* This information replaces FIS 603 & 603-03/04 Establishing Construction Plant Funds

 

Effective: 01/01/2003
Revised: 12/27/2012

Any project that meets the capitalization requirements shown in FIS 603-01 must have plant fund(s) established.  Costs for these projects cannot be paid from non-plant funds.  The Oregon University System’s (OUS) Facilities Division established the FIS Plant Fund Form to provide institutions with a means of establishing a FUND for capital construction, capital improvement and capital repair projects.   Due to various requirements, such as legislatively approved capital construction expenditure limitations and OUS Controllers Division reporting to Salem, it is necessary when establishing a FUND for construction projects (8xxxxx) that the document is completed/approved by OSU Facilities Services and sent to and reviewed by both the OUS Facilities Division and the OUS Controllers Division. 

Related FAQs

How are Plant Funds Established?

Effective: 01/01/2003
Revised: 08/26/2010

  1. Request that a plant fund be established.  This request must identify ALL the funding sources and the amount from each so that the correct type of plant fund(s) can be established.  Each funding source must be set up separately (bond funds, budgeted/general funds, auxiliary funds, gift funds).  Send the request to the Facilities Services Controller who will complete the necessary paperwork.  If the project has been approved by the legislature as part of the capital construction program, use the same name as submitted and approved by the legislature.  The names should not exceed 35 characters in length.  Each individual project financed by a particular source of revenue will require a separate FUND with a Fund Code that rolls up to the OUS level Fund Code for that revenue source.  The FUND title will be assigned by the institution.  It is a descriptive title that may be the same as the project name, or a more descriptive name.
  2. The FS Controller will forward the request to the OUS Facilities Division.  A copy will be sent to the OUS Controller’s office with a notation that the original was sent to the OUS Facilities Division.  Staff in the OUS Facilities Division will review and approve the request.  The approved forms are sent to the OUS Controllers Office for Index/Fund (FOAPAL) setup in Banner.  The project number (in the grant code field) will begin with 9xxxx.  The Fund will begin with 8xxxxx. 
  3. The FS Controller will provide the project number, fund number and new index number for the plant fund to the FS project manager, and requesting parties. 
  4. The FS Controller will transfer monies as required by the plant fund (8xxxxx) process, unless they are gift funds.  Gift fund transfers are the responsibility of the funding department/unit.  This includes funds from the OSU Foundation.

Use of Correct Account Code

Effective: 01/01/2003
Revised: 01/14/2010

  1. Account codes 403xx – 407xx CANNOT be used on general funds.  They MUST be used on Plant Funds beginning with 8xxxxx.
  2. Funds with Program Code 90001-90005 are to be used for expenses that are for a new facility (also includes acquisition of facilities), and must be capitalized.
  3. Program Code 93000 is used for Plant improvement, remodeling or similar improvements to existing facilities that extends the life of the facility.  These expenses are capitalized.
  4. Program Code 97000 includes repair and deferred maintenance projects that do not extend the life of the facility, but rather are required to keep it functional.  These projects are not normally capitalized.
  5. The 4xxxx account codes are for capitalized expenses.
  6. The 23xxx account codes are non-capitalized repair and maintenance expenses.