As your area draws close to the end of its Big Local funding here is a checklist of our requirements to help your Partnership prepare.
|Our requirements||Examples of questions to consider|
|We expect you to have wound down according to your own policies.||Are roles and responsibilities between the Partnership and LTO clear for your next stage – whether closing down or continuing – in line with your agreement? |
If the partnership will not continue:
How will this agreement be reviewed and closed?
If the Partnership is continuing:
Are the current policies and agreements fit for future purpose?
Do you have a workable plan for further funding?
Is there any support that you’ll need, either to arrange for yourselves or ask from Local Trust?
|We expect you to have wound down under the financial procedures agreed with your LTO.||Have you for example, closed the Partnerships bank account and finalised on petty cash? |
How will the LTO keep financial records of how the Partnership spent the grant for a period of seven years?
|We expect you to have made sure that all your final Big Local expenditure includes VAT.|
|We expect the final spend report to have been completed by the LTO accounting for remaining funds.||Has the Partnership agreed their final expenditure? |
Has any underspend been returned with the 5%?
|We expect the LTO (and the Partnership where relevant) to have closed local contracts, agreements and activities reliant on Big Local funding.|
|We expect the employing organisation to have made provision for terminating employment contracts and legal obligations to staff.||This should include for example, final pay roll and benefits, redundancy, pension requirements. Has the organisation responsible for any contracts made provision under the termination clauses of those contracts?|
|We expect you to be clear on who owns each asset when the programme closes, and to have ensured that each owner has a charitable purpose.||Have you made an inventory of assets, and decided what will happen to each of these going forward? |
Where will minor equipment be housed, who will manage it and what will happen to the proceeds if sold?
|We expect you to have complied with GDPR requirements|