Rural England Prosperity Fund

8.Financial and approval requirements

You must meet the following minimum requirements for procurement of the items or works that make up your project:

Value / Price

Minimum procedure  

Up to £10,000

Single quotation - Direct award based on a written quotation or evidence of current market price from relevant suppliers of such goods, works and/or services.  

£10k-£30k

Two written quotations from relevant suppliers of such goods, works and/or services  

More than £30k

Three written quotations from relevant suppliers of such goods, works and/or services  

Approval must be granted before expenditure is incurred; you will not be paid for any expenditure incurred before the date of the Grant Offer letter. 

You are expected to check that contractors for works have suitable insurance in place.

You must hold Third-Party Public Liability Insurance, and Employers’ Liability Insurance, if applicable. A current safeguarding policy and child protection will be required if your project will involve children or vulnerable adults.

You are responsible for arranging all relevant consents, permissions, exemptions and written advice needed. You will not be paid for any work undertaken without all the necessary consents and permissions being in place. 

You will be paid retrospectively and to your business bank account only; we will not make direct payments to your contractors or suppliers. You must pay for the items in full. You can then submit a grant claim form to us with supporting information for processing. 

We will require you to complete a quarterly monitoring report containing output and outcome information for your project.

All your project expenditure must be auditable.

If your business is registered for VAT, you cannot claim the VAT element of any expenditure in your REPF grant claim. If your business is not VAT registered, you are entitled to claim against the gross cost. We may ask for evidence to support your VAT status. 

If successful, you must promote that your project was part-funded by the UK Government via TVBC (eg via your website, literature and on-site signage for infrastructure projects).