The Funding Committee of Cambridgeshire and Peterborough Combined Authority met on Monday 22 June 2026 to review its terms of reference, approve a significant business case for skills capital funding, and receive updates on project progress. Key decisions included the unanimous approval of revised terms of reference for the committee and the recommendation to the Combined Authority Board for the approval of the £15.14 million Skills Capital Programme.

Review of Terms of Reference

The committee reviewed proposed amendments to its Terms of Reference, which aim to align with the Combined Authority's Corporate Plan 2025-29 and the new Single Assurance Framework (SAF). The proposed changes adjust the financial thresholds for project approvals, with officers at a lower level now able to approve projects up to £500,000, and the committee's remit for approvals over £500,000 and up to £5 million. Concept papers, previously approved by officers, will now require committee or board approval. Councillor Mohammed Jamil, Cabinet Member for INATS and Gilders for Peterborough City Council, questioned whether these changes would slow down processes, but officers explained that the SAF aims to focus on the gravity of matters and that the committee meets monthly, allowing for continued pace. Councillor Karen Young, on Cambridge City Council, noted that while the committee might have more control over what gets done, it might have less control over finances. The committee unanimously agreed to recommend the revised Terms of Reference to the Combined Authority Board for acceptance and incorporation into the Combined Authority's Constitution.

Single Assurance Framework Business Case Approvals: Officer Decisions

The committee noted a series of officer decisions made under delegated authority since the last meeting. These included approvals for new projects such as the £137,907 FE Teacher Industry Exchange Programme, aimed at supporting construction industry employees, and the £225,000 Changing Futures programme, which supports individuals facing multiple disadvantages. A £556,347 allocation for the National Cycle Network School Neighbourhoods project, focused on co-designing local streets around schools to improve active travel, was also noted. Several change requests for existing projects, including reprofiling of funds and time extensions for the UK Shared Prosperity Fund and Active Travel Fund, were also approved by officers.

Skills Capital Programme Business Case Approval

A significant decision was made regarding the Skills Capital Programme, with a business case totalling £15,143,069 presented for approval. This Department for Education-funded programme aims to expand post-16 education capacity across Cambridgeshire and Peterborough, responding to demographic growth and increasing demand for construction skills. The programme will invest in capital projects to reconfigure or refurbish existing spaces, provide temporary additional capacity, or in exceptional cases, deliver new builds. Councillor Ian Bovingdon raised concerns about the sufficiency of revenue funding and the accessibility of new facilities for young people, particularly those from disadvantaged backgrounds. Caroline Fairhurst, Former Employment Project Manager, explained that residual funding from the FE Cold Spots programme provided some flexibility for revenue support. Councillor Bridget Smith expressed disappointment that the FE Cold Spots budget was not fully spent, but it was clarified that the underspend was due to a specific project's inability to secure premises. The committee recommended to the Combined Authority Board the approval of the business case, with the understanding that individual projects will return for approval as part of the programme. The recommendation was carried unanimously.

Project Progress Report

Nathan Quante presented the Project Progress Report, which included updates on the Strategic Projects Dashboard and the wider CPCA portfolio. The Strategic Projects Dashboard showed six amber-rated projects and six green-rated projects, with no red-rated projects. The wider portfolio of 38 in-delivery projects had two red-rated projects: the £100m Affordable Housing Programme, nearing completion but with a few properties delayed, and the Nature and Environment Investment Fund, which is experiencing delays due to the complexity of its loan-based funding scheme and market headwinds. Councillor Steve Count inquired about the complexity of the Nature and Environment Investment Fund's scheme, and Adrian Powell explained it was due to its innovative loan approach and reticence from landowners. Councillor Lucy Nethsingha raised concerns about the bus franchising programme, which remained amber-rated due to significant risks and uncertainties. Nathan Quante explained that the amber rating reflected the high-risk nature of such large strategic projects, but that more certainty on delivery would be needed to move it to green. The committee noted the report.

Work Programme and Next Meeting

The committee noted its Work Programme and confirmed the date of the next meeting as Monday, 7 September 2026.