HISTORIC PRESS RELEASE : Cross Cutting Review – A Guidance to Funders [September 2003]

The press release issued by HM Treasury on 8 September 2003.

In order to make it easier for funders of the voluntary and community sector to understand the implications of Government accounting rules the Treasury today published ‘Guidance to Funders’.

The guidance is a direct response to recommendations of the 2002 Cross Cutting Review of the Role of the Voluntary and Community Sector in Service Delivery. It makes a significant contribution to the Government’s commitment to creating a framework in which the voluntary and community sector can flourish, be strong and independent.

The Rt Hon Paul Boateng MP, Chief Secretary to the Treasury, said:

“If we are to reap the rewards of the voluntary and community sector’s role in service delivery, we must improve the funding relationship between Government and the sector.  This guidance to funders is designed to make it clearer and therefore easier for funding bodies to distribute money to the voluntary and community sector. I am very pleased that today’s announcement means we have now fully responded to all our commitments under the Cross-Cutting Review within one year of its publication.”

The cross cutting review identified the need for clear and consistent guidance around funding relationships between the voluntary and community sector and the government.  The Guidance to Funders document clarifies what practices are and are not allowed under Government Accounting standards.