New $33m Social Impact Funding in Victoria

As we foreshadowed in our recent newsletter to you, the Victorian Dept of Treasury & Finance is now underway with its Partnerships Addressing Disadvantage (PAD) funding program. The PAD program was announced in this year's State Budget. A few key points:

• There is up to $33 million in funding;
• It is outcomes-based - that means that service organisations will be funded on the basis of longer-term outcomes achieved, not on inputs, outputs or program activities;
• The policy area of focus is on those who have had interactions with the justice and the homelessness systems; 
• The funding is designed for intensive, wrap-around/integrated services for complex cohorts of service users, typically for multiple years of support.

PADs are highly-technical in many respects and so we encourage you to respond to DTF's 'Statement of Intent' process as detailed below.

As you consider your own programs, have a look at 5 elements that are key to social impact bonds.
You may also be interested in an article about what you need to be successful in developing a social impact bond.

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