Why does UConn want direct financial management control of its capital projects?
Under the current system, the University must often wait years for initiation and completion of construction, renovation and maintenance projects not under its control. Its analysis estimates that eliminating bureaucratic obstacles and increasing management flexibility would cut the cost of the proposed projects by millions. The University’s track record since it was given direct financial management responsibility for projects under $2 million reinforces that analysis. Since UConn was granted this limited autonomy, projects have been completed in one-third of the time similar projects took under the old system of management. The success of every thriving public research university in the country – institutions like the Universities of Michigan, Wisconsin and Ohio State – rests on three factors: consistent and reliable financial support from the state; direct financial management control; and a significant fund raising capability. This initiative is designed to secure all three for the
