Policy paper

Canal and River Trust: amendments to the grant agreement with Defra

Changes to adjust the timing, calculation and administration of the Canal and River Trust grant agreement with Defra.

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The following changes have been made to the grant agreement:

administrative changes were needed to add it to Defra’s electronic grant processing system, and bring it into line with mandatory government wide grant management standards. This includes bank details and signatories to any future changes
updates the trust’s formal address
grant payment scheduling has been adjusted to be on the ‘earliest’ rather than ‘first’ pay run, so that all the necessary processing falls within a financial year. This is to bring it into line with standard government accounting practices
the COVID-19 pandemic caused the measure of indexation used within the grant mechanism to turn negative which would have resulted in a reduction of the grant in 2021 to 2022. This outcome was not foreseen in the original grant agreement. Grant calculations have been adjusted to mitigate the impact for 2021 to 2022. In line with the original grant agreement, the amount paid in 2021 to 2022 will be the maximum amount paid for the remaining years of the grant agreement which ends in March 2027

Published 30 May 2022