Capital Planning
What is a Capital Project?
A capital project is a project with a total cost in excess of $100,000, excluding movable equipment, that creates an new building with a useful life in excess of one year, extends the useful life of an existing building, or corrects a significant backlog of code correction, handicapped barrier removal, or life/plant protection projects. A capital project also includes acquisitions of large equipment and construction of improvements for modernization, emerging technologies, and other improvements from the room level to building wide. Funding for these projects may be through capital appropriations (state or federal), operating budgets, gifts, grants or bond proceeds.
The capital request form is not intended for facilities modifications. Some projects are not eligible for formal capital funding mechanisms and rather rely on internal funds, grants, or gifts to complete. A facilities modification is used for space changes such as:
- change in size/shape/access (e.g. demolition of office walls to create an open office area)
- change in use (e.g. converting a classroom to an office suite)
- change in assignment