G5: Development, Adoption, Acceptance and Amendment of the Capital Budget

Responsibility for Maintenance: Financial Services

Date of most recent changes: March 28, 2016

I. Policy Statement 

This policy sets forth the requirements for the development, adoption, acceptance and amendment of Onondaga Community College’s Capital Budget.

II. Reason for Policy 

This policy facilitates compliance with the New York State Education Law and the corresponding Education Department regulations governing community college capital budgets.

III. Applicability of the Policy 

All members of the College community should be familiar with this policy.

IV. Related Documents 

V. Contacts  

  Subject Office Name  Title or Position  Telephone Number  Email/URL
Capital Budget Matters Financial Services Senior Vice President & Chief Financial Officer (315) 498-2268 m.r.manning@sunyocc.edu
Chargeback Matters Financial Services Student Accounts Office (315) 498-2367 studentaccounts@sunyocc.edu

 

VI. Definitions  

 Term  Definition
Capital Budget  A continuous budget that provides funds for the alteration and/or improvement of College property and the physical plant.
Chargeback  Funds which the College has recovered from other community colleges, as required by law, to offset the capital costs attributable to admitting non-resident students.

 

 VII. Procedures 

State Assistance for Capital Costs and Form of the Capital Budget 

The College administration will prepare a proposed Capital Budget in accordance with the procedures set forth in Article 8 of the New York Code of Rules and Regulations. The form of the Capital Budget will be in accordance with the requirements of SUNY and Onondaga County. The administration will present the proposed Capital Budget to the College's Board of Trustees for review and approval. The College's Board of Trustees will then submit the approved Capital Budget to Onondaga County.

Upon receiving the approval of Onondaga County, the College's Board of Trustees will submit the Capital Budget to the SUNY Board of Trustees. Once approved, the SUNY Board of Trustees will submit the Capital Budget to the Governor for inclusion in the Executive Budget.

Capital Budget Items 

The Capital Budget will include, but is not limited to, the following items:

  1. Real property acquisition; 
  2. Site selection studies, surveys, appraisals, relocation of tenants and owners, demolition and other costs associated with acquiring real property;
  3. Preparation of plans and specifications; 
  4. Supervision and inspection of construction; 
  5. Construction of new facilities; 
  6. Major changes in the function, use or capacity of existing facilities; 
  7. Alterations and improvements to existing facilities; 
  8. Identification, design and specification of capital equipment; 
  9. Acquisition and installation of equipment in new construction, and; 
  10. Acquisition and installation of equipment in projects involving major changes.

Issuance of Bonds or Notes 

Onondaga County may authorize the issuance of bonds or notes pursuant to applicable law to fund all or any portion of its requisite share of the College’s Capital Budget.    

Architectural Fees 

The College will budget funds for architectural service fees in accordance with a schedule of fees established by the President or his or her designee. Management Services shall be responsible for ensuring that the College does not incur expenses for duplicate fees.

Real Property Acquisition 

  1. Acquisition by Gift: The College will acquire real property by gift after approval of the site by the SUNY Board of Trustees.
  2. Acquisition by Purchase or Condemnation: The College will acquire real property by purchase or condemnation after an appraisal has been prepared and the SUNY Board of Trustees has approved the selection of the site, the educational value of the property and a Capital Budget which includes the acquisition costs. Appraisals of real property will be conducted in accordance with New York Code Rules and Regulations Part 603.5(b).

Real Property Title 

Onondaga County shall acquire and hold the College’s real property in trust for the College. In the event that the College's Board of Trustees and the SUNY Board of Trustees have passed resolutions declaring that real property is no longer useful or required for the College’s purposes, the real property may be disposed of in accordance with New York Code Rules and Regulations Part 603.5.

Capital Budget Amendment 

The College administration will initiate amendments to the approved Capital Budget. All amendments to the approved Capital Budget are subject to approval by the College's Board of Trustees, Onondaga County, and the SUNY Board of Trustees.

Capital Cost Chargeback for Nonresident Students 

The College shall deposit into its segregated funds those monies received from the Chargeback. These funds shall be separately accounted for and used for the limited purposes outlined in 8 New York Code of Rules and Regulations § 603.7.

 

 

Approved by OCC Board of Trustees April 3, 2006

Updated and approved by the President March 28, 2016