Accounting
All collected rebate monies will be placed into a dedicated fund that will be facilitated by the Controller’s Office.
It is advantageous to take this approach because everything rebate-related will be under one account and therefore searchable. This way, we can easily track and quantify how much the College is getting from rebates. Currently, we are working to get this tracking mechanism in place.
This dedicated rebate fund could be re-administered to other qualifying energy efficiency capital and operational projects. This includes the purchasing of new equipment and/or machines over $1000 with a life expectancy of over 10 years and repairing and/or maintaining of existing equipment.
Priority is given to institutional projects with the highest impact, as determined by the Office of Finance and Administration. In doing so, the entire institution benefits, and by extension, those departments that contributed to the fund. Additional priority will be given to contributors in order to incentivize participation in this program. This process will be facilitated by OES in collaboration with the Controller’s Office.
Additional Note: Unfortunately, Green EDGE Fund sustainability grants will not be eligible for the rebate fund, however, efficiency loan grants will be accepted.