Capital Spending Policy

1. Capital items shall be those that have lasting physical value or those items that shall not be consumed.

2. Capital allocations shall be given yearly during the budgetary process.

A. Any committee or chapter may request capital allocations.

B. Submission of capital requests must be in writing with the advisement of that committees/chapters adviser.

3. All Capital funds will be approval with the annual budget.

4. Unforeseen capital expenses may be approved by the LEC, with a 2/3 votes and will be recorded as excess spending on the capital budget line.

5. Capital items will be administered as per the inventory policy.

Last Revised 09/20/2001