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9.07         Project Descriptions and Budgets  

                A.    Definitions  

The project description and budget shall include a brief history of the project, the justification or need for the project, the purpose to be served, a description of the project scope, the approximate net and/or gross square feet, a preliminary budget, and any additional information requested by the Board Office or the Board.  

1.      The preliminary budget shall contain lines for major expenditure items and identify source(s) of fund(s).  

2.      A revised project budget increases or decreases the total budget from the amount approved in the preliminary budget.   

3.      An amended project budget changes the line items and/or source(s) of fund(s) from those approved in the preliminary budget; the total project budget does not change.  

                B.     Projects with Budgets of Less than $250,000

A Project Description and Budget shall be prepared for all capital projects with a project budget of $100,000 or more.  Institutional approval of the Project Description and Budget shall constitute approval of projects estimated to cost less than $250,000.  

Approved projects with budgets between $100,000 and $249,999 shall be reported semi-annually to the Board Office.  

                C.    Projects with Budgets of $250,000 to $999,999  

Project descriptions and budgets between $250,000 and $999,999 shall be submitted to the Board Office for review and approval.   

D.  Projects with Budgets of $1,000,000 to $1,999,999  

Project descriptions and budgets for new buildings between $1,000,000 and $1,999,999 shall be submitted for Board review and approval as an entry on the Register with exhibit.  All other project descriptions and budgets between $1,000,000 and $1,999,999 shall be submitted for Board Office review and approval.  

Institutional requests for Board approval of a “project description and budget” (including funding sources) are to be presented no later than the time at which the “schematic design” is presented.

E.    Projects with Budgets of $2,000,000 or More

All project descriptions and budgets of $2,000,000 or more shall be submitted for Board review and approval as an entry on the Register with exhibit.   

Institutional requests for Board approval of a “project description and budget” (including funding sources) are to be presented no later than the time at which the “schematic design” is presented.  

F.    General  

Commitments on projects shall not be made until approval is given by the Board Office or the Board.    

      If the project will employ alternative delivery methods other than the normal design-bid-build process, the project description and budget shall include a review of the advantages and disadvantages (risk) of this delivery method.

G.  Alterations to the Residence of Institutional Head  

Institutions shall obtain the Board's approval prior to initiating any renovation, modification, or improvement to the official state-owned residence of an institutional head if the cost is estimated at $10,000 or more.  All renovations, modifications or improvements to the residence of an institutional head expected to cost less than $10,000 shall be reported to the executive director before proceeding.  

H.    Revised / Amended Project Budgets  

1.      Revised Project Budgets between $250,000 and $999,999  

A project with an increased budget which results in a revised budget totaling between $250,000 and $999,999 shall be approved by the institution.  Information on all revised budgets approved by the institution shall be provided in a semi-annual report to the Board Office.   

2.      Revised Project Budgets between $1,000,000 and $1,999,999  

      A project with an increased budget which results in a revised budget totaling between $1,000,000 and $1,999,999 shall be approved by the Board Office, but may be referred for Board action at the discretion of the Board Office.  

3.      Revised Project Budgets greater than $2,000,000  

      A project with an increased budget which results in a revised budget totaling $2,000,000 or more shall be approved by the Board.

4.      Revised, Decreased Project Budgets and Amended Project Budgets  

      A revised, decreased budget, or an amended budget (as defined in 9.06 A.), need not be submitted to the Board Office or the Board for approval.