Expenditures that occur less frequently than operating expenses and relate to the physical plant including such things as equipment, furnishings, improvements, renovations and new construction. A capital project can take no longer than one fiscal year to complete.
What are capital expenses?
Money still owed to the department.
What are Accounts Receivable?
Spaces or beds that are only used as student beds during periods of over-occupancy. Examples of these spaces include lounges, adding additional bed(s) to an existing student room (e.g., adding a third bed to a double).
What are temporary or overflow or swing spaces?
A collaborative effort between residential life and academic affairs departments. The goal is to create a co-curricular experience to connect student learning in the classroom to the students’ residential experience. Linked courses are often utilized.
What are living learning communities?
Water, electricity, gas, telephone, cable TV, internet services etc. provided to housing and dining facilities for a charge
What are utilities?
The acronym used to describe items such as furniture, mattresses, and appliances.
What is FFE or Furnishings, Fixtures and Equipment
Excess revenue over expenses
What is a surplus?
Institutional requirement that students reside on campus and/or in college/university-approved facilities. Requirements range from first-year only to all (undergraduate) years.
What is a residency requirement?
Allow students who identify with one another’s lifestyles or lifestyle choices to live together comfortably in a supportive community. In the case of these communities there may or may not be additional or special programming for the students involved.
What are special interest communities?
Individual(s) responsible for organizing, directing, managing, and controlling the activities of the project
What is a PM or Project Manager?
This acronym refers to funds used to keep infrastructure working (roofs, heating systems, plumbing etc.) and updating the facilities (new furniture, carpeting, paint etc.)
What is R&R?
A “note” that is issued to lenders saying that we want to borrow this amount of money at this interest rate and we agree to repay this money in this amount for this many years. Works much like a home mortgage.
What is a bond?
The number of “actual” students living in the student housing facilities.
What is occupancy?
A framework used by colleges and universities to create learning opportunities and programs for students outside the classroom
What is a residential curriculum?
This acronym is often used instead of repeating "Heating, Ventilation, and Air Conditioning"
What is HVAC?
Fabric wear-ability test used in soft seating
What is a rub test?
Estimated revenues and expenditures based on analysis and review of historical data plus current trends and market conditions
What is a budget?
Number or proportion of students with assignments or contracts that cancel before residence halls/apartments open. Term is often used by admissions offices as well, but their calculations may differ from occupancy management methodology.
What is melt?
This is the federal law that permits students to have emotional support animals in housing
What is the FHA or Fair Housing Act?
U.S. Green Building Council set rating system for the design, construction, and maintenance of green buildings.
What is LEED (Leadership in Energy and Environmental Design)
Project delivery that entails design and construction managed by one company
What is design-build?
Funds that are held in a “savings account” to cover unexpected expenses. “…to ensure the liquidity of the operation should a drop in occupancy occur.” Monies set aside for emergencies, long-range projects or cash balance.
What are reserves?
Total number of revenue producing bed spaces in the housing system.
What is capacity?
This term refers to academic faculty who reside with and among undergraduate students
What are faculty in residence?
Systematic approach to planning and budgeting for known future repair and reqplacement requirements that extend the life and retain the usable condition of campus facilities and systems.
What is capital renewal?