Capital Highway Project Accounting Sub-Section
Goal
The Capital Highway Project Accounting Sub-Section provides direction, counsel, and trusted financial information to MnDOT and strategic partners on project accounting.
Products the sub-section provides
- Accounting services for all projects funded by the Federal Highway Administration
- Encumber and pay all right of way and MnDOT let construction contracts and contract changes
- Overhead rate development, cost accounting consultation and chart of account maintenance
- Accounts receivable services for contracts such as partnerships, cooperative construction, and utilities
What to expect from the sub-section
- Ensuring state and federal regulations are followed on federal projects
- Pay vendors in timely manner from correct state budgets and correct category and element
- Cost accounting system that provides for the reporting of full costs for projects
- Timely invoicing, notification of payments received, accounting close-out
- Pursue outstanding receivables, request assistance when needed
What you need to provide to the sub-section
- Accurate bid items and quantities by the correct category and element on pay estimates
- For partnership contracts, provide executed contracts and requests for invoicing
What the sub-section expects from you
- Break contracts into different groups as necessary
- Close projects timely
- All payroll and other costs recorded accurately by project ID and source type