Capital Projects
Capital projects refer to all construction, renovation, improvement, fabrication, and customization projects where capital costs are greater than or equal to $50,000, and non-operating repairs and maintenance funded by long-term maintenance reserves. The policies, forms, and training included here will assist you with setting up a capital project, understanding capital and non-capital costs, choosing the correct natural class, budgeting and recording costs, and componentizing projects that are in use.
Project Criteria
Capital projects include:
- new construction
- renovations and additions to existing structures
- improvements that correct inadequacies, extend the life, or change the use of existing space or systems
- fabricating equipment; and customizing software
Guidelines & Definitions
Related Policies & Forms
Capitalization Policy
- The capitalization policy of Dartmouth College determines the proper classification
of costs of $50,000 or more for new construction, renovation, improvement, and maintenance
projects. This policy has been developed to assist project managers and others with
the important task of preparing and monitoring capital budgets and clearly distinguishing
between capital and non-capital expenses.
- The capitalization threshold for tracking assets in the College’s fixed assets system is $5,000. For more information about the capitalization threshold, see Capitalization Threshold.
Construction in Progress (CIP) Setup Form
- This form is used to request CIP project funding and activity values. The form includes estimated start and end dates, scope, and budget. Revised forms can be submitted by putting an x in cell S4 and other cells in column S next to the each section that has changed.
Componentization Template
- This form is used to summarize all project costs as of the end of the month the CIP project was put into use (project end date), or at a minimum as of each December 31st. Other tabs should be added to include the CIP report and all transactions (current and prior years) through the project end date.
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