Issue - meetings

Report providing an update to the Business Board on the progress made in delivering the UK Shared Prosperity Fund (UKSPF) Programme and the Rural England Prosperity Fund (REPF) Programme.

It was resolved to:

A    Note the updates contained within this report

The Business Board received the report which provided an update to the Business Board on the progress made in delivering the UK Shared Prosperity Fund (UKSPF) Programme and the Rural England Prosperity Fund (REPF) Programme.

A new announcement confirmed the need to spend the current allocation for the third year, with additional claims of £200k for UKSPF and £100k for REPF. Confirmation on fourth-year funding is awaited.

Officers emphasised the importance of demonstrating robust financial management and scaling interventions effectively. It was noted that many small projects are resource-intensive and the suggestion is focusing on larger, more impactful projects. Members questioned whether project presentations were overly optimistic, to which officers responded that many projects have external dependencies, complicating management.

Concerns were raised about aligning spending with intended outcomes and the resource burden of managing these funds. Officers highlighted the need for evaluating variations and ensuring they align with the Combined Authority's goals. They reflected on lessons learned, noting that the Combined Authority is now better positioned to deliver more consolidated and focused projects, considering the limited administrative funding provided by the government.

The Board resolved to note the updates provided in the report.

It was resolved to:

Note the updates contained within this report