Youth Capital Fund
Guidance on Capital Expenditure
2010 - 2011
The YCF is a separate pot of funding with the primary aim of investing in new
youth facilities. Young People from our areas panels are keen to support the
development of larger scale projects for young people that will make a real
difference in local communities.
Grants will be awarded up to a maximum of what is available in the area pot.
See below:
Sedgefield
Easington
Derwentside
Durham & Chester-le-Street
Dales
£50,676
£54,628
£49,509
£79,778
£47,594
Please note that all grant applications for YCF need to reach Rebecca Cardy,
at the address provided on the application form by Friday 16th July 2010
Definition of Capital Expenditure
•
Capital expenditure is defined as expenditure used to acquire, create or
improve long term (fixed) assets such as property, plant or equipment. A
fixed asset is considered to be one which has a useful life of more than a
year.
•
This can include expenditure on land, buildings and other structures,
movable and immovable plant, machinery, fixed furniture and fittings,
equipment (including ICT equipment) and vehicles. Capital funding can be
used to enhance existing assets, such as refurbishing a building for a new
use, but it cannot be used for routine repairs and maintenance.
•
A threshold of £2,500 (excluding recoverable VAT) is applied to
capitalising assets and anything below this limit should not be classed as
capital expenditure (please note this is £2500 per item).
Procurement of Capital Asset
• Professional procurement is about obtaining the best out of the
marketplace and this will require the use of procurement skills in order to
achieve the aims and objectives of a particular contract or project. Durham
County Council has a list of approved contracted suppliers, which should
be used whenever possible when purchasing under YOF & YCF.
•
Where a County Council contract does not exist please consult the
following guidelines relevant to YCF (goods / services over the value of
£2,500)
Estimated Contract Value
Procedure
£2,500 -£6,000
At least three written quotations obtained.
Above £6,001
Tenders may be invited directly from a
reasonable number of capable contractors
(at least three) and if necessary the tender
advertised in at least one local newspaper.
Please contact Martin Lahiffe 0191
3707818 to discuss in the first instance.
After Project Completion
•
Capital assets funded by the YCF must continue to be used for this
purpose after the fund has ended and should not be transferred, sold or
given to another organisation or individual without prior permission
from Durham County Council.
•
In order to provide an audit trail for the assets purchased through YCF and
to ensure that they continue to be used in line with the objectives of the
fund after the grant period is finished, an asset register (Appendix 1) has
been created. This will be part of the monitoring return that projects need
to complete. The following information is required for each asset:
o Name of the group using the asset
o Location of the asset
o Date of acquisition
o Description
o Number (e.g. if several PCs are purchased)
o Make of the item
o Audit or model number
o Where the asset was purchased from
o Cost
Applying YCF Grant to Refurbish / Redevelop of Durham County Council
Owned Buildings
Please contact Service Direct (0191 3835353) for advice & guidance.
Depending what you propose to do, a landlord approval will mostly be
required.
Appendix 1
Youth Capital Fund Asset Register
Project No:
Name of Contact:
Telephone:
E-mail:
Description of
Item
Quantity
_______________________
_______________________
_______________________
_______________________
Make of Item
Model
Number
Name of Group:
Contact Address:
Date of
Acquisition
Purchased
from
________________________________
________________________________
________________________________
________________________________
Cost
(Excluding
VAT)
Copies of
Invoices /
Receipts
Attached
Please complete and return with your Monitoring Return.
Where Stored