Page 10 - Skills and Talent Programme

Swansea Bay City Deal
8
2. Project Costs
2a. Include here the amount of funding being sought from the Skills and Talent
programme and the match funding amounts. Provide a full financial breakdown
of the funding package for the project in Annex A.
Co-financing or Match funding is a key requirement of the programme to support
the project costs. Match funding can be “actual” this will involve the contribution of
actual cash towards the total cost of the project or “in-kind” this will involve the
contribution by an individual or organisation of a service or product to the project
free of charge. It is important to note all in - kind costs must be eligible, actual,
evidenced, and essential to the delivery of the project. Some examples of in-kind
match funding may include.
• Staff time
• Overheads or any indirect costs needed to deliver the project at a maximum of 15%.
• The use or donation of equipment or resources required to deliver the project.
Applicants will be required to identify
• is the match funding an actual cash or in kind contribution towards the cost of the project?
• what is the nature of the match funding and how does it relate to the project cost.
• what is the source of the match funding? (detailed information will be required on
exactly what match funding is being included within the funding bid).
If the project relies on match funding and it is not secured, explain when it is expected
to be secured and what the impact would be if it is not secured.
This form asks you to confirm that match funding is in place. Match funding must be
confirmed prior to the issuing of any Funding Agreement.
Annex D of the application form should be completed by each organisation providing
match funding to the lead applicant. Each organisation should complete a separate
copy, filling in the relevant sections, and inserting a signature.