Wednesday, March 27, 2024

Description: Our presentation will address Building Componentization. If your institution currently depreciates its buildings over a 40, 50, or 60-year life, you are not maximizing your potential depreciation benefits. We will review how building componentization will allow for your Institution to adjust average asset lives based on “Institutional Experience,” vs publicized lives, thereby accelerating your depreciation and potentially increasing your Institution's F&A reimbursement. Additionally, we will review the importance of reporting of periodic/ongoing construction activity, accurate asset living of building-related assets, and reflecting recent renovations, improvements, or betterments, is particularly important and necessary to record and report these significant financial investments in your Institution’s buildings used in Organized Research Activities. Furthermore, by accurately identifying and segregating your Institution's construction and renovation costs into the designated cost reporting groups, identified as Building Shell, Building Services, and Fixed Equipment, and performing a physical inventory of Fixed Equipment on a room-by-room basis and assigning proper lifing, can be beneficial to your Institution.

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