An Cridhe: we’re almost
there…
The entire financial plan: funding, costs and sustainable
revenue generation is constantly being reviewed. Below are some details of
changes made since the finance plan was presented in Nov 2009.
Funding:
The great news is that SNH decided to reconsider the An Cridhe grant application
and are now funding the project! We are left with a shortfall of £5,365 which we
expect to be able to cover with a last push on community fundraising.
Revenue Funding:
In the current economic climate, recent discussions with the council indicate
that a funded service point is unlikely for An Cridhe. We have made adjustments
to percentages of funding allocated and reviewed staffing levels required.
Capital Costs:
-
Different funding bodies are happy to accept
different types of land valuation and will apply their funding
accordingly.
-
Part of the difference between the two types
of land valuations will need to be funded by monies from sources
that are not restricted in any way, such as trusts, foundations
and community fundraising.
-
Highlands and Islands Enterprise recently
commissioned a valuation from the District Valuer which returned
a value of £160,000.
-
Of our two major funders, one (the Lottery)
is bound by the valuation from the District Valuer, but has
agreed to be flexible and will increase the percentage funding
for other costs such that their overall contribution remains the
same.
-
The second major funder has advised us to get
an up to date independent commercial valuation. This has come in
at £260,000.
-
The second major funder accepts this
valuation and will use it to calculate their eligible costs
which they have approved at the substantial rate of 40%.
-
The overall effect of the above is that
there is no loss in funding contribution from any party, nor is
there a need for additional funding.
The next Lottery Committee meeting (due in April) is to be
updated with the above changes, plus the community consultation results of Nov
2009. Following this, we expect to be able to move onto the next stage of the
project in May.
If you would like a more detailed update on the changes to
the financial plan or any other information about the project, please contact
Development Coll.
Recycoll
Glass Imploder Project is now fully funded, and the machine
has been ordered. Recycoll and Development Coll have attracted funding from the
Climate Challenge Fund and Awards for All. Recycoll is contributing £1000
towards the project. We hope that the machine and suitable glass bins will be in
situ by the end of April.
Coll Kids Club
Youth Group – Received £395 from the Health Initiative Fund –
this has been used for buying new equipment for the Kids Football Club, and for
specific training for physical activities. Very successful beach activities
morning held during half term.
Please note: this update is being sent to every household.
The norm in future will be for it to be posted on notice boards.