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Major Repair and Rehabilitation


    Policy Statement
    In accordance with Board of Regents policy, it is the policy of the University of Georgia to establish MRR project budgets separate from the regular operating budget of the University. All MRR projects will be accounted for as separate line items.
    Reason for policy

    This policy provides guidance for the establishment of budgets for Major Repair and Rehabilitation (MRR) projects.

    Procedures
    Forms/Instructions

    There are no forms associated with this policy.

    Additional contacts

    Policy Contact:  University Budget Office

    Phone Number: 706-542-2802

    Email:  budgets@uga.edu

    Policy definitions
    Major Repair and Rehabilitation - Major Repair and Rehabilitation projects are approved on an individual project basis and are funded annually by the Board of Regents. These funds are budgeted to support costs for capital facility repair and rehabilitation.  MRR funds may only be used for resident instruction facilities and are based on an allocation formula that includes criteria such as:  adjusted square footage for resident instruction space; adjusted age of the building; and special or unique renewal factors. Major Repair and Rehabilitation project budgets cannot exceed $1 million per project.  Projects exceeding $1 million must be funded as minor or major capital projects.  While MRR funds do not carry over into subsequent fiscal years, they may be redistributed and spent on other University System of Georgia Board of Regent-approved MRR projects.
    Responsibilities

    Responsible University Senior Administrator:  Vice President for Finance & Administration

    Responsible University Administrator: Senior Associate Vice President for Finance & Administration

    Policy Owner: Budget Division

    Policy Contact:  University Budget Office

    Phone Number: 706-542-2802

    Email:  budgets@uga.edu

    Record Retention

    Description:  This series includes: operating budget expense by categories and functions report; estimated gifts, grants, contracts and clearing account summary report; student fee income and application of funds report; statewide public service source and application of funds; other reports specified by the Chancellor's Office; and institutional budget preparation instructions.

    Retention:  Annual operating budget: PERMANENT; All other records: 7 years.

    Policy Appendices

    There are no appendices associated with this policy.

    FAQs

    There are no FAQ's associated with this policy.