Institutional Accounts

6700-6999 Series: Capital Expenditures

6700 - Land Require Bldg  
Either the cost of land purchased or the market value of land donated to the University as of the date acquired.(All entries require a building number or other improvement number in the cost center element.)
6710 - Land Improvements Require Bldg  
(Only allowed in Plant Funds, FUND 050 with Function 70, FUND 210, FUNDS 600-740) Costs incurred subsequent to the acquisition of land that are not directly related to a particular building including bicycle racks and paths, fences, grading, landscaping, shelters, Finkbine Golf Course, Football Practice Field, Track and Field Complex, and Varsity Tennis Courts and Lighting.(All entries require a building number or other improvement number in the cost center element.)
6715 - Infrastructure Require Bldg  
(Only allowed in Plant Funds, FUND 050 with Function 70, FUND 210, FUNDS 600-740) Costs incurred to purchase long-lived capital assets that are not land improvements or a building including bridges, bus stop shelters, irrigation systems, curbs, gutters, parking lots, roads, sidewalks, wells, tunnels, campus gas lines and compressed air lines, Museum of Natural History, and helicopter landing pad.(All entries require a building number or other improvement number in the cost center element.)
6720 - Buildings Require Building  
(Only allowed in Plant Funds, FUND 050 with Function 70, FUND 210, FUNDS 600-740) The building components, additions and improvements that comprise the basic structure or function to service a building or other structure. Repair or renovation work is generally considered repair and should be coded to 6260 - REPAIR MAINT BLDG AND LAND IMP, unless it significantly adds to the estimated useful life of the building. Exclude those costs such as those due to strike, flood, fire, or other casualty, and the cost of abandoned construction. Examples include acoustical tile, air conditioning, elevators, heating systems, plumbing, roofing, external signs and wings. Contact Accounting & Financial Reporting if further clarification is necessary.(All entries require a building number or other improvement number in the cost center element.)
6730 - Non-IT Movable Equip Capitlzd  
Moveable furniture, equipment, commissioned artwork, etc. meeting the following criteria for asset capitalization as established in the University Operations Manual Section V, Chapter 12. Equipment cannot be affixed to any part of a building, must have a useful life of more than one year, not purchased for resale and cost $5,000 or more. (Credit account 7055 - Gain Loss on Sale of Cap Asset for sales of equipment.) Note: Information Technology equipment use 6731 - IT Equip Capitalized >5k.
6731 - IT Equip Capitalized >5k  
Includes:

a. Networking equipment

b. Servers

c. Storage equipment

d. Printers

Note: Non-IT Equipment use 6730 - Non-IT Movable Equipment Capitalized.

6737 - Movable Equip Capital Lease  
Moveable furniture, machines, commissioned artwork, etc. meeting the following criteria for asset capitalization as established University Operations Manual Section V, Chapter 12. Equipment can not be affixed to any part of a building, must have a useful life of one or more year, not purchased for resale and cost $5,000 or more. (Credit 7055 - GAIN LOSS ON SALE OF CAP ASSET for sales of equipment.) Financed by leasing and determined to meet the criteria of a capital lease by Capital Assets Management.
6740 - Software Capitalized  
Computer programs for which the University has purchased a usage license valued at $500,000 or more and has an estimated life of more than one year as written in Section V, Chapter 12 of the University Operations Manual. The threshold for UIHC organizational units is $5,000; this includes Org Units 03, 65, 70-89, 93, and 94. If the expenditure is for an upgrade and is greater than $500,000, the upgrade cost should be added to the original cost on the inventory listing. The threshold change from $5,000 to $500,000 is effective 7/1/2009.
6745 - Library Collection Capitalized  
All Main Library and Law Library books, bound periodicals, microfilms, and other library items as defined in Section V, Chapter 12 of the University Operations Manual.
6747 - Leasehold Improvements  
Improvements on leased property such as buildings, walks, landscaping, and certain types of permanent equipment, unless specifically exempted in the lease agreement, revert to the owner of the property upon termination of the lease.
6999 - Misc Expense Central Use Only  
Miscellaneous expenditures.

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