Grant Funding: Your Agreement
If you are successful in your bid for Capital Grant Funding, you will receive an email notification informing you of the amount of funding that you have been awarded and you will be required to sign the contract stating that you agree to deliver your project as per the terms and conditions. In the excitement of accepting the offer of funding and getting started on the project, people regularly overlook important aspects of the Funding Agreement.
In order to ensure that your project runs smoothly, I have prepared "5 Key Points" that you should be aware of before you sign the Funding Agreement:
- Make sure you note the exact amount of funding that you are being offered and be mindful that this amount will not cover the cost of VAT
- It's great to have received the full amount that you have requested, however there are occasions when Part Funding is awarded instead.
- Make sure you upload your Bank details
- Without your bank details (sort code, account name & number) we cannot reimburse your funding! It is good practice to upload your bank details as soon as you sign the Funding Agreement. However, it should be uploaded no later than mid-January to ensure that you can receive your funds promptly.
- Check the Grant Conditions
- You may have requested funding for several measures, however, the funding you have been awarded may only be to cover a particular aspect of your proposed project.
- Don't forget to log your monthly reports
- Monthly report/update/progress report - call it what you will, but it is an essential part of keeping us informed of how your project is coming along. You will receive an email reminder at the start of each month, however it is your responsibility to complete this - even if it's just a one-liner to say, "no further progress to report this month"!
- Uploading Evidence
- As your project draws to an end, you will need to ensure that you are uploading your evidence on to the Jambusters site promptly. This evidence must be uploaded to your site by the absolute latest, Thursday 22nd February 2024.
GLOSSARY:
Funding Agreement - This is the contract that you sign when you accept (or decline) the funding offered. It is available on the Jambusters site from the moment that you are offered your award amount. Simply log on to Jambusters and click on the "Grant" tab on your page to view the agreement at any time.
Part Funding - You may have been awarded part of the amount that you requested and not all. This can happen due to a number of reasons. Commonly this occurs when no quote was provided within the application to give a clear cost of a project. For example, you might have applied for £5,000 "for scooter storage". However, I am aware that scooter storage can be purchased and installed for less than £1,000. Part Funding may also occur when the grant conditions outline that only particular aspects of your project will be funded.
Grant Conditions - This will appear within the first few lines of your Funding Agreement. The Grant Conditions specifically outline what the awarded amount can be spent on. This could be "Towards X as requested". Or it may be that you requested funding for, "pedestrian shelter and seating areas, as well as the replacement of existing bike storage", however your Grant Conditions state, "Towards the replacement of the existing bike storage only". In this instance, whilst you may choose to install the additional items yourself, ONLY the Grant Conditions will be provided reimbursement.
Evidence - This refers to the Supplier Invoice (the invoice from the contractor(s) who has completed the installations on the school site), Photos (of completed installation), Final Invoice (invoice from your school to me, to request the reimbursement of funding).
