COUNCIL chiefs have approved a fund to protect school building projects in Warwickshire from cost rises.
Warwickshire County Council’s Cabinet say it will prevent the cost of school building projects rising by allowing schemes to start earlier.
The new Education Capital Development Fund contains £1.4million, which will provide funding for schemes to progress prior to full approval from Cabinet.
Council chiefs say this will mean there will be greater certainty around initial costs, deadlines will not compromised and there will be sufficient accommodation for pupils within specified timescales.
The ECDF money will pay for school building schemes to progress for concept design, the co-ordination of architectural and engineering information and costing exercises. This would not otherwise be available until schemes had gone through Cabinet for approval and added to the Schools Capital Programme.
WCC’s finance spokesperson Coun Peter Butlin 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.”
Source: Rugby Observer