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Virginia Commonwealth
University's capital budget is prepared in accordance with the
State's Capital Outlay process. This process is one where the
Governor recommends capital projects for funding in the Budget
Bill which is submitted to the General Assembly. The General
Assembly reviews capital projects for all state agencies and
institutions. The Appropriation Act authorizes the expenditure
of funds for specific capital projects.
Capital budget planning follows
formal State review and approval procedures. The process
requires Virginia Commonwealth University to prepare a master
site plan, a multi-year capital development plan, a biennial
budget capital outlay request, project preplanning, and when
debt financing is proposed, a financial feasibility study. All
of this must occur before a capital project can be approved for
funding.
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Master Site Plan |
The master site plan
describes the boundaries of the campus, the campus
architecture, the placement of buildings and future
expansion plans in terms of new construction and
renovations to existing buildings |
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Multi-Year Capital
Development Plan |
The State looks beyond
the two year capital budget planning cycle to establish
funding priorities. As such, capital plans are presented
for six years into the future. |
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Biennial Budget Capital
Outlay Request |
This is the most
important step in the process. The Governor issues a call
for capital budget requests every two years. This call
precedes the General Assembly's long session in the even
numbered years. Only emergency capital projects are
considered during the short session in the odd numbered
years. |
Capital projects are authorized
by the General Assembly in the Appropriation Act. Once a
capital project is authorized, design can proceed. Design
includes the preparation of formal schematic, preliminary and
working drawings by a professional architect or engineering
firm. Approval by the State Division of Engineering and
Buildings is required before a project can proceed from one
design stage to another. Once working drawings are approved by
the State, the project can be bid. Construction bidding is
regulated by the State Procurement Act and rules prescribed by
the State Division of Procurement and Supply. Construction
Administration is the responsibility of Virginia Commonwealth
University under the aegis of the State.
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