Expired Contract Funds Policy

Auckland Challenge Values Position

Auckland Challenge is committed to ensuring that all funds received from National contracts are utilised appropriately for the benefit of Award participants. This policy provides a clear framework for the distribution of remaining funds at the end of National contracts.

Policy Purpose

The purpose of this policy is to ensure that any unspent funds from National contracts are used effectively and efficiently to further the goals of Auckland Challenge in providing the Award.

Policy Rationale

National contracts are typically completed within a specific time period. However, Auckland Challenge continues to work with participants until they complete their Award or withdraw from the programme. It is possible for funds to remain unspent at the end of a National contract, either due to programme budgeting or participant archival. This policy provides clear guidance on how to allocate any remaining funds.

End of Contract Procedure

At the end of a National contract, Auckland Challenge will provide participants with a two-month period to complete their Awards, and will notify participants of the contract’s conclusion date. During this two-month period, participants under the initial contract will indicate their interest in continuing with the Award. Participants who do not express interest will have their allocated funds removed from the remaining funds. Participants who express interest will receive continued support from Auckland Challenge.

Fund Distribution

Once any unspent funds have been removed from the contract, Auckland Challenge management may: transfer remaining funds to a subsidy account, from which funds can be allocated to support Auckland Challenge members when necessary; transfer remaining funds to the Auckland Challenge Salary account to support the ongoing work of providing the Award; or distribute remaining funds in a ratio of 60% subsidy and 40% salary. If there are no participants interested in continuing with the Award, remaining funds will be allocated towards general operating expenses such as marketing and promotion, equipment, and staff/volunteer training.

Reporting and Monitoring

Auckland Challenge management will monitor the distribution of funds allocated to the subsidy and salary accounts and report on this quarterly to the Auckland Challenge Board.

Amendments

This policy may be amended by the Auckland Challenge Board as necessary. Proposed amendments must be presented to the Board for review and approval.