Advisory Board: Finance and investment

To ensure there is strategic alignment between the Combined Authority’s vision and commitments, and its financial programmes, to ensure greatest positive impact for the North East.

To make recommendations to Cabinet on investment decisions on funding programmes operated by the North East MSA above £5m unless the programme has already received Cabinet approval.

To make recommendations to the Chief Executive or the Delegated Officer on subsequent investment decisions on funding programmes operated by the North East MSA where Cabinet has expressly authorised that officer to take those decisions on its behalf (as set out in the original Cabinet decision).

Play a key part in the overall assurance arrangements of the Combined Authority through delivery of its functions.

Assess investment proposals against strategic fit with North East MSA’s Investment Framework ensuring golden thread.

Scrutinise the technical review of applications and project appraisals to provide assurance around value for money, due diligence, transparency and equity.

To receive on a quarterly basis the Investment Programme Performance Pack and ensure oversight of performance and management of strategic risk at a programme level, making recommendations to the Mayor and/or Portfolio Holder and/or Delegated Officer as appropriate.

As appropriate, act as a sounding board to provide strategic advice and guidance to North East MSA on the development of external bids for additional funding, where North East MSA will be the accountable body.

To make recommendations to the Chief Executive on investment decisions between £1m and £5m.

In accordance with the Single Assurance Framework, consider new funding applications and project variations and make recommendations to the Mayor and/or Cabinet, or delegated officer, on investment decisions.