Investing In Devon Funding (Airport money) – 2011-2012
All County Councillors have been allocated a further £25,000 for distribution by way of grant from the remaining sums left from the capital receipt Devon County Council received following the sale of Exeter Airport. This £25,000 is available for each Councillor to grant as from the financial year 2011-2012.
Please note that there is an expectation that this allocation will be ‘spent’ within 3 years.
NB This £25,000 is in addition to the original (2007) allocation of £25,000 and any remaining balance from that can be added to this new allocation.
Criteria for allocation
The £25,000 can only be granted for capital projects and therefore, cannot be used to finance any revenue aspects of a projects or initiative. For example, capital build projects such as a refurbishment of a youth club may be eligible for funding whilst funding a youth worker to support the operation of the youth club will not. The County Council’s Community Strategy and Finance Teams can offer guidance with regards to what constitutes capital funding for the purposes of this funding stream.
This capital funding can be used to support capital initiatives led by community groups or other outside bodies – these will be referred to as ‘external’ (or third party) grants - or can be used to support capital projects led by the County Council (eg minor highway/footpath improvements), which will be regarded as ‘internal’ grants.
NB The original criteria for the use of Investing in Devon (Airport Money) Funds as agreed by the Executive in November 2007 still apply and can be found in the following committee report
Process for accessing funding
Once a Councillor has decided to support a project then the appropriate form –‘Investing in Devon – Members’ Capital Allocation’ – Application Form - must be completed for all projects whether external or internal.
Process in relation to all funding applications
Once the relevant form has been completed this is returned to the Locality Development Officer/Community Strategy Officer for the geographic area within which project is based.
The form is then processed by the County Council’s Finance team and checked for financial accuracy and capital eligibility. After this the application is taken to the Investing in Devon Member Panel to approve (or not) the grant or scale of grant. If approved by the Panel then formal Council approval to enhance the capital programme will be required via the Cabinet Member for Policy and Resources.
If formally approved then all ‘external’ applicants must enter into an agreement with the County Council as regards the use of the funding and publicity of the County Council’s investment before funds can be released. Once the external body has agreed the terms of the agreement and returned a signed agreement to the County Council Legal Team funding will be made available – normally only on the basis of receipted invoices for expenditure incurred.
Please note that the process can take several weeks to complete.