№ files_lp_4_process_3_062020
Summary of WLEP financial position and forecasts for 2019/20, detailing Growth Deal and Local Growth Fund allocations, revenue budget status, and reserve balances, including project-specific funding commitments and risks.
Year: 2019/20
Region: Worcestershire, United Kingdom
Theme: Economic Development and Local Growth Funding
Document Type: Board Report
Organization: Worcestershire Local Enterprise Partnership (WLEP)
Author: Christopher Bird, Finance Manager – Transformation and Development Finance
Target Audience: WLEP Board Members
Funding Sources: Growth Deal 1/2/3, Local Growth Fund, Growing Places Fund
Total Funding Allocation: £71.725m
Revenue Budget: £662k
WLEP Reserve Opening Balance: £183k
Forecast Closing Balance: £183k
Purpose: Report on financial position of WLEP revenue and growth funds, including forecast outturns and current status of projects
Risk Factors: Inflationary pressures, potential non-receipt of DCLG capacity funding, project delivery constraints
Projects Covered: Bromsgrove A38, Pershore Northern Link Improvements, Churchfields, HoW Duckworth Centre of Engineering
Funding Status: Full utilisation of Local Growth Fund in 2019/20, Growing Places Fund partially committed
Price: 8 / 10 USD
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