Decision details

Officer Delegated Decision: Reallocation of Unspent UKSPF

Decision Maker: Executive Director Place

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

All UK Shared Prosperity Fund projects were awarded funding according to anticipated funds required for delivery at the time the project proposals were drawn up. As projects have reached delivery stage, some have stalled or been scaled back needing less funding than initially envisaged and others are in delivery but with costs rising above levels initially anticipated.

 

As the end of the financial year approaches there is a need to reallocate unspent funds to projects able to utilise the funds by end March 2025 to avoid underspend which would have to be returned to UK government with no benefit to the local area, allowing the opportunity to provide more funding for projects which have faced rising costs.

Decision:

To approve the reallocation of unspent UKSPF between projects to enable funds to be spent by 31 March 2025 and avoid unspent funds being returned to UK government and not utilised to support local priorities.

Publication date: 15/01/2025

Date of decision: 15/01/2025

Effective from: 23/01/2025

Accompanying Documents: