Welsh Government have published their Code of Practice which outlines 5 principles of how the third sector is funded.

The 'Code of Practice for funding the third sector' specifies the 5 key principles by which the third sector is funded and provides guidance on how to apply them.

The principles and guidance set out are for third sector organisations, Welsh Government funding departments and other public sector funding bodies supporting the third sector.

The 5 key principles are:

Early and continuous dialogue

Valuing and outcomes

Appropriate funding mechanism

Equity

Flexibility

The Code has been co-produced with the third sector and public sector (through the Third Sector Partnership Council) to ensure it is useful, relevant and up to date. It forms part of the statutory Third Sector Scheme and will be reviewed on an annual basis. 

The aim of introducing the Code and its principles is to

improve public services in Wales through the development of equal partnerships with third sector stakeholders.

encourage consistency in the approach of public bodies funding the third sector. 

encourage the development of better funding relationships to ensure the most effective use of public funds.

Click here to find out more and download the Code of Practice