Budgeting
16.1 Overview
Funding for Capital can come from a number of sources. A list of sources is shown in Part I. .
16.2 Responsibility/Accountability
16.2.1 Cabinet (click here for all responsibilities for the Cabinet)
Approval of bids for capital resources and the sale of capital assets.
Approve the allocation of corporate resources in accordance with the Capital Strategy.
16.2.2 Directors (click here for all responsibilities for Directors)
Leading in the development and monitoring of a strategy for dealing with corporate assets.
16.2.3 Section 151 Officer (click here for all responsibilities for the Section 151 Officer)
Certify bids for capital grants.
Provide advice and support for identification of and application for funding sources.
16.2.4 Business Unit Heads (click here for all responsibilities for Business Unit Heads)
Preparing bids for capital resources.
Identification of surplus and under utilised assets.
Complete the Capital Scheme Evaluation procedure for specific schemes.
Obtain the certification of the Section 151 Officer for all grant bids and acceptances.
Provide information to the Section 151 Officer detailing any financial limitations associated with grant funding.
16.3 Policy
External funding sources are to be maximised. Business Units should be looking to generate their own capital resources due to the shortage of corporate funding. All revenue implications must be identified and budgeted for. All General Fund non-technical capital receipts will be top sliced with 5% of the net receipt (after allowing for costs of disposal) being available for capital scheme development. In addition 80% of the cost for the project management team will be funded indirectly through the generation of capital receipts.
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