Decision details

The Committee gave consideration to a report providing an update on Round 7 (2025/26) of the Council’s Strategic Events and Festivals Fund (SEF) and details of the applications submitted and the applications recommended to receive funding.  The report also sought agreement to allocate a minimum of £90,000 funding to allow for a SEF Round 8 in 2026/27.

Decision

The Policy and Resources Committee–

1.    agreed to the award of eligible SEF Round 7 grants amounting to £106,036 as detailed in Table 1 of the report;

2.    agreed that any SEF Round 7 grant offer be formally issued upon confirmation from the event organisation that the event is confirmed as going ahead, match funding is in place and the event still meets the SEF Round 7 criteria;

3.    agreed to continue delegation of powers to the Executive Director with responsibility for Development and Economic Growth to allow any subsequent amendment to existing grant requests due to changes to the event/event budget. Any amendment to a current grant request/offer would only be considered if the amendment related to either the same level or a reduction in the request and constitute up to 75% of legitimate and eligible expenditure. Similarly, if there was a reduction in the final event costs that would result in delivery of a profit more than £10,000 (all of which must be reinvested to future events) to the organisation and that this was sustained over a 3-year period, the final retention (10%) would not be paid out on the third year of the grant;

4.    agreed to recommend to Council that as part of the budget in February 2025, that they agree a minimum of £90,000 base funding for Strategic Events and Festivals in order that the application process can commence for Round 8 (2026/27); and

5.    agreed and recommended to Council that any underspend from SEF Round 6 (2024/25) was earmarked and used to augment a future SEF round.

(Reference: Report by Executive Director with responsibility for Development and Economic Growth dated 6 December 2024, submitted)