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Project Accountant

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Project Accountant Powered By Docstoc
					                                                            FDC Project Management
                                                                     Fee Guidelines
Issued: July 1, 2009




Overview

Revised project fees were approved by the Senior Management Council on June 17, 2009 to be
implemented beginning July 1, 2009. The revised fee structure is listed below and is to be
utilized on projects that issue a design or initial construction contract (if no design contract is
needed) on or after July 1, 2009. A $500 project planning fee is in effect on requests received
for studies and for renovations or upgrading space. If the project moves forward the project
planning fee will be applied to the project management fee. A $500 minimum in house project
management fee will be charged on all projects.

Project Administrative Fees

                                 Local Funded Projects
Project Planning Fee                        $500
In House Design Fee*                        7%
In House Project Management Fees            As noted below
Projects under $1M                          5%
$1M - $4M                                   2.5%
$4M - $20M                                  2.25%
$20M+                                       2%
All Repair and Renovation                   5%
All Infrastructure                          5%
Studies                                     3% (based on study cost)
                                 State Funded Projects
In House Design Fees*                       7%
In House Project Management Fees            As noted below
Projects under $4M                          1.5%
$4M and greater                             1.5% plus the SAO fee of 0.25% of total
                                            project cost (max. fee for SAO = $50K)

Note: When the project moves forward the project planning fee will be applied to the in house
project management fee. The in house project management fee is calculated on the construction
budget including change orders.

* In House Design fee, in addition to the in house project management fee, is charged on small
projects where no outside A/E firm is hired and drawings/sketches and written specifications are
needed.




0000_Project_Management_Fee_Guidelines                                                      Page 1 of 2
                                                           FDC Project Management
                                                                    Fee Guidelines
Issued: July 1, 2009




Process

Customers submitting a project request form to renovate or upgrade space will be required to
provide their department chartfield (org., fund, and account) to which the $500 project planning
fee will be billed. The Project Initiation Coordinator is responsible to verify the department
chartfield is valid prior to submitting the project request form for Project Manager assignment.
If an invalid chartfield is entered the Project Initiation Coordinator is responsible to contact the
customer to obtain new chartfield information. The project requests will remain in project intake
and unassigned until the correct chartfield information is received. During the NetLink project
set up the budget, funding, project planning fee contract, and project “Estimate sent to
Customer” milestone (projected 30 days after project manager assignment is made) is to be set
up by the Project Initiation Coordinator.

Once the Project Manager completes the cost estimate letter they are required to enter the actual
date of the “Estimate sent to Customer” milestone in NetLink. The Lead Project Accountant will
run a report on a monthly basis based on this milestone to determine what projects are to be
charged the project planning fee. An invoice, payment and cash will be entered into NetLink by
the Project Accountant and an Interdepartment Billing issued to charge the customer’s chartfield.

The $500 project planning fee will be charged during the month the customer received an
estimate letter from Facilities Design and Construction. If the project is approved to move
forward the project planning fee will be applied to the in house project management fee. A $500
minimum in house project management fee will be charged on all projects. The Project
Transition Coordinator will enter the project budget and funding into NetLink, set up the project
chartfield and coordinate the fund transfer (transfer requested will be $500 less than estimate
letter) and notify the Lead Project Accountant when projects are funded so the entries to the GL
and NetLink will be generated.

Once a project has been approved to move forward the in-house project management fee will be
billed according to the following schedule:

           30% once the design contract is issued

           Balance billed quarterly during the construction period




0000_Project_Management_Fee_Guidelines                                                     Page 2 of 2

				
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