All funding must be spent in line with the approved application and fully accounted for through the acquittal process, through the provision of receipts for all expenditure.
Sometimes a project comes in under budget and there are unspent funds. If these unspent funds total $100 or less, this amount must still be reported in the acquittal, however, does not need to be returned to the Trust. Any underspend must be clearly explained, and all funds must have been used in accordance with the eligibility criteria and the purpose outlined in the original application. If your unspent funding comes to over $100, please follow the appropriate steps as listed on the acquittal form for return.
For example, if your charity is approved for $12,500 to purchase ingredients for food parcels for vulnerable residents, but upon completion of the program your submitted receipts total $12,450 in eligible expenses, the $50 underspend is not required to be returned to the Trust. However, receipts must be provided for the full $12,450 expended.
If an acquittal does not sufficiently demonstrate how the funds were spent or expenditure is outside of the supported application, the charity may be required to return any unacquitted funds to the Trust.