Construction Accounting FAQs

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.

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.

The Board of Governors has approved the use of E&G funding sources in various circumstances. 

Link to the Regulations can be found here:  https://www.fa.ufl.edu/wp-content/uploads/2021/01/BOG-Regs-update-for-01272021_Brenda-Harrell.pdf  

Current E&G Funding 

• Can be used for projects that must be less than $1,000,000 in total project costs; maintenance, repair, renovation, remodeling, and demolition of existing educational facilities and general site improvement OR campus infrastructure to improve compliance. 
• Can NOT be used for New Space. 

Carryforward E&G Funding 

• Minor Carryforward projects – Can be used for projects that are less than $2,000,000 total project costs; maintenance, repair, renovation, remodeling, and demolition of existing educational facilities and general site improvement OR campus infrastructure to improve compliance; as well as replacement of facilities that are less than 10,000 gross square feet. 
• Major Carryforward projects – Can be used for projects that exceed $2,000,000 in these specific criteria: can complete a PECO funded project; A renovation, repair, or maintenance project with a total cost between $2 million and $5 million; A remodeling or infrastructure project, including a developmental research school, with a total cost between $2 million and $10 million; Repair or replacement of facilities due to damage caused by a natural disaster. 
• Can NOT be used for New Space unless it is approved by the BOG for the completion of a PECO funded project. 

The below funding sources requires prior approval to be used for construction purposes:

UF Funds 211 (Indirect Cost)

• Approval Required by Stephanie Gray slgray@ufl.edu

UF Funds 212 (Contracts and Grants Residual Funds)

• Approval Required by Tiffany Schmidt tcasi@ufl.edu

UF Fund Code 213 (UFRF Allocations Royalty) and 275 (UF Strategic Fund)

• Approval Required by Julie Rhee jrhee@ufl.edu

UF Fund Code 143 (Auxiliary Enterprise-Teaching and Technology Fund)

• Approval Required by Barbara Bennett bbennet@ufl.edu

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

UF Funds 212 (Germplasm Royalties), 221, 222, and 223

• Approval Required by Kat Carter-Finn kfinn@ufl.edu

No.  This account code is restricted to Construction Accounting funds only (UF Fund Codes 500-599) for use by Construction Offices (Planning, Design, Construction; Facilities Services; IFAS Facilities Services; and Construction Accounting).

No.  Window cleaning is not repairing a building.  Please use account code 719100 (Custodial Services).

Unless the project is supported by state appropriated funding source (PECO), furniture should not 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).