CPM 504–01: Building Renewal Funding
To ensure that state-appropriated building renewal funds are allocated to capital projects in a manner consistent with the intent of the Arizona State Legislature
Arizona Revised Statutes § 41–790
Arizona Board of Regents Policy Manual - 7-102 to 7-114
All capital projects
Building renewal funds appropriated by the state shall be used for projects that meet the legislative building renewal definition. Such projects, hereinafter referred to as “building renewal projects,” will be identified by the Capital Programs Management Group during the annual Capital Project Request Process.
Building renewal projects will be specific as to campus buildings, and pools of funding for various nonspecific projects shall be prohibited. Available building funds shall be encumbered and/or expended as soon as possible within the fiscal year that funds are allocated. The agency/org manager is responsible for compliance with the building renewal definition. Financial Services may monitor expenditures to ensure compliance with the building renewal definition.
For additional information on building renewal, see the Financial Services Policies and Procedures Manual—FIN 116, “Expenditure of Building Renewal Funds.”
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