Finance and Accounting
Office of the Controller
Departments
- Finance & Accounting
- Business Operations
- Campus Reservations & Records Management
- Procurement Services
- Student Financial Services
Related Links
Office of The Controller
Academic Building V
10501 FGCU Blvd. South
Ft. Myers, FL 33965-6565
Construction Accounting
The role of Construction Accounting is to establish accounting guidelines for all University remodeling, renovations, and new building construction that are consistent with State, Federal and generally accepted accounting principles. This section references the procedures and guidelines for the State University System Construction Accounting as described in FS Chapter 1013. Each University is responsible for recording, processing and reporting of construction transactions in accordance with applicable laws, rules and regulations.
Any construction of a building in which the entire work is new or an entirely new addition connected to an existing building.
Remodeling
The changing of an existing facility by rearrangement of space and their use and included but not limited to, the conversion of a classroom into a laboratory or the conversion of a closed plan arrangement into an open plan arrangement.
Maintenance & Repair
The upkeep of education and ancillary plants excluding renovation and including but not limited to, roof or roofing replacement of membrane or structure, repainting of interior or exterior surfaces, resurfacing of floors, repairs of hardware, furniture or equipment, electrical fixtures, plumbing fixtures, and repair or resurfacing of parking lots, roads and walkways.
Major Construction
Projects for which the estimated cost is greater than $500,000, classified as the following:
- Projects funded as line items by the Legislature using the following funding sources
PECO or Public Education Capital Outlay
CFMTF or Capital Facilities Matching Trust Fund - Projects funded from University Direct Support Organizations such as the University Foundation and Financing Corporation
Minor Construction
Projects for which the estimated cost is $500,000 or less, classified as the following:
- Projects funded by the Legislature in its aggregate appropriations such as deferred maintenance, remodeling, renovation, maintenance, repairs and site improvements.
- Projects funded as line items by the Legislature
- Projects funded from University funds such as Auxiliary or Grant funds
Fixed Capital Outlay
Fixed Capital Outlay refers to real property (land, buildings, fixed equipment, structures, etc), that include additions, replacements, major repairs, and renovations to real property which materially improves or changes its functional use.
