Decision details

The Committee received a report (circulated) setting out the final outturn position for the LEP’s operational Budget for 2016/17 and the revised Operational Budget for 2017/18. It was noted that the LEP Board had approved the Operational Budget at its meeting on the 29 June 17.

Included was a balance statement of the LEP’s Growing Places Investment Fund as at 31 March 2017 and it was agreed that this would be presented at each future meeting of the Performance Committee.

It was noted that in January 2017 a draft 2017/18 Operational Budget was approved by the Board. It was commented that subsequently a small number of additional items of activity and related expenditure were included and some areas of expenditure being reduced in the 2017/18 Operational Budget. Kathryn Molloy talked the Committee through the additional items of activity and explained where areas of expenditure had been reduced as set out in the report.

It was reported that a match funding contribution of £250,000 from the County Council had been secured in 2017/18 and that future years match funding contributions are subject to discussions with the County Council.

The Committee were informed that Jake Berry MP and Margot James MP, on behalf of Government, had written to the LEP Chairs over the summer advising them that a review will be taking place in the coming months into the future of the LEP’s to explore ways of putting LEP’s on a more consistent footing legally whilst still giving LEP’s the freedom and flexibility to attract private sector talent to their Boards. It was noted that they would be expecting more information on this matter in the coming weeks.

Kathryn informed the committee that the posts funded by LCC don’t charge until the end of the year and that the two additional posts have been included in the budget but not yet recruited.

The Committee discussed where the Luneside East scheme was up to and were informed that a strategic plan for this project was expected by December and once this was received officers would provide the Performance Committee with an update.

It was noted that the SEP and the reports that officers have produced have been really helpful and clear and thanked officers for all their work on this.

Resolved:

  i.  That the contents of the report including the LEP’s financial outturn position for 2016/17 be noted.

  ii.  That the Operational Budget for 2017/18 be noted;

  iii.  That the spend to date in 2017/18 be noted;

  iv.  That the balance statement for the LEP’s Growing Places Investment Fund be noted;

  v.  That the balance statement for Growing Places Investment Fund be presented at each future meeting of the Performance Committee; and

  vi.  That a further update on the Luneside East Growing Places Investment fund scheme be provided to the LEP Performance Committee Members when the Strategic Plan is received in December 2017.