Fiscal Operations Manual
Section 600: Plant Funds & Fixed Assets
Effective: 09/01/2001
Revised: 03/16/201

 

WARNING:  THESE ARE NOT CURRENT POLICIES!!

Please see current Fiscal Policy Manual for current policies

 

To ensure that funds are set aside from Facilities and Administration (F&A)/Indirect Cost recoveries on sponsored grants and contracts, and appropriately distributed for use.

These funds may only be used to acquire or improve research facilities including:

  1. liquidation of a principal of debts incurred to acquire assets that are used directly for organized research activities, or
  2. payments to acquire, repair, renovate, or improve buildings directly used for organized research."

Oregon State University’s process for distribution of building use credits (BUC) is:

  1. Total funds available are determined by the Office of Budget and Fiscal Planning based on prior year actual recovery.
  2. Any recurring institutional commitments for allowable projects are identified and removed from further calculations.
  3. Beginning in FY02, a portion of the BUC Reserve is allocated for further distribution by the Research Office.  This amount is removed from further calculations.  The Vice President for Research will distribute these funds.  The Research Office will notify awarded units of projects funded.  Copies of the notification letter will be forwarded to the Director of Facilities and the Associate Director of Business Affairs.  Transfer of funds from the BUC Reserve is coordinated between Specialized Admin Services and Financial Accounting U Analysis (FA&A) within Business Affairs.
  4. The remaining funds are available to be distributed on a pro-rated basis according to their locus of generation into the F&A recovery pool.
  5. The Office of  Budget and Fiscal Planning will notify units (colleges) of the approximate funds available.
  6. Units will send in a project request list to the Research Office.
  7. The Research Council will review the project list to determine qualification.
  8. The Research Office notifies units of the qualified projects and amounts. Copies of the notification letter are forwarded to the Facilities Controller and Business Affairs.   The Facilities Controller completes a request to establish an 802xxx Plant Fund and ZARWxx index for each unit (college) receiving BUC funds for the fiscal year and forwards them to FA&A.  FA&A transfers the funds from the BUC Reserve Fund to the individual unit (college) BUC funds.  The amount of the transfer is indicated on the Plant Fund set up sheet.
  9. FA&A will periodically complete a review of the use of 802xxx building use credit funds and the current balance.