CFDG welcome much needed investment in capital projects

22nd July 2003

The Charity Finance Directors' Group has given a big welcome to the proposals for futurebuilders, and particularly the plans to devote 80% of funds to capital investment. CFDG believe that investment in efficiency and capital projects has for too long been under funded, and we are very pleased that futurebuilders will at last be attempting to tackle this area.

CFDG are keen to encourage the government to invest in the central infrastructure of organisations, or to help small organisations instigate collaborative working projects. If invested in projects such as these the fund will have a life far beyond its existence. CFDG are also supportive of the proposed Business Support Function and believe it could be used to encourage small charities to set up joint projects.

However CFDG sounded a note of caution by stating categorically that futurebuilders alone cannot make a huge impact on the objectives it sets out to achieve. Its impact will be much greater if other proposals put forward in the Cross Cutting Review are fully implemented, namely that of full cost recovery, and the effective use of the ACU's new infrastructure fund.

Shirley Scott, the Chief Executive of CFDG said, "For too long charities have subsidized the cost of investing in capital projects for improving public service delivery by using donated funds. We are pleased that we at last have a fund, in the shape of futurebuilders, that will actually address some of the infrastructural weaknesses in organisations. We are also encouraged by the idea that futurebuilders, with its diverse forms of finance and its pro-active business support function, might itself become an innovative and exemplary funding model. CFDG are pleased that the Treasury have made the most of the futurebuilders opportunity."


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