1. TOPICS: Project Expenditures Project Accounting Project Budgeting
IENG 464 / 465
FALL / SPRING
2015 – 2016
TOPICS:
Project Expenditures
Project Accounting
Project Budgeting
SENIOR DESIGN
Project Finances

2. Project Expenditures
Requirements & Documentation

3. Project Expenditures: Requirements
Budget Performance is one of the primary considerations
Part of the Triple Constraint of every true project !
Conceptual Design (Term One) Budget
$ 50 assigned to each accepted project
Can request more, if necessary to accomplish tasks documented in your accepted Project Proposal. Examples:
Conceptual prototype materials
Copying / printing costs for client materials
Travel costs for client meetings
Design Implementation (Term Two) Budget
$ (total) by IE Department for all IE Senior Design projects in a fiscal year
Allocation is dependent upon the request in the Conceptual Design Presentation. Examples:
Functional prototype materials
Poster printing / mounting costs for SDSMT Design Fair
Final report printing / binding costs for the client
11/20/2018
IENG 471 Facilities Planning

4. Project Expenditures: Requirements
Funding is from State of South Dakota (ESF money)
Subject to State rules for purchases – specified by SDSMT Business Office
General Rules
Must be appropriately documented.
Documentation must show when purchased
Documentation must show where purchased
Documentation must show how much was paid
Documentation must show what was purchased
Documentation must show who paid
CAUTION: Not all paper works – ATM receipt for the cash to pay for things DOES NOT WORK!
Must have approval by authorized personnel
Must be used for appropriate expenses at reasonably low cost
Good rule of thumb: if it stays with the school afterward, it MAY be OK.
CANNOT be used for personal or personal educational expenses. Examples:
Clothing – unless the clothing stays with the school (uniforms)
Food – unless the food is part of an educational / research activity (incentive for subjects)
Copying / printing costs for materials normal to student expenses
Travel costs normal to student expenses
11/20/2018
IENG 471 Facilities Planning

5. Project Expenditures: Paying
Option 1: Purchase Order
Plan ahead and save on tax or contract purchases
Requires a PO Form, and possibly a RFQ , but no out-of-pocket $$$
Slowest way to acquire materials
Get approval from Dr. Jensen
Get PO started with Dept. Program Assistant
Get purchased by SD Purchasing Agent
Get shipped to IE Dept.
Get received paperwork to Dept. Program Assistant
Option 2: Pay For It and Get Reimbursed
Fastest way to get things
Requires a check request form, and some $$$ from your wallet
Takes at least a week to get reimbursed
Get receipt and attach to 8-1/2 x 11 sheet of paper
Attach to Check Request Form (fill out and get approved)
If sent by 11:00 Friday, checks are usually available the next Wednesday
Both options will still require approval!
Process the paperwork with Dept. Program Asst. before Noon on Fridays – RED FOLDER
11/20/2018
IENG 471 Facilities Planning

6. Project Expenditures: Paying
11/20/2018
IENG 471 Facilities Planning

7. Project Accounting
Budgets Tool – Materials Page Spreadsheet

8. Project Accounting: Budgets
Budgets Spreadsheet
Located on the Materials Page, course website
Download to your computer before opening and using
Can be modified as you wish
Can be used to summarize expenditures in your printed reports
Requires effort to work, team cooperation especially!
User Editable Fields:
Starting Balance
Index No.
Description
Date
Reference
Disbursements
Receipts
Encumbrances
11/20/2018
IENG 471 Facilities Planning

9. Project Accounting: Budgets
11/20/2018
IENG 471 Facilities Planning

10. Project Budgeting
What’s going into YOUR wallet?

11. PROJECT Expenditures: Budgeting
Conceptual Design Presentation
Each team will need to address proposed budget for Implementation
IEEM Projects with materials that will stay with outside clients to have a match ($ for $)
ALL projects must account for all funds expended – including where materials end up
Result of CDP term is an allocated budget
Senior Design Project Budget Process:
1st Term (Conceptual Design)
Report your budget expenditures in your presentation
Report your budget expenditures in your Conceptual Design Report
2nd Term (Implementation)
Carry over your 1st Term budget results
Add your ALLOCATED Implementation budget amount – Available at start of next term
Track your budget progress during the 2nd Term
Results Presentation (Design Fair)
Report your budget expenditures in your presentation poster
Final Project Documentation
Report your budget expenditures in your Final Project Documentation (part of your project results)
Project Documentation is due at NOON on the Last Day of Finals Week