Proposed Revision to 1003.4.2 - Capitol Construction Bids Exceeding Authorization
Board policy:
1. When bids for capital construction projects
which have been approved by the Board of Regents exceed the authorized project
funds, the following procedures shall apply.
Procedures:
1. Bids
exceeding project authorization by less than 10%. If the acceptable bid is less than 10% over the amount authorized
by the Board of Regents, the Capital Construction Administrative
and Budget Committee by majority vote may approve the additional
authorization upon the recommendation of the Commissioner of Higher Education.
The
Commissioner shall certify that funds are available and provide necessary
written documentation in advance.
The
action of the Committee shall be reported to the next meeting of the Board of
Regents.
2. Bids
exceeding project authorization by 10% or more. If the acceptable bid is 10% or more over the amount authorized
by the Board of Regents the matter shall be referred to the Board of Regents
for approval of the additional authorization.
The
Commissioner shall provide necessary written documentation in advance.
History:
Item 26-011-R0180, Capital construction
bids exceeding authorization, Montana University System, January 7, 1980.