Page 22 - Trust Master Funding Agreement

3.4 Except with the Secretary of State’s consent, the Academy Trust must not make commitments to spending which will have substantial implications for future grant. No decision by the Academy Trust will commit the Secretary of State to paying any particular amount of grant.
Capital Grant
3.5 The Secretary of State may pay a grant (“Capital Grant”) to the Academy
Trust for the purpose of spending on items of Capital Expenditure.
3.6 “Capital Expenditure” means expenditure on:
a) acquiring land and buildings;
b) erecting, enlarging, improving or demolishing any building including fixed plant, installation, wall, fence or other structure, or any playground or hard standing;
c) installing electrical, mechanical or other services other than necessary repairs and maintenance due to normal wear and tear;
d) buying vehicles;
e) installing and equipping premises with furnishings and equipment, other than necessary repairs and maintenance due to normal wear and tear;
f) installing and equipping premises with computers, networking for computers, operating software and ICT equipment, other than necessary updates or repairs and maintenance due to normal wear and tear;
g) providing and equipping premises, including playing fields and other facilities for social activities and physical recreation other than necessary repairs and maintenance due to normal wear and tear;
h) works of a permanent character other than the purchase or replacement of minor day-to-day items;
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