Page 23 - Trust Master Funding Agreement

i) any major repairs or replacements which are specified as capital expenditure in any grant letter relating to them;
j) such other items (whether like or unlike any of the foregoing) of a substantial or enduring nature which the Secretary of State agrees are capital expenditure for the purposes of this Agreement;
k) professional fees properly and reasonably incurred in connection with the provision of any of the above;
l) VAT and other taxes payable on any of the above.
3.7 Any Capital Grant funding that may be made available to the Academy Trust will be notified to it by the Secretary of State.
3.8 The Academy Trust must spend Capital Grant only on items of Capital Expenditure approved by the Secretary of State and in accordance with conditions specified by the Secretary of State. Further, the Academy Trust must provide evidence that it has obtained all planning and other consents required for any proposed building and infrastructure development to be funded using Capital Grant.
3.9 In order to receive payments of Capital Grant, the Academy Trust must provide supporting invoices and certificates in the format specified by the Secretary of State.
3.10 The Academy Trust must provide an account of Capital Grant received and associated spending on Capital Expenditure using Capital Grant in the Academy Trust’s financial statements and any financial reports or returns that the Secretary of State may require.
3.11 IfinitsuseofCapitalGranttheAcademyTrustdoesnotcomplywiththis Agreement or any of the conditions specified by the Secretary of State, or the project does not accord with the original specification or has not been completed, the Secretary of State may at his discretion not make any further
33827/20/111114100221.docx VN 2 111114 10-04-00
22