A capital project may be financed by a variety of different fund sources. A project may be supported from Commonwealth of Virginia general funds, auxiliary funds, Foundation funds (gifts), grants, and other university sources. These may be in the form of either cash or debt service. Any department planning for a capital project should contact the Office of Capital Assets and Financial Management. A sound financial plan must be generated and will be a prerequisite to getting a project underway.
Renovation projects are typically funded through operating or reserve budgets managed by the customer department. When the customer submits a service request through HokieMart, the fund selected is encumbered for the estimated cost of the project.