Agenda item

The Performance Committee will receive a presentation on this item and be asked to input into the development of the Plan.

Kathryn Molloy, Head of Service, LEP Coordination, Lancashire County Council gave a report and presentation (circulated) which introduced a framework for the LEP Business and Operational plan.

It was reported that the LEP had agreed to produce an updated Strategic Economic Plan in early 2017, and that it is considered timely and complementary that the LEP produces its first operational business planning document.

Kathryn explained that the document would be twofold, acting as both an externally facing summary of the LEP’s strategic focus, performance, achievement and challenges and an annually refreshed internal operational business planning document, with a focus on LEP income and financial sustainability; key priorities for action and investment; governance structure and executive capacity issues; and the positioning of the LEP itself.

It was noted that a draft Business and Operational Plan will be submitted to the next LEP Board scheduled for 8^th November 2016 for consideration and approval. At the next meeting of the LEP Performance Committee meeting scheduled for 22^nd November 2016, further work on a detailed operational business plan will be undertaken which will be presented to the LEP board in the New Year.

The Performance Committee agreed with the proposed three-year timeframe for the Business Plan and agreed Operational Plan will cover a 12 month period. The Business Plan would include KPIs against which the LEP would monitor the impact of its activities.

Committee Members sought clarity on LEP delivery targets with regards to the key programmes. It was explained that 31 out of 39 Growth Funding agreements were ahead of target and that they have until 2021 to be completed. It was noted that there has been strength shown in the LEP’s current position and that the role of the Performance Committee now is to assist with the development of the Business and Operational Plan to ensure the LEP continues to deliver at a high level.

It was commented that the GIC (greatest imaginable challenge) would be a good performance indicator and discussions were had regarding how the performance could be captured.

It was agreed that the SEP would be refreshed with a set of economic outcomes to be captured.

Committee Members commented that it was important that what the LEP does and what it wants to achieve is captured in the Business and Operational Plan and that the plan shows where the LEP aims to be in the future. It was also emphasised that growth will benefit parts of Lancashire that are deprived and that this needs to be articulated in the correct way to explain this.

The Committee noted the differences between political and economic interests, and, that European funding is aimed at supporting deprived areas. Committee Members agreed that the Business and Operational Plan should make reference to the LEP having to work within Government rules and regulations in relation to some funding and investment resources.

The Committee discussed whether the Business and Operational plan needed to include reference to environmental climate and it was agreed this would be better placed in the SEP Policy document.

It was noted that progress, delivery, what the LEP has achieved and secured needs to be included in the plan and that a key area for investment would be to get the increase marketing of the LEP. It was noted that the Performance Committee will have a key role in monitoring delivery of the Plan.

In addition it was reported that the LEP may seek to become an independent sustainable body and that this will be reviewed over the coming months. It was highlighted that there is funding for the LEP in place from Lancashire County Council for the next two years and the LEP needs to plan ahead beyond this period.

Andy Walker, Head of Service – Business Growth, Lancashire County Council suggested that the Business and Operation Plan include Key Performance Indicators and that the Plan be built around this style. The Committee endorsed this approach.

Resolved:

1)  That the committee noted, considered and approved the format and content of the Business and Operational Plan including the proposed structure and approval / monitoring process; and;

2)  Agreed to utilise the 22^nd November 2016 LEP Performance Committee meeting to develop the operational business planning document, with consideration given to LEP income streams and priorities for action and investment in the coming year.