What are AFEs?
NW Mailing List
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Thu Sep 17 09:31:36 EDT 2015
Common term. My company used it as well in the same context. Signed by the manager with financial limit of authority (+10%) prior to seeking bids for the work.
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From: NW Mailing List <nw-mailing-list at nwhs.org>
Date: 17/09/2015 7:14 AM (GMT-05:00)
To: NW Mailing List <nw-mailing-list at nwhs.org>
Subject: What are AFEs?
Someone searching the Archives database asked "What are AFEs"?
Here was my reply:
AFE stands for "Authorization For Expenditures." AFEs were approvals for
large capital expenditures that required either the company president's
signature (making it a P.A. - Presidential Authorization) or a vice
president's signature (V.P.A - Vice Presidential Authorization). For the
most part these are accounting documents showing how much was authorized
to be spent and how much the project actually cost.
Sometimes AFEs will contain drawings or maps showing the work to be done.
AFEs can be useful for determining when some change was made to the
railroad or equipment and how much it cost.
Other details spell out related agreements, who is paying for what,
motivation for the project, and when old structures and equipment were
first built or purchased.
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