The life cycle of funding arrangements
Spending public money wisely and well: how to put basic principles into practice.
At each stage of the life cycle of a funding arrangement, a public entity needs to think about what the principles require for that type of arrangement in that particular context.
The life cycle of funding arrangements is discussed in our good practice guides on nongovernment organisations, procurement, and partnership arrangements, as well as in the Treasury non-government organisation guidelines. In summary, a life cycle approach requires the public entity to think about the different stages that the arrangement will go through. We summarise these as:
- planning for the funding arrangement;
- selecting a provider and agreeing the terms;
- managing and monitoring the arrangement; and
- reviewing, evaluating, and starting over (where appropriate).