Jargon Buster
- Asset – a piece of land or a building which has a value
- Brown field site – a piece of land that has been used to build on – even if the building has since been demolished.
- Capital costs – the costs of pieces of equipment or a building. These costs differ from running costs as they are one-off pieces of expenditure and, in return for the expense, the organisation has an asset – a piece of equipment, or a building.
- CDM Co-ordinator (Construction Design Management Co-ordinator) – a person who takes on the role of checking health and safety considerations of each aspect of a building’s design. Your architect or surveyor might take on this role, it does not have to be someone new.
- Competitive tendering – a process whereby a number of prospective services provide a tender document detailing the costs and nature of the service they will offer. The purchaser can review each tender document and make a decision on which service to buy.
- County Sports Partnership - is a partnership of agencies committed to providing a high quality single system for people to benefit from sport within that area. County Sports Partnerships bring sport into the community – aiming to increase participation in sport and physical activity (see LINKS page).
- Freehold – referring to the ownership of a property or piece of land
- Green field site – a piece of land that has not been used to build on. It could be a field or piece of parkland, for example.
- Incorporation – registration of an organisation as a company
- Leasehold – an agreement with the freeholder to take over a piece of land or a building for an agreed period of time. This does not impact on the freeholder’s long-term ownership of the asset.
- PSO – Public Sector Organisation – such as the local council, health authority or local school
- Quirk - In 2007 Barry Quirk, Lewisham Council's Chief Executive, published a report commissioned by Government – entitled ‘Making Assets Work’. It found that community organisations can realise tremendous potential by taking on the management and ownership of community assets.
- Running costs – the on-going costs of running a project, a facility or an organisation. This will include costs such as salaries, rates, insurance, utility bills, but will not include purchasing most equipment or building work which are known as capital.
- Schedule of Accommodation – a detailed breakdown of all the rooms / areas required in a building.
- Third Sector – all voluntary and community groups, plus faith and values-driven groups and social enterprises.
- VCO – voluntary or community organisation – including charities, not-for-profit organisations, community groups, tenants’ associations, social enterprises and faith-based groups. The important distinction is that VCOs do not make profits for distribution to the public or corporate sector (ie shareholders).