Agenda item

Report of the Chief Grants Officer.

The Committee considered a report of the Chief Grants Officer regarding the third round of Stepping Stones, which had recently concluded, and provided an update on past and current investees. Members noted there was merit in maintaining the programme, and agreed a business case be prepared to ensure the correct resource be allocated to support a fourth round of the programme. In response to Members’ questions, officers advised that funding to the Mayor’s Programme was to support a separate strand of work to the decision earlier in the meeting, and although banks had experienced difficult trading recently, UBS was still very positive about supporting Stepping Stones.

RESOLVED –

a)    That £500,000 be approved in principle for a fourth round of Stepping Stones subject to confirmation by officers at the City Bridge Trust Committee meeting in January 2017 as to whether this comes from the 2016-17 or 2017-18 grants budget;

b)    That a business case be produced to ensure that the correct resource is in place for programme administration and evaluation for the new round;

c)    That officers seek match funding from partner organisations towards this fourth round;

d)    That the Risk Finance strand of Stepping Stones be discontinued; and

e)    Subject to a full proposal to January 2017 meeting, that the Trust trial a new invitation-only strand for Stepping Stones which provides bespoke assistance.