Definitions
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- Project Budget: The Sum of all costs should equal the Total Project Budget
- Site Acquisition Cost: Money budgeted for purchasing the project site.
- Fixed Equipment: Cost of all equipment that may be installed before completion of the building and that are part of the project contract, such as lockers, food service equipment, fixed seating, fixed medical equipment, security equipment, stage equipment, lighting, etc.
- Site Development: Costs associated with all work required that lies within the Project Scope and five feet from the edge of the building. Includes grading, landscape, development, athletic fields, walks, site lighting, street furniture, site graphics, on-site sewage treatment plant, and unusual foundation conditions. Include the cost of remedying any environmental problems that may exist.
- Contingency Reserve: An amount budgeted to serve as a planning contingency, bidding contingency, and construction reserve for change orders, etc.
- Furniture and Movable Equipment: Cost of furniture, window coverings, art work, all movable equipment. Does not include the cost of instructional or research equipment purchased from departmental funds such as library books, computers, microscopes, and other materials commonly purchased from departmental funds.
- Architectural Costs: Cost of architectural services required to design and administer the project.
- Project Management: Cost of project management provided by FP&C (including outsourced vendors).
- Other Fees: Cost of professional services paid from project budget. Examples include State Antiquities Committee survey, State Archaeological Committee survey, State Historical survey, permits, soil testing, materials testing, legal fees not provided by the institution, etc.
- Administrative Cost: Cost paid by the HSC in the course of planning and executing the construction project. Includes costs associated with preparing requests for proposals, advertising, contracting, insurance, cost estimate verification, office supplies, printing, photos, travel, legal work performed inhouse, and other costs not otherwise categorized. Any contingency must be separately justified.
