E&G Maintenance Reserve
Maintenance reserve (MR) projects are repairs to restore or retain the functionality of a system or are replacements to equipment or property with the intent of extending the functional life of the equipment or property.
MR projects are not intended enhance, upgrade, or otherwise improve equipment or property unless that is incidental for the main purpose of the project. Additional details, including MR project criteria, are provided in the Maintenance Reserve Overview and Definitions document available through the Capital Budgeting & Financing Maintenance Reserve page.
Educational and general (E&G) maintenance reserve funding may be provided to fund projects for foundation-owned and auxiliary facilities that have an E&G function.
Funding limits:
- Projects should cost between $25,000 and $2 million.
- Project costs up to $3 million may be allowed. Capital Budgeting & Financing must request approval from the state of Virginia before the project is allowed.
- Roofing projects may be approved for up to $4 million.
Applications for MR projects need:
- Requestor contact information
- Project information identifying the type of project, repair/replacement criteria, and any critical system involved
- Fiscal year for implementation of the project and the estimated cost
- Descriptions of the equipment or property issue, the proposed work for repair or replacement, and the impacts on systems or programs
- Supporting documentation, as applicable