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Capital Budget

All capital expenditures of the Association and its agencies (including the business projects) shall be contained in the Capital Budget, along with the sources of funds required to finance those expenditures, unless they are either (1) contained in the Operating Budget of the Association, or (2) contained in the budget of a business project and fully financed by the current operating revenues of that project.

The Capital Budget shall be approved by the Senate during Spring quarter for the following fiscal year. If no Capital Budget is approved by the Senate by the beginning of the fiscal year, the Capital Budget for that year shall be zero; however, this shall not prevent the Senate from approving a subsequent modification to it.

Approval or subsequent modification of the Capital Budget shall require a two-thirds vote of the Senate.

Mon May 9 17:09:02 PDT 1994