- 2012-2013 Cornell University Annual Report (16.6MB pdf)
Sept. 26, 2012
Revised university capital project spending guidelines have been announced and are being shared by the Director of Capital Budget Tom Cole. These revised guidelines, approved by the Capital Funding and Priorities Committee, provide units across the university with assistance in determining how to proceed with capital projects and clear direction on funding requirements before a project can go forward.
The capital project spending guidelines were first created in 2009 as a structure to govern how and when a capital project moves through the project approval process. At a summary level, the guidelines require that a project be included in or as an addition to the university's approved capital plan before it can proceed beyond the conceptual or planning phase. A major requirement for inclusion in the approved capital plan is that the project has a full and certain funding plan for the one-time costs of the project as well as ongoing costs resulting from the project (e.g., operating and maintenance costs). The guidelines also have specific restrictions regarding the use of debt financing and requirements regarding the use of gift funding for projects.
The guidelines are intended to be revisited for possible revisions, annually, with adjustments made based on the economic environment and financial position of the university at the time of the review, or for other changes for the purposes of clarification or business needs. The university recently reviewed and revised the guidelines to be effective for the 2012-13 fiscal year. The changes include:
The actual Capital Project Spending Guidelines can be found at: http://dpb.cornell.edu/documents/capital_proj_spend_guide.pdf
They also can be accessed as one of the capital planning resources available at the Division of Planning & Budget's Capital Planning web page.
Vice President for Planning and Budget