Most construction projects and equipment purchases are financed by bonds. Some construction projects, initiated by departments, are paid for by the Operating or Research Foundation fund. The University's long-term debt consists of bond funds, loans and leases. Capitalization information resides in the Fixed Assets System. Fixed assets consists of real property and personal property.
Real property consists of land, non-structural improvements to land and buildings.
Personal property is in the form of equipment, which includes, but is not limited to, furnishings, library books, art work, motor vehicles, boats and livestock. Fixed assets are managed because they represent one of the largest investments of the University and because they are central to the functioning of the University. The fixed assets system includes University offices, personnel and computer software. Major components of the system are the fixed assets program from SCT Company, which is intergrated into the University's accounting system and Plant Funds Office in the Accounting Department. Plant Funds personnel work with business offices and other departments to maintain the fixed assets records.