[Cobo] Update on Deferred Maintenance Funding

[Hathaway, Nick]

Business Officers,
I look forward to working with each of you to advance your institutions and the state system as a whole. I know many of you are wondering about the timing of the arrival of deferred maintenance funds. This update contains the best information that we have available.
Update on Deferred Maintenance Funding
While originally intended for distribution over three fiscal years, the entire $101,250,000 designated for higher education will be allocated this fiscal year, FY26.
The Long-Range Capital Planning Commission (LCRF) is scheduled to hold a meeting on September 11th to review the deferred maintenance program. We are hopeful that funds will be authorized for distribution to the Regents at the meeting. We will provide an update on the timing of the transfer of funds from the Regents to the institutions once the distribution to the Regents is approved.
Future Funding:
As we await the official release of funds, please note that a new mechanism for deferred maintenance allocation will not exist after this year until sales tax apportionment in FY29.
Actions Requested:

  *   Reporting on Past Funds: Please ensure you have reported on what you have done with money previously allocated to your institution. We need detailed information, including the total project cost and the portion funded by OCAMP.

Please don't hesitate to reach out with interests or questions, 405-570-6956.

Nick Hathaway
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