Capital Improvements allow ASOC Student Services to grow and develop through the purchase of items beyond the scope of their yearly operating budget.
The Capital Improvement Fund provides for purchases outside the range of the yearly operating budget.
Guidelines:
- Item must last at least 3 years without needing updates. Departments are required to submit documentation on how the capital items will be stored and secured.
- A capital improvement expense must be significant enough that it would not ordinarily be purchased within a department's operating budget, usually at least $500.
- Capital improvements can be individual items or systems. Systems are defined as items that do not work alone (e.g., A/V systems). Additionally, items that will protect the purchase from damage (e.g., bags, containers, warranties, etc.) can be included in the request.
- Computer software is not eligible for capital improvement because it changes rapidly. Departments should purchase software using their operating budgets.
- Submissions are accepted throughout the academic year. Submission deadlines are determined by Senate agenda requirements.
- Once funding is approved, the receiving department is responsible for following through with purchases. Any unspent allocations will be returned back to the ASOC budget at the end of the fiscal year. The Senate Advisor and ASOC Finance Manager are not responsible for completing purchases while school is out of session, unless previously arranged.
Application Process:
- Student Services should submit their requests via email to the ASOC President, ASOC Advisor, and ASOC Finance Manager.
- All requests must be reviewed by the ASOC Advisor and the ASOC Finance Manager prior to being presented to Senate to confirm whether the requested items meet the guidelines and that the plans for protecting the investment are adequate. The ASOC Advisor will offer a report to Senate on the adequacy of the request.
- The ASOC President and ASOC VP for Finance will forward the request to the Executive Committee pending its review. Any requests found to be insufficient to be presented in the Executive Committee will be returned to the requester with notes on why it was rejected. ASOC Executive Committee shall vote on eligible requests at the following Executive Committee meeting. The requesting department is strongly encouraged to attend this meeting.