What’s new in the Arts and Cultural Investment Framework?

29 Sep 2014

Mark Fenton, Chair of the Arts Investment Advisory Board, explains what has changed in the revised Arts and Cultural Investment Framework which sets out why government invests in the arts, investment principles, what is invested in, how investments are made and how outcomes are evaluated and shared.

This revised version of the framework was developed based on a review of the transitional framework which preceded it for the 2013-14 period. Since the 2013-14 framework was released in June last year there have been some important strategic developments, not least of which was the launch of the Arts for all Queenslanders strategy 2014-2018. The framework has been revised to align with this strategy, in particular to contribute to the priority of achieving artistic, cultural, social and economic returns on investment.

So what has changed between the 2013-14 framework and this revised version? Here is a brief snapshot of the differences you will find:

• The principles of investment have been reworked and now apply across all of Arts Queensland’s investment, rather than only to the competitive funds as in the previous iteration. The six principles are: return driven, managed risk, customers first, diversity, local and transparency and accountability. You can read more about them in the framework document.

• The core of the framework – ‘what we invest in and how’ – has been reorganised according to scale of investment, recognising the Queensland Government needs to invest at a range of scales to support a sustainable sector. This means investment programs are presented under four main categories: large, medium, medium to small and small scale investments.

• The framework document now provides a more comprehensive overview of the range of ways Arts Queensland invests in arts and culture, bringing in initiatives such as the Fresh Ground program at the Judith Wright Centre of Contemporary Arts, rental subsidies for tenants in government-owned buildings and awards and fellowships.

• As announced by the Minister, the Arts Business Innovation Fund will be administered by a consortium of private companies to provide financial products such as cash grants and recoverable loans that meet the diverse business needs of the sector. 

• From February 2015, the Individuals Fund will be devolved to an external body to manage. The new approach will help cut red tape and improve efficiency in administering small amounts of money through the fund. The September 2014 round of the fund will proceed in its current format as previously announced.

• From March 2015, the Projects and Programs Fund will transition to a rolling fund rather than being administered through funding rounds. This is in response to feedback from people in the sector that a rolling fund improves timeliness and responsiveness to emerging opportunities.

• The Playing Queensland Fund has been expanded to include visual arts touring as well as performing arts.

The framework will continue to be reviewed and updated as required.

I encourage you to read through the document to get a more complete picture of what the framework now looks like. You can read it online or download it here. The Arts Investment Advisory Board looks forward to seeing more great ideas for Queensland arts and culture realised under this revised framework.

Mr Fenton is the Executive Manager, Finance Transformation, at RACQ and has broad experience in financial management.

Mr Fenton was Chair of the Board of John Paul College Ltd, from 2004 to May 2013. He was also Director of the Queensland Ballet Company from 2003 until 2012, including six years as Deputy Chair.

Mr Fenton holds a Company Directors Course Diploma; a Master of Business Administration; Bachelor of Business (Accounting) and an Associate Diploma in Business (Accounting). He is a fellow of CPA Australia (FCPA) and a Graduate Member of the Australian Institute of Company Directors (GAICD).