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The ChangeUp Investment Programme guidance issued to Government Offices, requires that the management (including delegated functions) and investment of funds are required to adhere to the following principles:
Probity: The investment is public money and Government will need to demonstrate that decisions are made in a manner that is impartial and robust. Distribution arrangements will need to be independent and not captured by any particular organisation or group of organisations.
Transparency: fund distribution must operate in a transparent way with decision-making processes which are suitable for public scrutiny and challenge
Compact compliance: arrangements will need to be compliant with the Compact and in particular the requirements set out in its Funding Code
Accessibility: In making decisions about how funds will be spent, fund managers will need to demonstrate the steps it has taken to ensure that opportunities reach all the relevant potential providers.
Efficiency: The costs of distributing funds and holding recipients to account for delivering the desired results should be within the usual range for grant making organisations (3-9%). In the main projects should be commissioned. Experience has shown that bidding rounds waste scarce resources from both the sector and government as well as creating unmanageable expectations from the sector.
