CAPITAL PROGRAM. 432 The President of the University, acting through the Senior Vice President of Administration and 433 Finance or his designee, shall adopt a system for developing one or more capital project programs that 434 defines or define the capital needs of the University for a given period of time consistent with the 435 University's published Master Plan. This process may or may not mirror the Commonwealth's 436 requirements for capital plans. The board of visitors shall approve the program for major capital 437 projects. Major capital projects that are to be funded entirely or in part by a general fund 438 appropriation of the General Assembly or proceeds from state tax-supported debt shall follow the 439 Commonwealth's requirements for capital plans. The board may approve amendments to the program 440 for major capital projects annually or more often if circumstances warrant. 441 It shall be University policy that each capital project program shall meet the University's mission 442 and institutional objectives and be appropriately authorized by the University. Moreover, it shall be 443 University policy that each capital project shall be of a size and scope to provide for the defined 444 program needs, designed in accordance with all applicable building codes and handicapped accessibility 445 standards as well as the University's design guidelines and standards, and costed to reflect current costs 446 and escalated to the mid-point of anticipated construction.
Appears in 3 contracts
Sources: Management Agreement, Management Agreement, Management Agreement