UNF Financing Corporation Accounting

The University of North Florida Financing Corporation, Inc. (UNFFC) Accounting

The UNF Financing Corporation (UNFFC) issues revenue bonds or other forms of indebtedness when such revenue bonds or other forms of indebtedness are used to finance or refinance capital projects which are to provide facilities necessary and desirable to serve the needs and purposes of the university. UNFFC is a separately incorporated 501(c)(3) as defined by the Internal Revenue Code and is certified as a direct support organization of the University of North Florida as defined in Section 1004.28 of the Florida Statutes. Prior to the creation of the UNFFC, bonds for construction of auxiliary facilities were issued by the UNF Foundation, Inc.

 

UNFFC Accounting provides the accounting and other related services to acquire real and personal property and to contract for sale and disposal of same; to approve and execute contracts for the purchase, sale, lease or acquisition of commodities, goods, equipment, construction services, lease of real and personal property and construction; and to receive, hold, invest and administer property and to make expenditures to or for the exclusive benefit of (i) The University of North Florida (the “University”), a member of the state university system of the State of Florida, or (ii) a research and development park or research and development authority affiliated with the University and organized under part V of Chapter 159 of the Florida Statutes.