§ 15-10-47 — Construction projects at institutions of higher education - Variance reports

1. Whenever any new construction, renovation, or repair, valued at more than two
hundred fifty thousand dollars is underway on the campus of an institution of higher
education under the control of the state board of higher education, the board shall

provide semiannual project variance reports to the director of the office of
management and budget. Each report must include:
a. The name or a description of the project;
b. The expenditure authorized by the legislative assembly;
c. The amount of the original contract;
d. The amount of any change orders;
e. The amount of any potential or anticipated change orders;
f. The sum of subdivisions c through e and the amount by which that sum varies
from the expenditure authorized by the legislative assembly;
g. The total expended for the project to date; and
h. The scheduled date of completion as noted in the original contract and the latest
available scheduled date of completion.
2. The state board of higher education also shall provide to the director of the office of
management and budget, at the same time as the project variance report required by
subsection 1:
a. A brief description of each change order included in subdivision d of subsection 1;
and
b. A list of each public and nonpublic entity that has a contractually reflected
financial obligation with respect to the project.
3. The office of management and budget shall review the information received under this
section and provide reports to the budget section of the legislative management upon
request.