Agenda item

Report of the Chamberlain.

The Committee considered a report of the Chamberlain providing the schedules of projects and activities which have received funding from the Policy Initiatives Fund (PIF) and the Policy and Resources Committee’s Contingency Fund for 2025/26 and future years with details of expenditure in 2025/26.

RESOLVED: That Members: -

• Noted the report and contents of the schedules.
• Approved the 2024/25 unallocated balances on your Committee’s PIF and Contingency Funds as well as Departments request for unspent allocations to be carried forward into 2025/26. Noting a further part in the process was set out in paragraph 16.
• Whilst the overall 2025/26 PIF uncommitted balance currently stands at £1,557,106, the amount available for multiyear bids was over by £39,100, as shown in Paragraph 17. The available balance for 2025/26 Committee Contingency was £429,692.
• Agreed to increase the 2025/26 multiyear PIF cap by £39,100 from the 2025/26 Committee Contingency for the Proposal for Development of a City Business Investment Unit (CBIU) bid of £221,100 for both 2025/26 and 2026/27 as approved in February 2025’s Committee.  At this time, the 2025/26 uncommitted multiyear bid was only £182,000.