Issue - meetings

LEP Funded Capital Programme Financial Statement - Confirmed Spend for 2021/22 and Forecast for 2022/23

Meeting: 29/11/2022 - Lead Member for Strategic Management and Economic Development (Item 5)

5 SELEP Funded Capital Programme Financial Statement - Confirmed Spend for 2021/22 and Forecast for 2022/23 pdf icon PDF 138 KB

Report by the Director of Communities, Economy and Transport

Additional documents:

Minutes:

5.1       The Leader and Lead Member considered a report by the Director of Communities, Economy and Transport.

 

5.2       It was noted that the titles for the following appendices to the report should read as follows:

 

·         Appendix 1 should read: Appendix 1: 2021/22 LGF Programme: Final Spend and Mitigation

·         Appendix 3 should read: Appendix 3: 2022/23 LGF Programme: Proposed Spend Profile

 

DECISIONS

 

5.3       The Leader and Lead Member RESOLVED to:

 

(1) Note the final 2021/22 spend for the Local Growth Fund programme and the amount of funds re-profiled into the East Sussex County Council Capital Programme;

 

(2) Note the final 2021/22 spend for the Getting Building Fund programme and the amount of funds re-profiled into the East Sussex County Council Capital Programme;

 

(3) Note the final 2021/22 spend for the Growing Places Fund programme and the amount of funds re-profiled into the East Sussex County Council Capital Programme;

 

(4) Agree the confirmed scheme spend profiles for the Local Growth Fund programme for the 2022/23 financial year;

 

(5) Agree the confirmed scheme spend profiles for the Getting Building Fund programme for the 2022/23 financial year; and

 

(6) Agree the confirmed scheme spend profiles for the Growing Places Fund programme for the 2022/23 financial year.

 

REASONS

 

5.4       Taking into consideration the ongoing impact of Covid on the delivery of capital infrastructure programmes, East Sussex have continued to be successful in delivering over £60m of funding across the Local Growth Fund, Getting Building Fund and Growing Places Fund projects by the close of 2021/22.

 

5.5       The proposed spend profile for the 2022/23 and 2023/24 financial years across the ten Local Growth Fund projects takes into account the mitigation options outlined in paragraph 1.6 of the report and will allow the schemes detailed in Appendix 2 of the report to progress.

 

5.6       Following a decision at the July 2021 SELEP Accountability Board to allow projects to continue past this deadline providing that they met criteria outlined by the board and a further decision at the February 2022 SELEP Accountability Board to transfer any outstanding GBF grant held by Essex County Council to local partner accountable bodies by the end of the 21/22 financial year, East Sussex County Council were transferred the remaining £1.005m. The proposed spend profile is outlined in Appendix 8 of the report and will allow for the schemes detailed in Appendix 9 of the report to progress.

 

5.7       Over the first three funding rounds, East Sussex benefitted from over £23.5m of GPF which has been invested in eight projects in the county. The proposed drawdown and repayment schedule is outlined in Appendix 5 of the report and will allow the schemes detailed in Appendix 6 of the report to progress.

 

5.8       The allocated budgets for the individual projects in the 2022/23 GBF programme include the use of the funds that were offset against the East Sussex County Council capital programme under capital swap mitigation option available in the SELEP Accountability and Assurance Framework.