PROJECT STUDIES AND BUDGET PACKAGES - 6810
(Revised and Renumbered from 6828.)
After a preliminary review of the department’s Capital Outlay Budget Change Proposals (COBCPs) or Capital Outlay Concept Papers, should a study be needed, Finance may recommend one of three approaches: (1) a project specific study phase approved via a COBCP, (2) the use of existing department authority, or (3) the use of existing Capital Outlay Planning and Studies funding (BU 9860). The objective of the study is to understand the project’s feasibility and to refine the project cost estimates. Finance uses this information along with a revised Project Cost Summary, prepared by DGS, for budgetary decision-making purposes. The most common type of project study is a budget package.
Budget Packages
A budget package is the formal output used to communicate preliminary project information, which is then used by departments to develop the related COBCP. The completed budget package contains the following:
- Executive Summary
- Project Description and Proposed Scope
- Project Cost (Project Cost Summary)
- Schedule Summary
- Technical Specifications
- Proposed Layouts and Adjacencies
Capital Outlay Planning and Studies Funding (BU 9860)
The annual Budget generally includes a small amount of funding for statewide planning and studies. These funds are allocated by Finance to state agencies to develop design and cost information for new projects for which funds have not been appropriated previously, but which are anticipated to be included in future budgets.
For departments that need to access capital outlay planning and studies funding, they should reach out to the Finance capital outlay counterpart to demonstrate the need and cost for the study as well as the expected project scope. The agreed upon scope is memorialized in a “Statewide Planning and Study Authorization Request Form” document, which will be provided by Finance staff.