THE ECONOMIC DEVELOPMENT GRANTS POLICY REVIEW (Referred from Planning and Environment Committee dated 8 August 2023 - Item 5.3) · Attachment 5 Guidelines - Economic Development Grant Program

                                                               Economic Development Grant Guidelines




Project Budget

It is important to provide a balanced, realistic and complete project budget with your application.
Written Quotes may be requested for any budget items over $1,000 as follows:
   •   Between $1,000 and $7,499 one (1) written quotation is required
   •   Over $7,500 three (3) written quotations are required
   •   All amounts recorded in your budget and application are to be GST exclusive
   •   The budget must balance; that is total income relating to this project must equal total
       expenditure on this project
   •   Include the Supplier’s name (if known) in the description of expenditure items
   •   In-kind support/volunteer hours are valued at no more than $44.43 per hour. The basis of this
       calculation is taken from the biannual Australian Bureau of Statistics (ABS) average weekly
       earnings figures for Australia.

Goods and Services Tax (GST)
   •   The grant amount requested must not include GST.
   •   The quotes provided may include GST but the actual figures recorded in the budget must
       have
   •   had GST deducted.
   •   If the applicant (or auspice organisation) is registered for GST then Council will add GST to
       the
   •   grant when it is paid.
   •   If the applicant (or auspice organisation) is not registered for GST then Council will not add
       GST to
   •   the grant when it is paid.
   •   For more information on GST refer to this GST page of Australian Taxation Office’s website.

Notification

The outcome of the grant application will be notified within 30 days and applicants will be notified by
email.


Successful applicants

Successful applicants will be emailed an approval letter and a Deed of Funding Agreement. The
Agreement will include terms and conditions of the grant, any special conditions that have been
attached to your grant and GST information.

Please complete, sign, and return the Deed of Funding Agreement prior to funding being released.

If the applicant is being auspiced, the Deed of Funding Agreement will be signed by, and payment will
be made to the auspice organisation. Successful applicants are given instructions about the Deed of
Funding Agreement obligations and invoicing Council for the grant payment as part of the approval
letter. Refer to the Valid Invoice Check List.

Successful applicants have 12 months from the time of the notification of your success to complete the
project and acquit the grant, unless otherwise negotiated.




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