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Decision details

Investment Board - 4 June 2018

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Decision:

(1)       The minutes of the meeting held on 4 June were noted.

 

(2)       The reduction of £8.3m in relation to Investment Programme commitments made by West Midlands Combined Authority was noted.

 

(2)       The out-turn against the Investment Programme for 2017/18 was noted.

 

(3)       The previous decision to exclude Sandwell Metropolitan Borough Council from the Collective Investment Fund was revoked following WMCA acquiring the necessary borrowing powers.

 

(4)       The value of the Collective Investment Fund was increased from £60m to £70m following WMCA acquiring the necessary borrowing powers.

 

(5)       The principle of applying the Investment Programme Assurance Framework to Investment Programme schemes only was agreed.

 

(6)       The Investment Programme-related revenue expenditure for 2017/18 was noted.

Publication date: 20/07/2018

Date of decision: 20/07/2018

Decided at meeting: 20/07/2018 - WMCA Board

Accompanying Documents: