The Board of Control will approve all capital additions in excess of $500,000. Capital additions from $25,000 to $100,000 shall be approved by the Treasurer, and capital additions from $100,000 to $500,000 shall be approved by the President of the University.
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.
| History | ||
| Prior: | 07/23/90 | less than $10, no approval needed less than $25, no approval needed |
| 08/17/94 | ||
| 12/01/67 | ||
| 08/08/69 | ||
| 04/02/71 | ||
| 12/14/79 | ||
| 02/21/80 | ||
| 01/28/82 | increased amount to $150,000 | |
| 07/12/85 | ||
| 05/22/87 | increased amounts | |
| 09/18/92 | changed responsibility | |
| 09/24/99 | Changed Chief Financial Officer's title to Vice President for Finance and Administration | |
| 03/14/03 | 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. | |
| Adopted: | 12/14/2007 | Capital additions threshold requiring State approval increased to $3,000,000 from $1,000,000 per JCOS. |