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  4. IV. Accounting Codes - Uses and Descriptions
  5. IV.4.F Capital Projects

IV. Accounting Codes - Uses and Descriptions

Guide to Financial Operations

IV.4.F Capital Projects

IV. Accounting Codes - Uses and Descriptions
Guide to Financial Operations

Capital projects expenditures include payments made for:

  • The acquisition or construction of the State’s capital facilities including planning, land acquisition, design, construction, engineering services, and equipment costs attributable to highway, parkway and rail preservation projects; outdoor recreation and environmental conservation projects;
  • Payments to local government units and public authorities to help finance highways, parkways, bridges, mass transportation, aviation, port development, community colleges, community and State mental hygiene buildings, outdoor recreational parks, correctional and State-assisted housing as well as environmental quality and economic development projects; and
  • Advances for capital construction costs reimbursable by public authorities, instrumentalities of the State, the Federal government or local governments. In some instances, “advances” (appropriated loans receivable) are made for capital projects costs reimbursable by public authorities, Federal or Local governments, or from the proceeds of State bond and note sales. These advances are subject to monthly reporting by the State Comptroller and repayment pursuant to §40 of the State Finance Law. A unique attribute code will be inserted in the appropriation record to denote that expenses associated with a capital project are reimbursable.

The capital construction expenditure account codes have been designed to permit the identification of the following types of information for capital construction expenditures.

  • Kinds of construction
    • New Building Facilities
    • Infrastructure – Highways, Bridges, Mass Transportation, etc.
    • Existing Facilities – Rehabilitation and Improvements
      • Infrastructure – Rehabilitation and Improvements

• Costs of a capital project other than the actual construction costs

  • Acquisition of Land
  • Demolition
  • Artwork and Historic Treasures
  • Engineering Services (Architects, Engineers, Surveyors, etc.)
  • Design and Consultant Services
  • New Equipment (office furnishings, medical and health equipment, etc.)

Click here to download the table below as a Microsoft Excel file.

SFS Account Title Capital Projects Description
60501 Building Construction Includes the actual (contract) construction costs plus professional services, materials, labor and site preparation. Buildings include any roofed structure used for permanent or temporary shelter of persons, animals, vegetation, or equipment.
60502 Installed Equipment

For first time acquisition costs including costs incurred for materials to install new equipment that is NOT replacing existing equipment.

NOTE: For replacement of existing equipment, use account 60512. A replacement is the substitution of an existing asset with a similar asset. (An old air conditioning system is replaced by a new air conditioning system)
60510 Building Improvements An improvement is the addition of a new component where one did not previously exist. For example, adding a new wing to an existing building adds square footage to the building and increases the value of the capital asset.
60511 Building Purchase Total contact price for purchase of existing buildings. Buildings include any roofed structure used for permanent or temporary shelter of persons, animals, vegetation, or equipment.
60512 Building Repair & Maintenance

Renovation, repairs, maintenance and construction to existing buildings to extend the life of the building. This category also includes “E” contracts let for emergency repairs under §9 of the Public Buildings Law. The ‘Project’ Chatfield is used to compliment charges to this expense category. This account includes:

  • Adding, removing and/or moving of walls relating to renovation projects that are not considered major improvement projects and do not increase the value of the building.
  • Plumbing, roof, or electrical repairs.
  • Interior renovations, such as repainting, touch-up plastering, replacement of carpet, tile, or panel sections; sink and fixture refinishing, etc.
  • Exterior renovations such as repainting, replacement of deteriorated siding, roof, or masonry sections.
  • Replacement of a part or component of a building with a new part of the same type and performance capabilities, such as replacement of an old air conditioner with a new one of the same type and performance capacity.

Any other maintenance-related expenditure which does not increase the value of the building.
60601 Highways & Roads Infrastructure expenses associated with the construction or reconstruction of roads, curbs and gutters, streets, sidewalks, rest areas, drainage systems, lighting systems, historic monuments, and similar assets that are immovable and of value only to the State. This account class includes maintenance of arterial highways pursuant to cooperative agreements with local governments.
60602 Bridges Infrastructure expenses associated with the construction or reconstruction of bridges
60603 Ports/Canals/Waterways Infrastructure expenses associated with the construction or reconstruction of ports, canals or waterway improvements
60604 Rail Infrastructure expenses associated with the construction or reconstruction of rail and mass transit facilities.
60605 Aviation Infrastructure expenses associated with the construction or reconstruction of airport facilities including runways, taxi areas, landing strips, passenger terminals, lighting, cargo facilities, etc.
60701 Land Purchase Payment for the purchase of land as authorized by law. Total purchase price includes land purchase, payment of accrued taxes, broker commissions, legal expenses, title insurance, real estate surveys, other and professional fees associated with the purchase.
60702 Land Improvements Payments for land improvements that readies the land for its intended use that is not specifically identified with building construction. This category includes land excavation, fill, grading, drainage, installing sewer or water lines, water well or septic installation.
60703 Land Preparation To record payment for land site preparation that readies the land for erection of buildings and structures (e.g. fill and grading). This expense category includes demolition of existing buildings.
60710 Artwork Acquisition of artwork, paintings, manuscripts, sculptures, and historic treasures, etc. that are purchased for public exhibition, research or education.
60720 Books/Media Acquisition of books, photos, film, video, CD’s, etc. held as individual use or in a collection. Books/media do not include magazines, other periodicals, or other pamphlet-type publications.
60730 Depreciation Expense OSC Use Only - The reporting of depreciation is required for the Government-wide financial statements.
60740 Interest on Late Payments Interest on late payments for unjustified delays in paying vendors, construction contractors, and providers of service pursuant to Article 11-A of the State Finance Law.
60750 Retainage – Capital Retainage is the amount temporarily withheld from payments to ensure contract performance. This account code is used for both the withholding and release of monies to the payee.
60788 Intangibles Amortization Expensing the acquisition cost of an intangible asset (e.g. easements, computer software, etc) systematically over its estimated useful life.

Guide to Financial Operations

REV. 06/07/2023