AUTHORIZATION OF CAPITAL PROJECTS. The board of visitors shall authorize the initiation of each major capital project by approving its size, scope, budget, and funding. The President of the University, acting through the Senior Vice President for Administration and Finance or designee, shall adopt procedures for approving the size, scope, budget, and funding of all other capital projects. Major capital projects that are to be funded entirely or in part by a general fund appropriation of the General Assembly or proceeds from state tax-supported debt shall require both the board of visitors' approval and those pre-appropriation approvals of the Commonwealth's governmental agencies then applicable, and shall follow the Commonwealth's process for capital budget requests. It shall be the policy of the University that the implementation of capital projects shall be carried out so that the capital project as completed is the capital project approved by the board for major capital projects and according to the procedures adopted by the President of the University, acting through the Senior Vice President for Administration or designee, for all other capital projects. The President of the University, acting through the Senior Vice President for Administration and Finance or designee, shall ensure strict adherence to this requirement. Accordingly, the budget, size, and scope of a capital project shall not be materially changed beyond the plans and justifications that were the basis for the capital project's approval, either before or during construction, unless approved in advance as described in this section above. Minor changes shall be permissible if they are determined by the President of the University, acting through the Senior Vice President for Administration and Finance or designee, to be justified. Major capital projects may be submitted for the board of visitors' authorization at any time but must include a statement of urgency if not part of the approved major capital project program.
AUTHORIZATION OF CAPITAL PROJECTS. The Board of Visitors shall authorize the initiation of each Major Capital Project by approving its size, scope, budget, and funding. The President, acting through the Executive Vice President and Chief Operating Officer, shall adopt procedures for approving the size, scope, budget and funding of all other capital projects. Major Capital Projects that are to be funded entirely or in part by a general fund appropriation of the General Assembly or proceeds from State Tax Supported Debt, shall require both Board of Visitors approval and those pre- appropriation approvals of the State’s governmental agencies then applicable, and shall follow the State’s process for capital budget requests. It shall be the policy of the University that the implementation of capital projects shall be carried out so that the capital project as completed is the capital project approved by the Board for Major Capital Projects and according to the procedures adopted by the President, acting through the Executive Vice President and Chief Operating Officer, for all other capital projects. The President, acting through the Executive Vice President and Chief Operating Officer, shall ensure strict adherence to this requirement. Accordingly, the budget, size and scope of a capital project shall not be materially changed beyond the plans and justifications that were the basis for the capital project's approval, either before or during construction, unless approved in advance as described above. Minor changes shall be permissible if they are determined by the President, acting through the Executive Vice President and Chief Operating Officer, to be justified. Major Capital Projects may be submitted for Board of Visitors authorization at any time but must include a statement of urgency if not part of the approved Major Capital Project program.
AUTHORIZATION OF CAPITAL PROJECTS. 444 The board of visitors shall authorize the initiation of each major capital project by approving its 445 size, scope, budget, and funding. The President of the University, acting through the Senior Vice 446 President for Administration and Finance or designee, shall adopt procedures for approving the size, 447 scope, budget, and funding of all other capital projects. Major capital projects that are to be funded 448 entirely or in part by a general fund appropriation of the General Assembly or proceeds from state 449 tax-supported debt shall require both the board of visitors' approval and those pre-appropriation 450 approvals of the Commonwealth's governmental agencies then applicable, and shall follow the 451 Commonwealth's process for capital budget requests. 452 It shall be the policy of the University that the implementation of capital projects shall be carried 453 out so that the capital project as completed is the capital project approved by the board for major 454 capital projects and according to the procedures adopted by the President of the University, acting 455 through the Senior Vice President for Administration or designee, for all other capital projects. The 456 President of the University, acting through the Senior Vice President for Administration and Finance or 457 designee, shall ensure strict adherence to this requirement. 458 Accordingly, the budget, size, and scope of a capital project shall not be materially changed beyond 459 the plans and justifications that were the basis for the capital project's approval, either before or during 460 construction, unless approved in advance as described in this section above. Minor changes shall be 461 permissible if they are determined by the President of the University, acting through the Senior Vice 462 President for Administration and Finance or designee, to be justified. 463 Major capital projects may be submitted for the board of visitors' authorization at any time but must 464 include a statement of urgency if not part of the approved major capital project program.