Income
Local Govt
Central Govt
Business
Total
Grant
£150,000
£150,000
Capacity Fund
£26,500
£26,500
Core Funding
£250,000
£250,000
Offices
£10,000
£10,000
Facilities and Services
£10,000
£10,000
Events
£10,000
£10,000
Secondment
£10,000
£10,000
Sponsorship
£100,000
£100,000
Sub Total
£150,000
£276,500
£140,000
£566,500
Expenditure
Payroll and Expenses
£130,000
£90,000
£10,000
£230,000
Offices
£20,000
£20,000
Facilities and Services
£20,000
£10,000
£30,000
Conference and Events
£10,000
£10,000
£40,000
£60,000
Communications
£5,000
£35,000
£55,000
£95,000
Project Funding
£5,000
£100,000
£105,000
Training
£5,000
£5,000
£10,000
Other
£16,500
£16,500
Sub Total
£150,000
£276,500
£140,000
£566,500
Funding and Resources
Worcestershire Local Enterprise Partnership - Outline Budget
1
st
September 2012 - 31
st
August 2013
The LEP ‘secretariat’ team is a small and agile unit with its primary
purpose to support the LEP Board, Business Board and key sub groups.
It has Government provided funding for its own operation and a small
amount to pump prime the delivery of projects. The LEP remains a proactive
facilitator, negotiator, influencer and broker of solutions. In doing so,
it will work with and therefore ‘employ’ the resources provided by a
range of public, business and third sector organisations including social
enterprises, whether in financial or manpower and services assigned.
The Government has announced that core funding will be available to LEPs
which will be linked to key criteria and total up to £250,000 across financial years
2013/14
and 2014/15. Agreement has been reached with the local government
family in Worcestershire for annual financial support totalling £150,000 from
the 1st September 2012 and subject to performance, for a further two years
thereafter. In addition the LEP has access to £26, 500 per annum from the
Government’s Capacity Fund, it also has limited access to elements of the
Growing Places Fund. Finally the LEP has been and continues to be generously
supported by several key businesses across the County who provide office
and meeting space, together with the support of other services.
The following table summarises the LEP budget for the year
1
st September 2012 to 31st August 2013.
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