Common use of Funding Allocation Clause in Contracts

Funding Allocation. 7.1 In consideration of the partial funding of the services shown above, THE COMMISSIONERS shall pay Successful Service Provider the sum of £XX per annum. The sum thus agreed (“the funding”) will be paid by way of quarterly payments in advance via cheque or BACS system. 7.2 The only adjustments that may be made to the amount given in 7.1 would be as a result of any agreements made between THE COMMISSIONERS and Successful Service Provider following any changes made because of an amendment to the specified service (set out in the attached Service Specification appendix) or changes to the funding available. 7.3 THE COMMISSIONERS funding shall be construed as being sufficient to fund those core services referred to in this agreement. 7.4 THE COMMISSIONERS may withdraw or reduce the funding at any time and for any reason and will follow the requirements of the Gloucestershire Compact which are mirrored in the procedures set out below (7.5-7.7) when making reductions of the allocated funding or withdrawal of the allocated funding. 7.5 THE COMMISSIONERS will give Successful Service Provider clear reasons for the withdrawal or reduction of the funding in writing. 7.6 Where the funding is reduced or withdrawn a minimum of six months written notice will be given by THE COMMISSIONERS to Successful Service Provider. Any costs incurred by Successful Service Provider as a result of the withdrawal or reduction of the payment are to be met from the final six-month payment. Typically, this would include the cost of reducing or winding up services, carrying out redundancies, meeting holiday entitlements of staff made redundant. 7.7 If Successful Service Provider should cease to operate or go into receivership or administration then subject to Charities and Insolvency Law and when other liabilities have been met, any outstanding balances from the funding is to be repaid. Any goods purchased with the funding should be returned to THE COMMISSIONERS. 7.8 All payments to be made under this agreement from THE COMMISSIONERS to Successful Service Provider are exclusive of VAT as the benefit is to a third party and not to THE COMMISSIONERS. 7.9 Where Successful Service Provider gains a surplus of income from grants, fundraising or other sources in any one year, THE COMMISSIONERS will not seek repayment of any part of the funding. Successful Service Provider will maintain a level of reserves appropriate to meet its financial responsibilities. 7.10 Successful Service Provider shall acknowledge THE COMMISSIONERS’s financial support in any literature and publicity materials. 7.11 Successful Service Provider must not support a political party nor use the funding to pay for publicity, which is for or against any political party.

Funding Allocation. 7.1 In consideration of the partial funding of the services shown above, THE COMMISSIONERS COMMISSIONER shall pay Successful Service Provider the sum of £XX per annum. The sum thus agreed (“the funding”) will be paid by way of quarterly payments in advance via cheque or BACS system.system on submission of invoices from the Successful Service Provider 7.2 The only adjustments that may be made to the amount given in 7.1 would be as a result of any agreements made between THE COMMISSIONERS COMMISSIONER and Successful Service Provider following any changes made because of an amendment to the specified service (set out in the attached Service Specification appendix) or changes to the funding available. 7.3 THE COMMISSIONERS COMMISSIONER funding shall be construed as being sufficient to fund those core services referred to in this agreement. 7.4 THE COMMISSIONERS COMMISSIONER may withdraw or reduce the funding at any time and for any reason and will follow the requirements of the Gloucestershire Compact which are mirrored in the procedures set out below (7.5-7.7) when making reductions of the allocated funding or withdrawal of the allocated funding. 7.5 THE COMMISSIONERS COMMISSIONER will give Successful Service Provider clear reasons for the withdrawal or reduction of the funding in writing. 7.6 Where the funding is reduced or withdrawn a minimum of six months written notice will be given by THE COMMISSIONERS COMMISSIONER to Successful Service Provider. Any costs incurred by Successful Service Provider as a result of the withdrawal or reduction of the payment are to be met from the final six-month payment. Typically, this would include the cost of reducing or winding up services, carrying out redundancies, meeting holiday entitlements of staff made redundant. 7.7 If Successful Service Provider should cease to operate or go into receivership or administration then subject to Charities and Insolvency Law and when other liabilities have been met, any outstanding balances from the funding is to be repaid. Any goods or equipment purchased with the funding should be returned to THE COMMISSIONERSCOMMISSIONER. 7.8 All payments to be made under this agreement from THE COMMISSIONERS COMMISSIONER to Successful Service Provider are exclusive of VAT as the benefit is to a third party and not to THE COMMISSIONERSCOMMISSIONER. 7.9 Where Successful Service Provider gains a surplus of income from grants, fundraising or other sources in any one year, THE COMMISSIONERS COMMISSIONER will not seek repayment of any part of the funding. Successful Service Provider will maintain a level of reserves appropriate to meet its financial responsibilities. 7.10 Successful Service Provider shall acknowledge THE COMMISSIONERS’s COMMISSIONERS financial support in any literature and publicity materials. 7.11 Successful Service Provider must not support a political party nor use the funding to pay for publicity, which is for or against any political party.