Capital Budget Process FY20
- Costing units will prepare and submit their prioritized capital requests, along with detail documentation, to the Provost or Vice Presidents for review prior to the close of the general budget process. Please use the Capital Request Form which can be found on the Budget Office website. Any capital requests should be entered in BudgetPak as well as submitted on the request form.
- The Provost or Vice Presidents will review, approve and submit the capital budgets, along with the supporting documentation, to the budget office.
- The list of requested items, along with supporting documentation, will be reviewed by budget, financial services, facilities and ITS personnel to determine whether the individual items meet the capital budget criteria.
- During the initial review, questions regarding an approved item, or questions that arise as to the grouping of items that are deemed necessary to be purchased as a package, will result in a request for clarification from the Provost or VP. Once a determination has been made regarding the eligibility of the item as capital, the item will be added to the approved capital list. Requisitions related to the item will be processed when presented.
- Following the review, the final list of capital requests will be submitted to the Board of Trustees for approval.
- Throughout the fiscal year, it may occur that approved items are not purchased as initially intended and requests are made to fund alternate items with the allocated funds. Such requests should be submitted to the Provost or Vice President. The Provost or Vice President will forward the information to the budget office, with supporting documentation, only after review and approval. Budget and financial services personnel will review the information regarding the proposed substitute item and determine whether the item meets capital criteria. If so, the new item will be added to the capital budget approved items list in place of the item identified as no longer necessary. The requisition for purchase of the new item will be processed when presented.