Financing - Capital Investments.
Significant capital investment will be required to fund occasional purchase or replacement of quite large individual capital items basic service equipment, which will be used by all units of AURA-O (e.g. a bulldozer, a Shuttle bus or a fire truck). It is proposed that the necessary capital funds be drawn from "User" assessments on an annual basis.
AOSS, working through its local AURA-O Users' committee will be responsible
for proposing its equipment renovation plan annually to the AURA-O Management
Council of Directors for approval. When the AURA-O Management Council
of Directors has approved a plan for large capital expenditures for the
next financial year (this approval will normally occur in mud September),
the funds required to meet such plan will be charged to Users' units on
an agreed percentage basis in the first quarter of every fiscal year,
and will be fully obligated before the end of that year.
Association of Universities for Research in Astronomy, Inc.