Accounting for Construction and Renovation Projects
For projects managed by departments a new project/grant should be requested through the eform process available on the Shared Services Center website.
Expenditures for capital projects must be recorded in one of the university capital funds:
- 80000 - Construction Campus
- 80500 - Construction Hospital
Expenditures must be correctly identified by the use of account codes to indicate whether or not the expense can be capitalized or considered an asset. A capital expenditure is incurred when money is spent either to buy or fix assets or to add value of an existing asset. A noncapital expense would be considered an expense necessary to complete the project but does not increase the value of an asset.
A limited number of capital and noncapital expenditure accounts are available for use. The following accounts are most commonly used:
|610000 (Bldgs - General Contracts)||610775 (Plant Noncapital Items)|
|610450 (Bldgs - Fees)||610875 (Furniture - Noncapital)|
|610600 (Bldgs - Umtel Charges)||610885 (Noncapital ITCom Charges)|
|621450 (Rebilled - Natural Gas)||610890 (Noncapital Fees)|
|621540 (Rebilled - Water & Sewer)||614000 (Equipment)|
|621630 (Rebilled - Electricity)||614210 (Equip - Upgrade Existing Equip)|
|622230 (CPP - Steam Distribution)||614390 (Computers - Under $5,000)|
|622290 (CPP - Electric Distribution)|
|622320 (N Campus - Electric Dist)|
A complete list of valid accounts is available in the Resources section of this page.