The Plant Accounting department of the University Treasurer’s office provides funding (internal loans) to university units for the purposes of purchasing, improving, replacing, and renewing long-lived assets, (e.g., buildings, land), for institutional purposes. They also manage accounts that record repayment of those funds. Some of the accounts Plant Accounting manages are described below. For more information about internal debt financing, see Internal Debt.
Plant Accounting Contacts
Vivian Rappleye, (607) 255-3380
Ann Hill, (607) 255-9463
uco-plantacctg@cornell.edu
Construction in Progress (CIP) accounts (fund group 335)
These accounts are used to fund capital projects. Units must submit an approved project approval request (PAR) before Plant Accounting can establish such an account. Contracts and Capital Projects staff request CIP accounts for endowed projects, while individual colleges request accounts for contract college projects from Plant Accounting directly.
Plant Renewal and Replacement accounts
These accounts are used for equipment and service facility reserves.
Gift accounts
These accounts include temporary and unrestricted accounts that are used to fund CIP accounts.
Internal Loan (Liability) accounts
These accounts are used to capture payments for internal loans made to departments to fund construction or renovation projects. Monthly principal and interest payments for those loans are charged to the department's account(s), and Plant Accounting provides T-Value Amortization Schedules to departments to help them reconcile those transactions.
