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Financial Services
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Who is responsible for funding disbursements for colleges and universities during the initial stages of the project?
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Answer:
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If the project has not yet bonded, the college or university must advance funds prior to the State of Michigan processing a disbursement to a vendor so that the state does not incur a cash deficit for the project. The portion advanced by the college on behalf of the State Building Authority will be returned to the college once the project bonds.
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