The Net Proceeds Committee is made up of the 5 Directors listed here and they will consider each application using the following criteria:
- Cut-off for all applications is the 15th day of every month (not if the 15th falls on a weekend then close off is the Friday prior).
- To be considered an application needs to have had the following completed:
- At the cut-off date, all correct, completed applications will be put forward for consideration at the appropriate funding meeting.
- Please check the Grants Portal regularly from the end of the month (except July, when there is usually no meeting due to financial year end) to track the progress of your Request, as you will be required to accept our Funding Offer (if approved) within a given timeframe (a minimum of two days).
- You can expect to receive an outcome by month end.
- Payment is usually processed within a week of the Funding Offer being accepted.
- There is usually no meeting in July.
The following criteria are considered by the Net Proceeds Committee:
- The application must meet One Foundation’s Authorised Purpose.
- The amount applied for must be available from net proceeds that are available for distribution at the time the application is made.
- The application, if approved, must benefit the community.
- Where it is apparent that an applicant has received funding from another source for the same purpose, the applicant must repay any portion of the funding that exceeds the total amount required for the stated purpose.
- Grants cannot be retrospective (i.e. to reimburse funds already spent).
- Grants must not be made on a promissory basis.
- One Foundation shall take reasonable steps to ensure that grants are used for the purpose stated by the recipient in the application. Receipts must be submitted to prove that the funds were utilised for the purpose stated on the application. The Net Proceeds Committee may decline applications for Organisations that have overdue Accountability Reports outstanding.
- Applications that would provide pecuniary benefits to its principal officers, employees, gaming machine service contractors, representatives or associated person will not be considered.
- Repeat applications that have met and followed the One Foundation rules and guidelines on being granted net proceeds may be considered provided all other criteria have been met.