- Senior Manager
- Room 300, ASB, Busch Campus
- (732) 445-1159
Plant Funds
Plant Funds maintains accounting control over the following accounts:
| 0-71500 - 0-79999 7-71500 - 7-79999 |
Unexpended Plant Funds - Funds to be used for the construction,
renovation and acquisition of long-lived assets for University purposes, funds set aside
for renewal and replacement of University properties, funds related to debt retirement and
funds already expended for plant assets. |
| 0-81500 - 0-81799 |
Debt Retirement - Funds held with a trustee for repair and replacement
reserve requirements associated with the University’s debt. |
| 0-82000 - 0-88999 |
Property and Buildings - These accounts track our University owned
land and buildings. |
| 0-89501 - 0-89999 8-89501 - 8-89999 |
Construction in Progress -These accounts track all expenses of
on-going construction at the university that will be capitalized. |
The Plant Funds department is responsible for the
following:
- Accounting for all University debt, making debt service payments, and ensuring the
University complies with all regulations and stipulations required by the various debt
instruments. Any questions related to debt should be directed to (732)
445-1160.
- Capitalizing completed projects so that the related permanent asset accounts are
properly updated. Any questions related to capitalizations of completed projects should by
directed to (732) 445-1162.
- Billing the State, Federal Agencies, and other external sources for funding related to
University construction projects. Any questions related to construction account billings
should be directed to (732) 445-1160.
- Tracking all University moveable equipment and ensuring that it is properly capitalized.
Any questions regarding moveable equipment capitalizations should be directed to
(732) 445-1162.
- Processing all plant fund requisitions which begin with a "C". These
requisitions must be obtained from the plant funds department. All "C"
requisitions charging #7-7xxxx and #8-8xxxx accounts should be forwarded for funds
approval. After funds approval, invoices are forwarded to
purchasing.
- Processing of vendor invoices and other internal charges (i.e. U-charges, M-charges,
etc) related to plant fund accounts. Invoice payments against any plant fund "C"
requisition are handled here. Any questions related to vendor invoice payments should be
directed to either (732) 445-2100 (for vendors beginning with A-K) or
(732) 445-4670 (for
vendors beginning with L-Z).
- Recording the activity for lease purchases and term leases and reporting such
information to the Internal Revenue Service on forms 8038-G and 8038-GC. Any questions
related to leases should be directed to (732) 445-1162.
- Recording of property, buildings and equipment is at cost at the date of acquisition, or
fair market value on the date of gift if donated, and are shown net of accumulated
depreciation. Depreciation is recognized as a reduction in the Net Investment in Plant
Fund Balance using the straight line method over the assets’ estimated useful lives,
ranging from 5 to 50 years. Any questions related to depreciation of property and
buildings should be directed to (732) 445-1162, and those related to depreciation of
equipment should be directed to (732) 445-2118.
Property Management
The Property Management department is located in Building 4088 on the Livingston Campus. The department is
responsible for the following:
- Maintaining the University’s capital equipment records and conducting physical
inventories of capital equipment. University capital equipment is defined as all movable
equipment with an original cost greater than $5,000 and a useful life of five years or
more.
- Tracking all University vehicles and ensuring that they have their proper titles,
registrations, and license plates.
- Valuation of equipment donated to the University and reviewing all supporting
documentation. This includes coordinating the recording of gifts with the University
Accounting department and the Rutgers Foundation.
For additional policies and procedures concerning equipment, materials,
and supplies, see the University’s website for Regulations and Procedures section
6.1.15. Any questions related to the Property Management department should be directed to
(732) 445-2118.
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