Oregon State University

704 Building Repair Reserves – Auxiliary Enterprises

Fiscal Operations Manual
Section 700: Reserves and Investment Management
Effective: 01/01/2003
Revised: 01/25/2010

Building Repair reserve funds are required so self-supporting organizations set aside sufficient funds to adequately maintain their “owned” buildings.  The Building Repair Reserve funding level requirement calls for an assessment by Auxiliary personnel of the “owned” buildings condition and age.  Each Auxiliary must review its particular building repair needs, and prepare a business plan for building repair projects in the same manner as for capital equipment replacement.  The plan must set target funding levels for upcoming years.  This plan must be submitted to the Director of Business Affairs and approved by the Vice President for Finance and Administration at the beginning of each fiscal year.  The amount in Building Reserves is not related to accumulated depreciation.

When the Building Repair Reserve Fund is funded with cash according to the schedule in the business plan, the transaction will be a fund deduction (account code F0002) to the Operating Fund, and a fund addition (account code E0002) to the Building Reserve Fund.

Cash will be moved from the Building Repair Reserve Fund ONLY to a plant repair fund 8XXXXX.  Building Repair Reserve Funds cannot be used to fund new construction or capitalized projects, only major maintenance and repairs.

Reference: IMD 6.350; ORS 351.590; ORS 351.615.

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