The Australia Council for the Arts is using its strategic funds to increase support for the 145 organisations it funds on a triennial basis.
To date, the Council has provided the same level of funding each year for three years, at which point a company’s funding was reassessed.
‘We can now increase our support each year,’ said Ben Strout, executive director of Arts Development.
‘The vitality and viability of these companies is essential for the arts in Australia, yet they have struggled with slim operating margins,’ he said.
‘The Council believes this decision will help to relieve the real budgetary pressures that arts organisations face, where costs continue to grow each year but there are few remaining opportunities to reduce them,’ said Mr Strout.
‘Over time it will make a big difference to their bottom line.’
The Council will increase by 2.3 per cent its support for organisations that are currently in a three-year funding agreement for the remainder of that agreement.
For organisations starting a new three-year funding agreement, in 2006:
- Where the Council is maintaining its level of support based on the organisation’s past funding agreement with the Council, the organisation will receive an increase of 2.3 per cent
- Where the Council is increasing its level of support compared to the organisation’s past funding agreement with the Council, this new amount includes the increased level of support available.
Funding levels will increase over three years, with the rate of increased support variable from year to year. The Council will review the impact of this arrangement on its budget after three years.