Project Accounting performs the financial accounting and reporting as well as coordinates the fiscal policies and procedures related to the University’s capital program. Capital projects include new construction, renovations and deferred maintenance. Projects are funded using UCONN 2000 bonds, other State bonds, revenue bonds, departmental funding and outside funding including donations, grants and federal funding. Project Accounting works closely with University Planning, Design and Construction (UPDC), Capital Projects and Facilities Procurement (CPFP), Facilities Operations and Building Services (FOBS), and other University departments. Two of our staff members are located at the UPDC building since they so closely interact with UPDC staff. Project accounting ensures that the University is in conformity with Generally Accepted Accounting Principles (GAAP) in the United States of America and the Governmental Accounting Standard Board (GASB). We also perform the financial prequalification of contractors on large projects and review and approve project-related purchase orders and invoices for compliance with fiscal policies and procedures.