The Plant Funds department maintains accounting control over funds that are to be used for the construction, renovation and acquisition of long-lived assets for University purposes. At the end of fiscal year 2006, the University's total capital assets, net of accumulated depreciation, amounted to approximately $1.6 billion.
Major responsibilities include:
- Accounting for all University debt and making debt service payments.
- Capitalizing completed projects, land acquisitions, moveable equipment, etc.
- Accounting for all University lease purchases and leased properties.
- Processing of vendor invoices and internal charges related to University construction projects.
- Billing the State of New Jersey, Federal Agencies and other external sources related to University construction projects.