In order to manage the NLTF effectively, it is essential that we clearly understand our cashflow requirements for the remainder of this NLTP and the funding demand for existing commitments flowing into the next NLTP.
Following the 2022/23 end of year roll over in TIO, it is an opportune time for Councils to review their balances in TIO and process cashflow adjustments to ensure the amounts in TIO accurately reflect when you expect expenditure to occur. This is essential information to help us manage the NLTF effectively and for forward planning for the 24-27 NLTP. An accurate picture of the demands on the NLTF helps us to manage avialable funding and to allocate investment to achieve the best possible outcomes.
We therefore request that you:
Review the remaining funding balances in TIO for 2023/24 and the outyears and request any cashflow adjustments by 31 August 2023. This should link into your processes for updating the September Programme Monitor report.
On an ongoing basis, please advise our Local Government partnership team as soon as practical of any material Price Level Adjustments (PLAs) that you intend to request and submit these in TIO as soon as practical.
Please note that we are initiating a review of the reliability of current forecast information. This will help us to identify measures or process changes that might be needed to optimise the use of the NLTF and help ensure that we are delivering best value for money in the way in which the fund is invested.
