х х х х 
8.1 Other operating income                  
8.2 Other operating expenses                  
8.3 Profit (loss) from the current activity (line 7 + line 8.1 – line 8.2)                  
8.4 Income from investing activities                  
8.5 Expenses on investment activities                  
8.6 Income from financing activities                  
8.7 Expenses related to financial activities                  
8.7.1 Interest on long-term credits, loans                  
8.7.2 Interest on short-term credits, loans                  
8.7.3 Other financial costs                  
8.8 Other income and expenses                  
9 Profit (loss) from investments, financial and other activities (line 8.4 - line 8.5 + line 8.6 - line 8.7 + line  8.8)                  
10 Profit (loss) before taxation (line 8.3 + line 9)                  
11 Income taxes                  
12 Change in deferred tax assets                  
13 Change in deferred tax liabilities                  
14 Other taxes and fees calculated from the profit (income)                  
15 Net profit (loss) (line 10 - - line 11 +/- line 12 +/- line 13 - - line 14)                  
16 Net income                  
17 Repayment of debt on long-term credits, loans                  
17.1 Repayment of interest on long-term credits, loans that are recognized in accordance with legislation on the value of investment assets                  
18 Repayment of debt taking into account compensation from the budget of a part of interest on credits, loans 1                  

1 The data on the principal debt and interest for all long-term credits and loans are given (except for interest and other financial costs included in expenses for financial activities).