What are our current initiatives?
- To stay current and enforce all state, Board of Trustees and Board of Governors regulations
What are the current capitalization guidelines?
Currently the capitalization of any construction project is anything that exceeds $249,999; or is greater than 25% of the building value; or is new space.
What is a quick response project?
A quick response project is a construction request that does not meet the capitalization threshold, is only one vendor, and does not require an architect.
When can we use Education and General (E&G) funding sources (UF fund codes 101-109 and 175 APPROP)?
- Construction Accounting is currently awaiting final guidance from the Board of Governor’s and State Legislature to determine the decisions on this funding source.
- E&G Fund sources are never allowable for new space unless specifically appropriated for that purpose.
What funding sources require prior approval to be used for construction projects?
The below funding sources requires prior approval to be used for construction purposes:
- UF Funds 211 (Indirect Cost) and 212 (Contracts and Grants Residual Funds)
- Approval Required by Stephanie Gray email@example.com
UF Fund Code 213 (UFRF Allocations Royalty) and 275 (UF Strategic Fund)
- Approval Required by Julie Rhee firstname.lastname@example.org
UF Fund Code 143 (Department of Continuing Education)
- Approval Required by Barbara Bennett email@example.com
UF Fund Code 201 (Federal Sponsored Contracts and Grants); 209 (Non-Federal Sponsored Contracts and Grants); and 214 (Clinical Trial Sponsored Grants)
- Approval Required by the appropriate Contracts and Grants Accountant http://research.ufl.edu/about/contact.html
Can I use account code 787000 (Construction Work In Progress)?
No. This account code is restricted to Construction Accounting funds only (UF Fund Codes 500-599).
Is Window Cleaning Building Repairs and Maintenance?
No. Window cleaning is not repairing a building. Please use account code 719100 (Custodial Services).
Should furniture be included as part of the construction project?
Unless the project is supported by state appropriated funding source (PECO), furniture should not be included as part of the construction project.
Should art be included as part of the construction project?
No. Unless the art is part of the building, art should not be included as part of the construction project. If this is a new building, art that is not part of the building should be coded to 789100 (Art and Museum Artifacts if more than $4,999) or 732900 (Office Equip & Furniture less than $5,000).