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TS-BGS-17 Trust & Stewardship Board Governance & Strategy CORE Compliance v2.9.7

Value-for-Money (VfM) framework and public reporting

This criterion assesses whether the organization measures, analyzes, and publicly reports on its value-for-money metrics. Value-for-money (VfM) metrics demonstrate how efficiently and effectively the organization uses its resources to achieve outcomes, encompassing economy, efficiency, effectiveness, and equity (the 4Es). In line with Trustees’ duty to report on public benefit (Charities Act 2011), the essential trustee duty to manage resources responsibly (CC3), and the Islamic principle of Amānah (stewardship), VfM reporting should evidence prudent use of entrusted funds to maximise outcomes fairly and transparently.

Compliance 1
  • Ethical safeguards: VfM pursuit must not compromise safeguarding, quality, inclusivity or long-term outcomes; include equity-weighting and a ‘do-no-harm’ check
    Ethics Important
Good 10
  • Defined VfM framework based on the 4Es (Economy, Efficiency, Effectiveness, Equity) with explicit definitions, safeguards, and trade-off rules
    Documentation Important
  • Regular measurement and analysis of VfM indicators covering at least 90% of total spend where feasible
    Process Important
  • Minimum VfM publication pack: 1-page dashboard, methodology note, reconciliation to SoFA, variance commentary, and equity/safeguarding statements
    Documentation Important
  • Board review of VfM metrics at least twice per year
    Governance Important
  • VfM assurance protocol: minimum checks on data/methods, reconciliation to accounts, and triggers for independent review
    Quality Important
  • Timely and accessible publication: VfM narrative and metrics published in the Trustees’ Annual Report and on the website within 6 months of year-end
    Documentation Important
  • For grant-makers: VfM reporting must cover grant administration and available grantee outcome data, with a plan to improve data access
    Process Important
  • Reconciliation note linking VfM spend tables to the Statement of Financial Activities (SoFA)
    Transparency High
  • Case studies demonstrating VfM achievements
    Transparency Medium
  • Transparent explanation of methodology
    Transparency High
Better 10
  • Benchmarking hierarchy: Comparison against direct peers, sector datasets, fundraising benchmarks, or internal 3-5 year trends
    Performance Important
  • Integration with strategic planning and decision-making
    Process Important
  • Continuous improvement based on VfM analysis (Muḥāsabah)
    Quality Important
  • Comprehensive VfM dashboard with trend analysis
    Technology High
  • Outcome-focused metrics beyond simple cost ratios
    Excellence High
  • Stakeholder involvement in defining VfM
    Stakeholder Engagement High
  • Integration with impact measurement
    Excellence High
  • Equity considerations in VfM analysis
    Innovation High
  • Beneficiary/user feedback integrated into VfM assessment
    Stakeholder Engagement High
  • Theory of change mapping to VfM metrics
    Planning High
Best 4
  • Independent validation of methodology
    Transparency High
  • Open data publication of non-sensitive VfM datasets (e.g., via IATI or CSV)
    Transparency High
  • Sensitivity/uncertainty analysis on key VfM ratios
    Analysis Medium
  • Cost-effectiveness (CEA), cost–benefit (CBA) or SROI triangulated with qualitative evidence
    Analysis High

Related Criteria

TS-BGS-01 Trustee board meetings are scheduled, quorate, and minuted TS-BGS-02 Trustees set direction & strategy TS-BGS-03 Trustees meet statutory reporting TS-BGS-04 Finance represented in decisions TS-BGS-05 Annual board and executive skills-gap analysis conducted and actioned
Version
2.9.7 2025-11-05

Discussion (1)

Administrator 2026-03-07 11:07:43.697238

📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json

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