The UKSPF is the Government’s major
economic development fund to replace EU Structural and Investment
Funds. It is a largely revenue fund aiming to boost productivity.
The MCA submitted its Investment Plan to Government in August 2022
following approval by the Board in July 2022.
In November 2022 the MCA board gave delegated authority to the MCA
Chief Executive and s73 officer to enter into funding agreements in
accordance with the UKSPF submitted Investment Plan, local delivery
plans and any conditions agreed with Government.
Following UKSPF 2023/24 year-end reporting and reconciliation of
financial claims, there is an underspend of £1.5m.
Recommendation is reprofile any underspend on individual projects
in 2024/25 activity.
The associated projects are contracted for two years, beginning in
April 2023 and concluding in March 2025, and funding already
approved by Gareth Sutton. Towards the end of 23/24 projects were
encouraged to maximise in year activity to achieve the DLUHC spend
target, with flexibility given by DLUHC to profile delivery across
23/24 and 24/25 to enable this.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 04/07/2024
Decision due: 3 Jul 2024 by Section 73 Officer
Contact: Laurie Thomas, Director of Programme Delivery Email: laurie.thomas@southyorkshire-ca.gov.uk.