Funding Basics

• Identify the funds and the 'heads of expenditure' required (budgeting)
• Justify the need for the expenditure
• Comply with internal approval procedures
• Secure external funds
• Manage funds - Meet funding partners' terms and conditions and comply with reporting requirements (accountability)
• Be prepared for audit.

There are four distinct elements to consider:

• Developing a funding strategy;
• The timscales involved and your partnership's or project's need for funds;
• Complying with the conditions attached to a funding contribution;
• The relevant procedures requried by different external funding sources;

Funding procedures

• establish clear responsibilities for all funding arrangements
• establish clear lines for routine communication & financial reporting;
• recognise that different organisations allocate or award funds in different ways;
• be aware of the need to be fully accountable for all financial aspects of your project/partnerhsip.

Funding sources

Identifying and securing external funding is a major partnership activity, requiring both time and expertise.

Increasingly it is fundamental in determining whether a partnership or project succeeds

(SNH Projects and Partnerships Group)