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PROCEDURE FOR APPROVAL OF MAJOR CAPITAL PROJECTS

  

1. The project sponsor determines when a submission for approval of a major capital project will be made and prepares the necessary documentation. All major capital projects will require the approval of the Board of Regents before expenditures or preliminary design work can occur. This approval will only be granted after the submission of a Formal Capital Project Approval Request in the following format and sequence:

  1. Review by the Senior Executive Committee and signed by the President or designate;
  2. Review by the Campus Planning and Development Committee and signed by the Chair; and
  3. Review by the Finance Committee and signed by the Chair.

2. Capital Project Approval Request submissions must include the following:

  1. Project description;
  2. Detailed justification for the project including proposed management structure;
  3. Identification of any special management/academic/ operational issues;
  4. Functional outline of the project including the space type, size, function, occupancy, and recommended acquisition method;
  5. Confirmation from Facilities Management that space allocation standards have been met;
  6. Timing implications and start-up schedules;
  7. Defined funding source and financial plan including cash flow projections;
  8. Detailed estimate prepared by Facilities Management that includes the basis and assumptions under which the estimate has been prepared. Estimates will follow an approved template and include all aspects of the project such as design, construction, equipment, and projected operating costs. (See Detailed Project Estimate Form); and
  9. Approval page from Senior Executive, Campus Planning and Development, and Finance Committees.

3. Following review by the Board of Regents, Capital Project Proposals Submissions will be actioned as follows:

  1. Approval granted through the Vice-President (Administration and Finance) to proceed as proposed;
  2. Conditional approval, requiring the qualification or provision of additional data;
  3. Deferred for future consideration through the Campus Planning and Development Committee; and
  4. Denied.
 

Policies using this procedure: