Decision details

Jo Ainsworth, LEP and Special Projects Finance Manager, presented a report which provided a Growth Deal Finance Summary including an update on the financial aspects of the Local Growth Fund.

Within the report, an update on the allocation of the Local Growth Fund Monies, the payments made in the three full years to 31 March 2018, and the risk of slippage to the 2018-19 – 2020-21 profile were noted.

Resolved: The Growth Deal Management Board:

(i)  Noted the spend to date, together with spend to be made in future years.

(ii)  Noted the forecast of funding to be balanced to the funding available as set out in the report.

(iii)  Considered the continued profiling of funding forecasts, requested that they continue to be made as accurate as possible, with the Committee managing existing projects in order to recoup any slippage and ensure new projects remain on track in line with their spend profile.