Can be wasteful or limiting when making any kind cap. By next time, look at possibilities to find an equitable way to categorize projects. Need being the driving basis - in categories, major new projects and then everything else. And have a dollar limit. Funding mechanism and rating system is separate.
Programming is an important part, initial analysis of the structure.
How do you make some sort of reasonable balanced approach with big projects vs. small projects. The protected list was political because some schools could never get to the top. If you have a good rating system, your money would get to the most needy. Rated in category then overall need in both categories. Add a weighting system - so small projects could compete against large projects.