Tag: Funding

Funding is one of the key considerations for any building project. Munday + Cramer can assist clients with securing funds via a number of different schemes. This is dependent on your organisation type, as well as the type of project you are going to be building.
CIF (Condition Improvement Fund) funding
Schools that have converted to form academies, often have buildings which require improvement or expansion. The ESFA have recognised this and therefore have created the CIF fund, to provide money to academies to address this. The academy must make an application for the money, to include details of the proposed works as well as a study detailing the cost of no action. The academy should expect to invest some money of their own, either by capital expenditure or Salix loan. Popular schemes include heating, roofing, window replacement, drainage, toilet refurbishments and additional classroom or communal area space.
LCVAP Funding
This funding is administered by the Diocese with the co-ordination of the LAs and Church of England. Projects funded in this way have no restrictions placed on size. Additionally, the type of capital projects are unrestricted, so long as those works are within the remit of the governing body. The fund provides up to 90% of the required money for the project, with the remaining 10% being governor’s liability.
Devolved Formula Capital (DFC)
DFC is a formula-based grant available to all VA schools.  Exceptions are:

Schools which open in a new building or move into a new building
A school which is due for closure.
Schools which enter into a PFI contract. In this case the grant is withdrawn from the year following the contract signing. It is returned in the third year after the service is started. It is then at 50% of the standard rate.
A school which is included in Building Schools for the Future (BSF)

DFC grants can be rolled forward, but must be spent within three years of allocation. DFC grants support all types of capital work as long as it is governing body responsibility. There is a minimum project cost of £2,000 but no maximum cost.