Funding news

Further reductions to the total value of Futurebuilders revealed - 16 February 2010

Last week the OTS confirmed that fees paid to the two organisations that have administered the fund had cut the amount available from £215m to £154.7m.

After the fund closed for applications last month, the Office of the Third Sector admitted that £31.3m had been returned to the Treasury unspent.

Now, fees for running the Futurebuilders programme from 2004 to 2011 will be £29m, or 16 per cent of its total value, according to figures released last week, cutting the amount available to £154.7m.

Ministers have consistently described Futurebuilders, used for loans and grants to help voluntary organisations win public service contracts, as a £215m fund. The shadow charities minister, Nick Hurd, described the situation as the government short-changing the sector. However, a Cabinet Office spokesman said it was normal to include administrative costs in investment figures.

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