5.1.3 Allocation of public funds
There is no law governing the allocation of public funds and provision is made at the discretion of the government.
When an application for public funds is made by private individuals or companies, the following criteria are used in the evaluation:
- duration of the activity;
- recognition of the cultural activity;
- the influence of the event or association; and
- the advantages for the public and the Principality of such a cultural initiative.
When a grant is made by the government, the beneficiary must open its accounts for inspection by the General Auditor of Expenditure (Act N° 885 of 29th May 1970 relating to financial audits of private organisations awarded state subsidies).
Chapter published: 01-10-2014