About us

Financial Services provides the following operational and reporting support services to VCU Facilities Management:

  • Develop a budget for FMD operations, Steam Plant and capital construction projects 
  • Report internal and external finances for department operations
  • Develop shop rates for labor and materials provided by FMD
  • Develop Professional Services Rate for Planning and Design and Construction units
  • Serves as liaison with the Vice President of Administration, University Budget Office, University Controller, University Treasurer and State Department of Planning and Budget on matters related to capital project budgeting, planning and execution
  • Process university wide utility invoices and maintain utility database
  • Processing human resources and payroll transactions
  • Overseeing accounts payable and accounts receivable
  • Monitoring utilities and associated bills
  • Answering P-card purchase inquiries
  • Managing requisition/PO requests
  • Assisting with insurance claims 
  • Manage the annual review and sign off for the FMD ARMICS controls 
  • Manage the semi-annual review and system security access for Banner Finance/RealSource

Financial information for FMD services

Base provision services

FMD receives an annual education and general (E&G) budget to cover the cost of operation and maintenance services (i.e., base provisions) provided to E&G and research facilities, while base provisions provided to auxiliary enterprises are billed to the respective unit. Base provisions services include:

  • Utilities, such as electrical, natural gas, steam, water and sewer, and fuel oil
  • Custodial services, refuse removal and pest control
  • Maintenance, including heating, cooling, plumbing, electrical roofing, elevators, fire alarms and building automation systems
  • Grounds maintenance
  • Building-related interior and exterior repairs

Non-base provision services

Services not covered by the E&G budget (detailed above) are billed to the requesting department — this applies to both E&G departments and auxiliary enterprise departments. These non-base provision services include, but are not limited to:

  • Department-initiated renovations
  • Department-initiated planning and design services
  • Department-related equipment repair and replacement
  • Office furniture repair and replacement
  • Moving and surplus property pick-up
  • Additional custodial service
  • Additional locks and keys
  • Painting
  • Carpeting
  • Event set-up 
  • Signage

The requesting department will be billed for the cost of labor (i.e., shop rates), materials, equipment and contractor cost associated with non-base provision services, as applicable. Shop rates linked here are typically calculated in June, when the new overhead rates and salary increases are known for the upcoming fiscal year. 

Service requests should be submitted through the Facilities Self Service and the budget index code must be provided for non-base provision services. The cost of service rendered is billed to the department bi-monthly through the university’s financial reporting system, AiM. 

When requesting services, departments can request cost estimates for projects.

Planning, design and construction project management and inspection services

VCU Planning and Design and VCU Construction Management provide project management and inspection services. The rates for these services include direct salary and benefits costs of project managers, interior designers and inspectors as well as allocated costs for supervision and departmental operating costs. These rates are applicable to state- and university-funded capital projects as well as all client-initiated planning and construction efforts, with the exception of small projects initiated through VCU University Renovations.

For more information about these services, visit the Planning and Design page or the Construction Management page.

Contractor services

If contractor services are procured, the requesting department will be charged an 8 percent (VCU Facilities Operations) or 13 percent (VCU University Renovations) overhead rate. The overhead rate includes but is not limited to contract administration oversight, scope of work equipment selection, review of bids, contractor submittals, final inspection, and commissioning, proposal review and invoice management. 

Contact us

Email: askfmd@vcu.edu