Approval by the Treasurer is required for capital additions from $25,000 to $100,000.
Approval by the President is required for capital additions from $100,000 to $500,000.
Board of Control approval is required for all capital additions in excess of $500,000.
All capital additions in excess of $3,000,000 must be approved by the State of Michigan's Legislative Joint Capital Outlay Subcommittee regardless of the source of funding. Capital additions include but are not limited to maintenance, remodeling, additions, land acquisition, utility, landscaping, equipment, telecommunications, roads and parking.
|07/23/90||less than $10, no approval needed|
|08/17/94||less than $25, no approval needed|
|07/12/85||increased amount to $150,000|
|09/24/99||Changed Chief Financial Officer's title to Vice President for Finance and Administration|
|03/14/2003||Changed Treasurer/Vice President for Finance and Administration to Treasurer|
|08/04/2005||Increased amount to $500,000 for Board approval|
|12/09/2005||Added second paragraph acknowledging acceptance of the Use and Finance process established by policy and law|
|12/14/2007||Capital additions threshold requiring State approval increased to $3,000,000 from $1,000,000 per JCOS|
|07/15/2010||Was previously Policy 13.11. Renumbered and clarified language of first paragraph.|