Grant Management Policy

Purpose

This policy sets out how Towerblock Radio CIC manages grant funding from application through to delivery, reporting and closure.

Scope

This policy applies to all grant funding received from any source, including National Lottery Community Fund, Arts Council England, Youth Music, Heritage Lottery Fund, local authorities, trusts and foundations.

Definitions

• Grant means a sum of money awarded for a specified purpose.
• Restricted funds means grant money that must be used only for the purpose specified by the funder.
• Match funding means funding that Towerblock Radio CIC must contribute alongside the grant.

Responsibilities

The board approves all grant applications. The Finance Lead manages grant finances. The project lead delivers and reports on the project.

Policy Statement

Towerblock Radio CIC manages grant funding with integrity, transparency and accountability. Grants are used only for agreed purposes, reported accurately and on time, and managed in compliance with all funder terms.

Detailed Procedures

Application stage

• All grant applications must be approved by the board before submission.
• The application must identify the project lead, budget, timeline, outcomes and reporting requirements.
• Match funding sources must be identified before application.

Acceptance

• Grant offers must be reviewed by the Finance Lead and board before acceptance.
• The grant agreement must be signed by an authorised signatory.

Financial management

• Grant income must be recorded separately and tracked against the agreed budget.
• Restricted funds must not be used for any purpose other than that specified by the funder.
• Any proposed variation to the budget must be approved by the funder in writing.

Delivery

• The project lead is responsible for delivering on time and within budget.
• Progress must be monitored against milestones and outcomes.
• Any significant changes must be reported to the funder.

Reporting

• Reports must be submitted to the funder by agreed deadlines.
• Reports must include accurate financial information and progress against outcomes.
• The board receives a grant progress report at each meeting.

Closure

• A final report and financial reconciliation must be submitted to the funder.
• Any unspent funds must be returned unless otherwise agreed.
• Project records shall be retained for at least six years.

Reporting Process

The board receives a grants update at each meeting.

Compliance Requirements

• Grant agreement terms and conditions.
• Community Interest Company Regulations 2005.
• Companies Act 2006.
• Funder-specific requirements.

Monitoring

The Finance Lead monitors grant income and expenditure monthly.

Review Cycle

This policy shall be reviewed annually and whenever a new significant grant is accepted.

Version Number

Version 1.0

Approval Section

Approved by: Towerblock Radio CIC Board Date: July 2026 Next review: July 2027

Related Policies

• Grant Acceptance Policy
• Restricted Funds Policy
• Finance Controls Policy
• Reserves Policy

Website URL slug

/policies/grant-management-policy

Meta Title

Grant Management Policy | Towerblock Radio

Meta Description

Towerblock Radio CIC's grant management policy covering application, acceptance, financial management, delivery, reporting and closure of grants from National Lottery, Arts Council and other funders.

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Governance

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grant management, National Lottery, Arts Council, Youth Music, Heritage Lottery Fund, restricted funds