C0039 Funding Formula Review

Description

The overall objective is to update the budget funding formula to make it more intentional in our aspiration to reduce inequalities, considering weighting towards underrepresented groups. The new formula must incorporate equity-led measures to better reflect the needs of communities. The aims of this consultancy project are that the Fund will better understand: • The options for shaping our approach to distributing National Lottery money using the latest data and evidence. • How our Budget Funding Formula can be better aligned to our policy directions and new funding strategy. • How we can consider the full spectrum of need. • How we can fairly and equitably share our awards budget between and within the five portfolios (four UK nations and UK Portfolio).