Funding news

Financial Relationships with third sector organisations - Wednesday 31 May 2006

New guidance for third sector funders has been published by the Treasury in an attempt to clarify pressing issues for charities, including full cost recovery.

The document, Improving financial relationships with the third sector: guidance for funders and purchasers, revises earlier guidelines published in September 2003. It aims to help government departments, non-departmental public bodies and other funding organisations distributing public money to the charity and voluntary sector.

It also offers advice on the timing of payments, stability in funding and reducing bureaucracy, setting out principles which are consistent with the Compact.

Meanwhile the National Audit Office has released a web-based tool to guide funders and purchasers through a structured series of decisions about the design of funding programmes, ensuring programmes achieve their objectives while also complying with the Compact funding and procurement code.

Read this article at: http://www.charitytimes.com/frames/pages/all-of-me.htm

Visit the National Audit Office web-based tool: http://www.nao.org.uk/better%5Ffunding/