Decision details

To consider the latest revenue budget outturn report for 2021/22.

The Joint Committee RESOLVED to:

1)     Note the Revised Analysis of LEP External Grants as at the end of February 2022.

2)     Note the LEP revenue outturn as set out in Appendix 1.

3)     Approve the Full Business Case for the acquisition of property in Milsom Quarter, Bath for the Fashion Museum and the award of funding in line with the Red Book valuation and able to be accommodated within the headroom in the Revolving Infrastructure Fund programme.

4)     Approve the change requests for schemes in the Local Growth and Getting Building Fund programme as set out in Appendix 2.

5)     Approve the change requests for schemes in the Economic Development and Revolving Infrastructure Fund programmes as set out in Appendix 3.

The West of England Combined Authority acts as the Accountable Body for a range of funding streams on behalf of the West of England Councils and LEP. The Combined Authority Financial Regulations require that it regularly reports on the financial monitoring position of these funds.

Value for Money and appropriate use of resources are constantly considered when allocating, monitoring and managing all revenue and capital budgets