Office of the Comptroller
Projects and Fixed Assets 

The section collaborates with departments mainly physical plant, FPDU, Plant Engineering and CNS. It controls the expenditure of approved capital budgets, programs and funds for capital projects, equipment and some grants and ensures timely transfer of completed projects and major equipment to appropriate fixed asset categories.

PAFA deals mainly with four main categories (click on any of the links below to auto-scroll to the corresponding category):





New construction, improvement and renovation at AUB campus and AUB MC fall within projects. Budgets for all proposed projects are approved by the Board of Trustees (BOT) which are forwarded to the comptroller's Office where they are financially controlled. The strategic and implementation control is performed by one of the following: FPDU, physical plant, CNS, plant engineering or directly from the deans' offices.

Designated Accounts are accounts that are funded by an AUB source.

These are split into three categories:
  • University Research Budget (URB), which is money set aside by the budget committee to cover research carried by different professors at AUB.
  • Overhead Recovery Accounts, which is money collected from the overhead percentile calculated from restricted accounts and distributed accordingly to the pertaining service departments.
  • Club, a LBP 50,000 yearly fee collected from the students to cater for student activities.
Non-expendable, tangible property having a useful life of more than one year and an acquisition cost of $5,000 or more per unit. Here, each department requests and submits a list of needed major equipment to the Budget Office, which prepares a budget proposal and sends it to the Board of Trustees (BOT) for approval. After receiving the approved budget from the BOT, PAFA controls the purchase of these equipment and transfer to fixed assets.
Fixed Assets
Fixed Assets fall within seven categories:
Category Life
Buildings 50 Fiscal Years
Equipment 10 Fiscal Years
Furniture 15 Fiscal Years
Vehicles 10 Fiscal Years
Computers 3 Fiscal Years
Land Improvement 20 Fiscal Years
Land Unlimited

After the revision of the projects done and major equipment bought, comes the reconciliation of these with the supply department to check whether they require capitalization or not. Afterwards, these items are entered into the fixed assets module where they are depreciated according to their useful life.
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