Decision details
Marches Growth Deal Update
Decision Maker: Marches Enterprise Joint Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To notify the Committee of progress in the delivery of Growth Deal 1 & 2 funded
projects; spend against 2016/17 Local Growth Funds (LGF) profile; and ongoing work
to bring forward expenditure on current Growth Deal schemes to ensure the LEP
spends its full 2016/17 LGF allocation.
2 To seek Committee approval for the temporary virement of LGF funding between
approved LGF1 projects being delivered in order to achieve full LGF spend allocated for
projects in 2016/17.
Decision:
THAT the Joint Committee:
a) Note the update and support the LEP Director in:
i. the request made to all project sponsors to bring forward
expenditure on their Growth Deal projects
ii. working to maximise growth deal 2016/17 expenditure and minimise
underspend and potential loss of LGF to the LEP Programme; and
b) Agree the principle of virements and vire LGF1 grant between approved LGF1 projects being delivered (principally from Telford Growth Point to Telford Eastern Gateway Project).
Reasons for the decision:
To ensure that Growth Deal projects continue to make progress and that Local Growth Funds allocated for 2016/17 are not lost to the Growth Deal Programme.
Alternative options considered:
If provisions are not put in place to deal with underspends, funding may be lost to the
programme.
Reason Key: Expenditure;
Publication date: 14/12/2016
Date of decision: 12/12/2016
Effective from: 21/12/2016
Accompanying Documents: