The costs of building projects at Warwickshire’s schools will be protected from potential increases in costs following the county council’s approval of a fund to get aspects of schemes started earlier
A £1.4m fund has been approved to create the Education Capital Development Fund, which will support the Schools Capital Programme and will provide funding for schemes to progress, prior to full approval from Cabinet, through initial planning.
This will mean that there is greater certainty around initial costs and, critically in guaranteeing sufficient places in schools, that deadlines are not compromised and there is sufficient accommodation within specified timescales.
School building schemes can now be progressed to RIBA (Royal Institute of British Architects) Stage 3, at which point concept design, the co-ordination of architectural and engineering information and costing exercises are being carried out, using ECDF money. This would not otherwise be available until schemes had gone through Cabinet for approval and added to the Schools Capital Programme
The ECDF will come from a top slice of the Basic Needs Grant, which in turn comes from the Department for Education and gives local authorities funding to build or expand school settings. This will then be replaced and the grant topped up, when schemes come on stream, from their capital budget.
Cllr Peter Butlin, Warwickshire County Council’s portfolio holder for finance and property, said: “This change to how we finance initial stages of schools capital projects makes perfect sense and has two great benefits. The greater certainty of final costs which we can safeguard with earlier engagement is a clear financial benefit.
“Achieving that, while ensuring that we are as far into a project as possible once it gets approval to start so that we can ensure there is high-quality premises for our children to receive their education, is clearly an excellent outcome.”