Maintenance Reserve is a component of the Commonwealth’s capital outlay budget appropriated by the General Assembly each biennium. Initiated in the 1982-84 biennium, Maintenance Reserve addresses the need for an on-going financial commitment to address deferred maintenance needs within state facilities and covers major repairs costing between $25,000 and $2 million per project.
Maintenance Reserve funds address the deterioration of building systems, thus extending the useful life of a facility. Maintenance Reserve funds, combined with capital renewals, play a crucial role in the management and reduction of VCU’s deferred maintenance backlog.
For more information about the university’s budget, visit the VCU Office of Budget, Analysis and Financial Planning website.