Howlin announces new requirements for Grant Funding
Issued 6 October 2014
Brendan Howlin, TD, Minister for Public Expenditure and Reform, has announced new and updated requirements for the management of grant funding provided from public money. The requirements, issued in the form of a Department of Public Expenditure and Reform Circular, focus on transparency, accountability and value for money.
The document outlines the financial management principles, procedures, and additional reporting requirements to be followed in the management of grant funding. These requirements apply to all grant funding originating from the Exchequer, regardless of the method of distribution.
As well as outlining the responsibilities of those issuing and receiving grants, the Circular includes a new ‘Statement of Principles’ for grantees, outlining four principles which apply to those in receipt of grant funding- clarity, fairness, governance and value for money.
Significantly, Grantees will now be required to report in their Financial Statements details of employee salaries and pensions, including the number of employees, whose total benefits for the reporting period exceed €60,000. This will apply even where salaries are not funded by the Exchequer.
Speaking after the publication of the Circular, Minister Howlin said, “I am proud to announce these new requirements. My Department was specifically founded in order to drive the significant, strategic and sustainable reform of the Irish Public Service which is essential in order that we continue to deliver and improve services to our citizens. These measures further bolster the openness and accountability required around the disbursement of public monies.”