AUTHORIZATION OF CAPITAL PROJECTS Sample Clauses

AUTHORIZATION OF CAPITAL PROJECTS. 448 The board of visitors shall authorize the initiation of each major capital project by approving its 449 size, scope, budget, and funding. The President of the University, acting through the Senior Vice 450 President of Administration and Finance or his designee, shall adopt procedures for approving the size, 451 scope, budget, and funding of all other capital projects. Major capital projects that are to be funded 452 entirely or in part by a general fund appropriation of the General Assembly or proceeds from state 453 tax-supported debt shall require both board of visitors approval and those pre-appropriation approvals 454 of the State's governmental agencies then applicable, and shall follow the State's process for capital 455 budget requests. 456 It shall be the policy of the University that the implementation of capital projects shall be carried 457 out so that the capital project as completed is the capital project approved by the board for major 458 capital projects and according to the procedures adopted by the President of the University, acting 459 through the Senior Vice President of Administration or his designee, for all other capital projects. The 460 President of the University, acting through the Senior Vice President of Administration and Finance or 461 his designee, shall ensure strict adherence to this requirement. 462 Accordingly, the budget, size, and scope of a capital project shall not be materially changed beyond 463 the plans and justifications that were the basis for the capital project's approval, either before or during 464 construction, unless approved in advance as described in this section above. Minor changes shall be 465 permissible if they are determined by the President of the University, acting through the Senior Vice 466 President of Administration and Finance or his designee, to be justified. 467 Major capital projects may be submitted for board of visitors authorization at any time but must 468 include a statement of urgency if not part of the approved major capital project program.
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AUTHORIZATION OF CAPITAL PROJECTS. The Board of Visitors shall authorize the initiation of each Major Capital Project by approving its size, scope, budget, and funding. The President, acting through the Executive Vice President and Chief Operating Officer, shall adopt procedures for approving the size, scope, budget and funding of all other capital projects. Major Capital Projects that are to be funded entirely or in part by a general fund appropriation of the General Assembly or proceeds from State Tax Supported Debt, shall require both Board of Visitors approval and those pre- appropriation approvals of the State’s governmental agencies then applicable, and shall follow the State’s process for capital budget requests. It shall be the policy of the University that the implementation of capital projects shall be carried out so that the capital project as completed is the capital project approved by the Board for Major Capital Projects and according to the procedures adopted by the President, acting through the Executive Vice President and Chief Operating Officer, for all other capital projects. The President, acting through the Executive Vice President and Chief Operating Officer, shall ensure strict adherence to this requirement. Accordingly, the budget, size and scope of a capital project shall not be materially changed beyond the plans and justifications that were the basis for the capital project's approval, either before or during construction, unless approved in advance as described above. Minor changes shall be permissible if they are determined by the President, acting through the Executive Vice President and Chief Operating Officer, to be justified. Major Capital Projects may be submitted for Board of Visitors authorization at any time but must include a statement of urgency if not part of the approved Major Capital Project program.
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