Watch our webinar - UK Shared Prosperity Fund – Preparing For Delivery - held on Tuesday 4th October.
Watch again
The right local investments can generate social impact and inclusive growth that improve lives, reduce inequality and deprivation, and ultimately lead to higher productivity and better outcomes for everyone. Choosing where to invest and how to successfully deliver those investments has to be a priority for every Council and Combined Authority in the country.
We won’t know the outcome of the current Levelling Up Fund bidding round for a couple of months as it is a competitive process. However, the UK Shared Prosperity Fund (UKSPF) process is not competitive, so it is likely that each Council or Mayoral Combined Authority will be awarded the indicative UKSPF funding for which they submitted an investment plan at the start of August.
Councils will have committed to spending specified amounts during 2022-23 within their UKSPF Investment Plans. So whatever way you look at it - it’s time to start preparing to deliver.
You will also have noted that some councils and MCAs with rural areas have been offered additional money from a new Rural England Prosperity Fund. This will follow a similar process to the UKSPF. Our free webinar will provide advice to councils who are looking to get ahead of the game.
The session covered:
Transforming your Investment Plan from high level ideas into implementable plans
Getting the right resources in place
Identify procurement routes and developing the required documents; undertaking soft market testing or supplier events etc.
Prepare to implement your strategic and operational governance structures
Establish the necessary financial, risk management and quality controls
Designing services that will be funded through revenue funding
Seeking member approval for capital spend through business cases
Establish monitoring and evaluation arrangements
