The Office of Finance and Facilities reviews all State University System facilities funding requests for new construction, repair, remodeling and renovation. The primary state source for the funding of university academic facilities continues to be Florida’s Public Education Capital Outlay (PECO) program, which is constitutionally established to address education needs on a K-20 basis. Comparatively, student life buildings, such as student unions, wellness centers and recreational facilities are typically financed via user fees, primarily the Capital Improvement Fee; whereas supportive facilities, such as residence halls, parking garages and utility infrastructure, as well as athletic facilities, are generally financed through debt issuance and donations.
Facilities constructed using PECO begin with approval by the university Board of Trustees of a prioritized project funding request known as the Five Year Capital Improvement Plan (CIP). This plan is then submitted annually to the Office, where the proposed projects are evaluated utilizing a points-based prioritization process pursuant to Florida Statutes. The resulting list of capital project funding requests is then assessed by the Board’s Facilities Committee for adoption by the Board of Governors as the PECO Fixed Capital Outlay Legislative Funding Request for the upcoming Legislative Session.
The Office also coordinates the Educational Plant Surveys (EPS) for each university (on a rotating basis) at least every five (5) years, pursuant to Florida Statutes. The EPS process involves the validation of a university’s facilities inventory and the assessment of future space needs based on a five (5) year projection of anticipated university growth.
In addition to the above, the Office administers the Capital Improvement Fee Trust Fund and maintains a historical record of all university funding requests for Fixed Capital Outlay.