The local authority said it received 112 applications for cash from the fund launched to help residents improve their local areas.
The Community Improvements Fund is a new fund to support community-based intiatives, which make a difference to the lives of local residents.
Bids were welcomed between £10,000 up to a maximum of £50,000. The funding is intended primarily to cover capital costs linked to community infrastructure projects.
Council leader David Hodge said he believed the local authority could help the county's communities come together so they could flourish.
The fund would "give local groups the chance to improve their areas, make a real difference to people's lives and strengthen the ability of residents to independently enhance where they live."
In certain circumstances, limited support of a one-off nature may also be available under this fund to assist in establishing or placing an initiative on a sustainable footing.
Such revenue requests would, however, be considered as part of the wider funding application submitted, said the local authority.
The fund was opened to bids from the start of January 2012, with decisions on the first successful applicants were made after 1 April 2012.
The deadline for applications to be submitted under a second round of bids closed on Friday 28 September. These bids will be considered by the fund panel on 5 November.
It is expected that priority will be given to applicants at a stage of being ready to proceed within the financial year of funding being granted.
Successful bids will be processed through the Community Partnerships Team, and will be required to provide evidence of spend and the outcomes and impacts of the project.