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Procedure: 9-44

Effective: July 1, 2002

Owner: Office of the University Comptroller

Latest Revision:

Creating Capital Asset Projects

Procedure Steps

Scope | System References | Policy | Responsibility | Distribution | Ownership

Scope

This procedure covers recording the cost and related depreciation for land and building.

This procedure does not cover recording the cost and related depreciation of equipment.

System References [Top]

Office of the University Comptroller

Commonwealth Accounting Policies and Procedures (CAPP) Manual: Topic 30310 (pdf file), Section 500.

Policy [Top]

Policy IX.D.14 -- Guidelines for Capital Assets

Responsibility [Top]

Office of the University Comptroller is responsible for maintenance and administration of this procedure. Office of the University Comptroller, the University Budget Office, and Facilities Management are responsible for ensuring that this procedure is followed whenever capitalized projects are created or funded.

Distribution [Top]

Fiscal Adminstrators

Ownership [Top]

Office of the University Comptroller is responsible for ensuring that this procedure is necessary, reflects actual practice, and supports University policy.

Procedure Steps [Top]

This procedure is to be followed whenever a new capital asset project is created.

New Capital Outlay Projects with Estimated Costs of
 $250,000 or greater
or
Renovation Projects with estimated costs of $500,000 or greater
Expenditure Project: Revenue Project:
Creates Project:  Budget Dept Same
Award Type: SP
Project Mgr: Facilties Mgmt
Award Mgr: Budget Dept
GM Award Installment: Budget Dept Installs entire budgeted amount
GM Funding Project: Budget Dept
GM Award Budget by Task: Facilties Mgmt
Type of Project on template:                 Capital Capital
Project Category: Expenditure Function Same
Project Class Code: 9700 9701
Code Description: Capital Project-Unexpended Plant Capital Project-Revenue
Interfaces with State as: 99800 Capital Projects Same
F & A Cost Code: 09-Other Expenditures Same
Award Purpose Fund Source: 5005/5040/5065/5070/5075
Fund Source Interfaces with State as: 0100/0302/0303/0306/0309
Award Purpose Fund Sources for bonds: 5095/5100/5105
Interfaces with State as: 0813/0815/0817 Debt service-Constr costs on bond funds
Initial Funds Tfr in GL: Office of the University Comptroller does GL entry for funds Tfr to Revenue proj
Renovation Projects with estimated costs of $250,000
and less than $500,000
Projects will be set up as PAP's where Revenue Project is the same as Expenditure Project
For SP Non-Capital Outlay Project
Creates Project: Department creates project and attaches project create form to newly created project. Project create form is Faxed to Manager of Plant Funds, Office of the University Comptroller.
Award Creation and Linkage: Manager of Plant Funds creates the award and links the award to the project. 
   
Award Type: SP
Project Mgr: Facilties Mgmt
Award Mgr: Office of the University Comptroller or selected departments
GM Award Installment: Office of the University Comptroller or selected departments for entire budgeted amount
GM Funding Project: Departments
GM Award Budget by Task: Facilties Mgmt
Type of Project on template:                 Capital
Project Category: Expenditure Function
Project Class Code: 6450
Code Description: Major Repairs and Renovations
Interfaces with State as: 10790 Operation and Maintenance of Plant, Other
F & A Cost Code: 09-Other Expenditures
Award Purpose Fund Source: 5005/5040/5065/5070/5075
Fund Source Interfaces with State as: 0100/0302/0303/0306/0309
Initial and ongoing Funds Tfr in G/L: Department
For LP Non-Capital Outlay Project
Creates Project:  Department creates project and attaches  project create form to newlyc created project.  Project create form is Faxed to Manager of Plant Funds, Office of the University Comptroller.
Award Creation and Linkage: Manager of Plant Funds creates the award and links the award to the project. 
   
Award Type: LP
Project Mgr: Facilties Mgmt or Department
Award Mgr: Office of the University Comptroller or selected departments
GM Award Installment: Office of the University Comptroller Dept-Plant Fund Mgr pr selected departments for entire budgeted amount
GM Funding Project: Departments
GM Award Budget by Task: Facilties Mgmt
Type of Project on template:                 Capital
Project Category: Expenditure Function
Project Class Code: 6450
Code Description: Major Repairs and Renovations
F & A Cost Code: 09-Other Expenditures
Award Purpose Local Fund Sources: 5045/5055/5110/5215
Does not Interface with state: 9999
Initial and ongoing funds Tfr in G/L: Department or, if Gift fund, Development

End of Activity

 


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