The LLEP Board, and its supporting governance structure, (where there are appropriate schemes of delegation), is the strategic body responsible for taking decisions on LLEP business and LLEP programme activity. The Accountable Body, however, is responsible for overseeing the proper administration of financial affairs within the LLEP when these affairs relate to public funds. Leicester City Council is the accountable body for LLEP.
There are three key areas for the Accountable Body:-
A finance function: involving holding public funds paid by Government on behalf of the LLEP;
An oversight function: ensuring public funds are handled in line with the relevant procedures and grant conditions and that funds are used with propriety, regularity and deliver value for money. This includes an oversight function of processes such as LLEP governance and transparency arrangements, compliance with the Framework and agreement on scrutiny arrangements, to ensure that the checks and reporting requirements of the Section 151 Officer are met; this includes retaining appropriate documentation on decisions around funding. The Accountable Body is also responsible for escalating concerns around non-delivery and/or mis-management, if this cannot be resolved at the local level.
A support function: providing technical advice on the relevant law discussing risks associated with pursuing a particular course of action for the LLEP Board to consider, drafting funding agreements and contracts) if the LLEP Board chooses to proceed. The Accountable Body may have a role in managing risks on behalf of the LEP.
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