Damn, I wish my university had that same attitude. Ours it "It's working? Okay I'm going to throw money at it until it breaks, and then throw more money at it until it's slightly worse than it was to begin with. Then we'll raise your tuition."
They just spent $100 million dollars demolishing and rebuilding the nation's largest non-military cafeteria, when it met and exceeded all codes prior to its demolition. They also spent $4,000 a piece on 100 floor tiles for a dorm that was recently renovated. It's so stupid it just makes sense I guess.