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ACCOUNTING FOR CAPITAL PROJECTS Financial Policies and Procedures for the Capital Project Delivery Process Office of the CFO Project Accounting Kimberley Rourke Manager, Project Accounting Correen Baker Fiscal Manager Lynn Chapdelaine Accountant Tammie Corioso Accountant Financial Policies and Procedures for the Capital Project Delivery Process • Project Initiation • Procedures for Design and Construction • Other Accounting Procedures • UCONN 2000 Project Audits Project Initiation • Authorization of Capital Budget • Project Budget Approval • Setting Up Capital Projects Procedures for Design and Construction • • • • • • Prequalification Contract Approval Purchase Orders to Vendors Authorizing Use of Internal Vendors Greensheet Log Approval and Payment of Vendor Invoices from a Purchase Order • Paying an Internal Vendor • Approval and Payment of Legal Invoices Other Accounting Procedures • Payroll Allocation • Project Financial Close-Out • Project Reporting Financial Policies and Procedures for the Capital Project Delivery Process • Project Initiation • Procedures for Design and Construction • Other Accounting Procedures • UCONN 2000 Project Audits Authorization of the Capital Budget • Presented annually to the University’s Board of Trustees Includes: 1. Proposed “named projects” with amounts, descriptions, funding analysis 2. Deferred Maintenance/Code/ADA Renovation Lump Sum project list 3. Phase III Preliminary Outline by Fiscal Year (“Phasing Outline”)