The financial directions issued to Sport England to ensure that the lottery funds it distributes are properly managed and controlled.
This Statement of Financial Requirements is effective from 17 May 2004
The Department for Culture, Media and Sport sets the policy and financial framework within which the distributing bodies for National Lottery grants operate. The Secretary of State for Culture, Media and Sport issues policy and financial directions to the English and UK-wide lottery distributing bodies, apart from the Big Lottery Fund. The Minister for the Cabinet Office issues policy directions to the Big Lottery Fund.
The policy directions set the framework within which the distributing bodies operate. These include considerations relating to:
- who can receive funding
- what the funding can used for
- the conditions the distribution body must meet
The financial directions relate to financial propriety and efficiency. They are designed to secure the proper management and control by a distributing body of the lottery funds available to it.