Capital Projects Finance Committee (CPFC)

Provides capital resource strategic advice for the performance of financial and operational capital project review.

The CPFC provides capital resource strategic advice in the performance of financial and operational reviews of capital projects to the Capital Planning Committee (CPC), the Executive Vice Chancellor and Provost, and the Chancellor. The CPFC helps provide institutional assurance that each capital project has a realistic and sustainable funding plan within the larger real estate portfolio.

Summary of the Committee Operations

The CPFC will collectively have the experience and business judgment necessary to evaluate the information presented to the CPFC with respect to capital and real estate. Committee members shall be appointed for three year terms by the Chancellor/Provost, based on nominations put forward by the CPC, Academic Senate, and other parties. The Committee shall meet as frequently as necessary to fulfill its duties and responsibilities, and not less frequently than quarterly. A meeting of the CPFC may be called by its Chairperson or any two members of the Committee. In fulfilling oversight responsibilities, each Committee member shall be entitled to rely on the integrity and expertise of those persons providing information to the Committee and on the accuracy and completeness of such information, absent actual knowledge of inaccuracy.

CPFC Charge:

Develop and maintain a financial model through which capital projects will be evaluated for feasibility.

Systematically evaluate the funding plans for all capital projects (referred by CPC and greater than $10 million) to assure financial viability and alignment to available financial resources. The CPFC's evaluation should:

  • Validate that the proposed funding plan is in compliance with financial, accounting and campus standards;
  • Assess the school/college/unit unrestricted and/or restricted reserve commitment to the project;
  • Identify funding sources and qualify projects for applicable external funding;
  • Assess the school/college/unit financial capacity to assume annual debt service, should any external financing be required to complete the project;.
  • Assess the feasibility of planned fundraising in coordination with University Development and Alumni Relations;
  • Ensure that the funding plan sufficiently covers the life cycle maintenance and renewal costs of the new building/structure;
  • Balance individual project goals within the campus risk profile.


Chair (non-voting, by ex officio appointment):

  • Marc Fisher, Vice Chancellor for Administration

Three faculty members:

  • Nicolae Gârleanu (July 1, 2020 - June 30, 2022)
  • Dmitry Livdan (July 1, 2020 - June 30, 2022)
  • Annette Vissing-Jorgensen (July 1, 2020 - June 30, 2023)

Two external expert advisors:

  • Steve LoPresti (July 1, 2020 - June 30, 2022)
  • Roslyn Payne (July 1, 2020 - June 30, 2023)

Institutional leaders (voting, by ex officio appointment):

  • Rosemarie Rae, Vice Chancellor for Finance, Chief Financial Officer
  • John Arvin, Associate Vice Chancellor of Capital Strategies
  • Adile Quennarouch, Executive Director of Finance and Capital Asset Strategies
  • Julie Hooper (or designee), UDAR representative

Institutional Observers and Committee Staff (non-voting):

  • David Robinson (or designee), Office of Legal Affairs representative
  • Wendy Hillis, Campus Architect and Assistant Vice Chancellor
  • Judy Chess, Director of Capital Planning
  • Peter Gorman, Capital Strategies
  • Elliott Park, Capital Strategies
  • Chris Yetter, Office of the Executive Vice Chancellor and Provost