All University facilities are considered Fixed Assets for purposes of financial accounting. As such, all construction information and direct and indirect costs which are expended to create or alter the asset must be documented to provide a complete and auditable accounting of the action.

This policy applies to all facilities owned or leased by West Virginia University.

Budget officers authorizing expenditures to alter, upgrade, or create a facility (land, buildings or rooms owned or occupied by West Virginia University) are required to provide accurate costing and project information within 30 days after completion. Budget officers must create a separate Area/Org for EACH project costing $25,000 and above. Alternative procedures for reporting a series of small projects may be developed. A single project area/org should be deactivated once total expenses have been paid. Donated manpower, materials or fixed equipment that alter or upgrade facilities must be reported with documentation related to the cost.

Information shall be provided for dollars expended to alter or upgrade land, buildings, rooms, and/or utility or networking wiring, etc. Please note that costs for maintenance of present facilities should not be reported/paid from any project area/org.

The data is used for reporting to various agencies. Failure to supply this information results in inaccurate data being sent to Federal and State agencies, including the National Science Foundation, and the State Board of Risk Management.

Procedure development rests with Physical Plant Planning, Design and Construction.

The responsibility for implementation of this policy rests with Physical Plant Planning, Design and Construction. Physical Plant, at 293-4357 or P.O. Box 6570, is available to answer questions or provide additional information regarding this policy.

The responsibility for interpretation of this policy rests with the Director of the Physical Plant.

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