Project Accounting maintains an internal Capital Project System to provide services relating to authorizations, commitments, project expenditures and budget tracking to monitor the financial status of Capital Projects.
Once a Project Approval Request (PAR) for a project has been approved, we work with the Division of Financial Affairs (DFS) to establish a capital project account. A notice to the Project Manager advising them of the project account and ID numbers is issued and a meeting, as needed, is held to discuss budget line items to be entered into the Capital Project System.
On a monthly basis the following services are provided:
- Issuance of job orders
- Payment of invoices
- Committing of contracts
- Input of charges into the CP system for items such as:
- Procurement Card Transactions
- Off Line Payments
- Purchase Orders
- Municipal Fees
- CIT Charges
- Utilities Charges
- Red Runner Charges
- Journal Entries
- Travel Reimbursements
- Preparation of purchase orders including receiving, approving and releasing of merchandise & payments
- Budget reporting
- Reconciliation of project account
- Reconciliation of Requests for Facilities Services (i.e. – RFS’s / Job Orders, etc.)
Interim meetings with Project Manager, Construction Managers & Project Coordinators are conducted as needed.