The Infinity Foundation willfully adopt its obligations under the Gambling Act to ensure the transparent and legitimate funding of authorised purposes.
Section 12 of the Gambling (Class 4 Net Proceeds) Regulations 2004, stipulates that the Infinity Foundation must recover a grant or any portion of a grant, by whatever means necessary, where;
All grants funded by Infinity Foundation are audited to ensure they were used for the approved purpose.
Infinity Foundation requires a signed copy of the audit form, copies of the relevant invoices and bank statements proving payment.
We require the signed audit form, bank statements showing net pay (including a breakdown if required), IR345s and IR348s showing PAYE and bank statements showing the PAYE as paid.
No, however the money must be used for the same purpose approved in the grant.
Any unspent funds must be refunded.
No, not if the original grant approval did not include the other items. In these instances the unspent funds must be refunded and a new application completed for any other items.
A refund is required where inadequate documentation is provided; funds have been used for unapproved purposes e.g. items not requested at time of application; payments are retrospective; or where another trust has paid for the same purpose.
Retrospective payments are any payments made prior to our grant approval date. Retrospective payments are not eligible for grant funding.
Grants should be spent within three months from the date of receipt of funds. In certain circumstances by request, your audit date can be extended, however this must be done prior to the three month window expiring.
You will be sent an email reminding you of your legal obligation at the end of the three month period. In the event that the audit requirements are not met within a reasonable timeframe a full refund will be requested. Failure to comply with the audit requirements will result in all future applications being declined and the outstanding debt may be forwarded to a Debt Collection Agency.