The Committee on Finance and Facilities discussed UF’s ongoing construction projects at a brief meeting Friday in preparation of the Board of Trustee’s next meeting, which will take place April 2-3.
Committee chairman Jason Rosenberg said at the meeting, which lasted about 15 minutes, that all of UF’s major construction projects are on schedule and within budget at the meeting.
The five major construction projects so far are projected to cost just under $200 million. The university has about $245 million allotted to the projects.
Rosenberg said projects are allowed a couple weeks of wiggle room in terms of a completion date, but there have been no issues so far.
“There have been no significant delays on any particular project,” Rosenberg said.
The committee also had preliminary discussions on the 2015-16 transportation and parking auxiliary budget, which is projected to have $10.5 million of expenses. The budget estimates there will be just more than $21 million in total revenues available.
Rosenberg said because the Board of Governors did not specify a method to determine reserve funds in the budget, the committee is relying on studies from Walker Parking Consultants to determine how much money to maintain in reserve accounts.
“We can also build our reserves further if we anticipate additional construction needs or other facility issues,” Rosenberg said.
The budget, submitted by Vice President for Business Affairs Curtis Reynolds, will be discussed in greater detail at the April 2 meeting.
[A version of this story ran on page 5 on 3/23/2015 under the headline “UF is right on the money: All campus construction on schedule”]
Chemistry/Chemical Biology Building:$66,600,000; Projected completion: May/June 2016
Reitz Union expansion and renovation:$74,700,783; Projected completion: Fall 2015
Cypress Hall:$21,900,000; Projected completion: June 2015
Harrell Medical Education Building: $45,419,000; Projected completion: July 2015
Indoor football practice facility: $15,000,000; Projected completion: September 2015
To view the full budget: trustees.ufl.edu/media/trusteesufledu/documents/Committee-on-Finance-and-Facilities.pdf
