Arts Council increases funding for major arts organisations
01 October 2005, Australia
Australia Council for the Arts has announced a 2.3% funding increase for 145 organisations that currently recieve funding on a triennial basis. Executive director for Arts Development, Ben Strout, said: 'We can now increase our support each year. The vitality and viability of these companies is essential for the arts in Australia, yet they have struggled with slim operating margins. '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. Over time it will make a big difference to their bottom line,' he said. Organisations currently in a three-year funding agreement will benefit immediately from the changes. For organisations that will be starting a new three-year funding agreement with the Arts Council in 2006, including organisations representing Aboriginal and Torres Strait Islanders who were invited to make applications for triennial funding for the first time in 2005, payment of the increase will depend on their status at the start of the agreement. 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 Arts Council will review the budgetary impact of the new arrangement after three years. For further information, CLICK HERE.