Purpose

To approve entering into the agreement for
2025-2026 spend for the UK Shared Prosperity Fund, underwriting
spend in advance of receipt of agreement and payment of grants for
local delivery.

Content

That the Cabinet Member for Resources and the
Cabinet Member for City Development, Jobs and Skills, in
consultation with the Executive Director of Economy, Director of
Finance and the Monitoring Officer:
 

Approved the acceptance of the grant
allocation for the year four extension of the UK Shared Prosperity
Fund that will now form part of the Integrated Settlement for the
region.

 

Approved the establishment of
required supplementary revenue budgets of up to £2.2 million
and capital budgets of up to £1.3 million in line with the
funding allocation. Allocations are set out in section 2.3 of this
report.

 

Approved payment of grants as
required for delivery of activity. Further details are set out in
section 2.5 of this report.

 

Approved acceptance of grant
allocation for Youth Trailblazer funding for 2025-2026.

 

Approved the establishment of
required supplementary revenue budget of £435,000 in line
with the funding agreement.