Plant Funds – Accounting, Reporting, Capital Budgeting, Forecasting, & Planning

Overview:

The team has three areas of responsibility

  1. Accounting - Oversee the Plant Fund group; includes Unexpended Plant (36-fund), Reserves for Renewal and Replacement (36-fund), Investment in Plant (39-fund), and Retirement of Indebtedness (UT System); Equipment and Intangible Assets are handled separately by the Office of Accounting Inventory section   
  2. Reporting – Preparation of Supplemental Schedules (Land, Building, Improvement, and Infrastructure) for the Annual Financial Report (AFR)
  3. Budget/Finance - Provide analysis and compliance for capital projects and related debt

 

Primary Business Functions (Accounting):

  1. Transactions – Process project funding (VTA document), code invoices for OFPC (Office of Facilities Planning and Construction) projects, prepare cash requisitions for bond proceeds, and journal entries
  2. Account Maintenance – Initial set-up for 36-fund and 39-fund accounts; maintain sub accounts, object code audit groups, & report codes; overdrafts
  3. Year-end accounting transactions – Prepare various year-end entries for 36 and 39 fund groups.

 

Primary Business Functions (Reporting):

  1. Annual Financial Report (AFR) – Prepare 6 supplemental schedules (S-11a Land, S-11b Buildings, S-11c Facilities & Other Improvements, S-11e Construction in Progress, S-11f Infrastructure, S-8 Recap of expenditures) as well as to provide information for various supporting schedules and primary statements
  2. Private Use Reporting – Prepare Annual Private Business Use reporting to the Internal Revenue Service (IRS) to be submitted to the UT System.
  3. Special Projects -  Prepare various financial reports and analysis for both internal and external users

 

Primary Business Functions (Budget/Finance):

  1. Capital Budgeting –Funding, cash flow, management reporting and compliance with Board of Regents (BOR) and Texas Higher Education Coordinating Board (THECB) rules 
  2. Capital Gift Administration – Construction gift tracking and compliance
  3. External Debt – Maximize financing opportunities, IRS compliance (Arbitrage and Private Use), maintain amortization schedules, allocate debt service, and provide data for F&A (indirect cost) proposal, EADA (Athletics) Report, and UBIT calculations
  4. Forecasts and Cash Position – Multi-year forecasts used for management decisions and debt capacity reporting/analysis
  5. Loans – Administration of internal loans and equipment loans obtained from UT System
  6. LERR (Library, Equipment, Repair, and Rehabilitation) and Faculty STARs (Science and Technology Acquisition and Retention) – Account setup, reporting, compliance, and requisition of bond proceeds
  7. Utilities – Participating in the planning for growth (increased consumption due to new space) and analysis of market conditions of natural gas