Arts Council of Wales (ACW) has opened a consultation into the way it allocates its funding to arts organisations.
Known as The Investment Review, ACW has traditionally reviewed its funding process every five years. This review was originally scheduled for 2020 but was postponed by the pandemic.
The funder is proposing a simplified application process and a move away from funding a portfolio of companies towards a mix of multi-year revenue and project funding agreements. It is also suggesting three-year funding arrangements, rather than the existing five years, with the option of an additional three years based on performance.
The new funding model would sit alongside ACW’s other programmes that are funded by The National Lottery.
ACW says it is “seeking as many views on the new proposals as possible”. Eight online consultations will be take place on Zoom through August and September, with booking available on the funder’s website. An online survey is already open and email responses are welcomed.
The consultation period runs until 10 October, with final details of the new process expected to be released on 21 November.
Funding applications will then open in January 2023, with decisions delivered in September 2023 ahead of the release of funds beginning in April 2024.