Plant Accounting (Fixed Assets)
Plant Accounting supports UC Riverside’s financial reporting for capital assets and construction activities. The team oversees the accounting and compliance requirements associated with construction, renovations, and the acquisition of long-lived assets—including buildings, infrastructure, real estate, and equipment.
What We Do
- Manage financial activity for capital projects and Construction in Progress (CIP)
- Oversee construction-related payments, including payment applications, retention releases, withholdings, and stop notices
- Coordinate accounting for the acquisition and capitalization of long-lived assets
- Support compliance with UC policy, accounting standards, and year-end reporting requirements
Key Responsibilities
- Process construction expenses in the purchasing system and facilitate payment of construction invoices
- Monitor capital project activity and transfer completed project costs from CIP into the appropriate asset categories (buildings, structures, infrastructure, improvements)
- Record depreciation for all capitalized assets
- Prepare loan draw requests and process debt service payments for capital projects
- Capitalize equipment, software, library materials, and other capital assets
- Ensure capital expenditures are accurately recorded and properly classified for fiscal year-end