Transparency of Funding Decisions

The work of Enterprise M3 is guided by our Strategic Economic Plan, “Working for a Smarter Future”, published in 2014. This sets out what is needed to realise our ambition to become “the premier location in the country for enterprise and economic growth, balanced with an excellent environment and quality of life”. Our funding programmes focus on improving the economy of our local area, and centres on improvements in transport; housing; skills; enterprise and innovation.

Enterprise M3 has processes and procedures in place to deliver our responsibilities in an open and transparent way.  These are documented in our Assurance Framework. Our accounts for the last three years are available on our website in our Annual Reports.

The Enterprise M3 Board draws upon the expertise of senior leaders from the public, private and not-for-profit sectors and all our Board Members’ time is given on a voluntary and unpaid basis.  Board Members are required to complete a declaration of interest and the completed forms are published on our website for each board member (https://www.enterprisem3.org.uk/the-board). Declarations of interest is a standard agenda item at all our Board Meetings. Where a decision is being taken the relevant Board Member will leave the room during the decision-making process and this is recorded in the meeting minutes.

All awarded funding is subject to an open advertisement and thorough independent due diligence. Decisions are made in accordance with the declarations of interest protocol detailed above.

Hampshire County Council is the accountable body for the work of the Enterprise M3 LEP and ensures that all expenditure is in accordance with all applicable legal requirements, including a requirement to act prudently in spending.  As the Accountable Body they also audit our accounts and processes.

For any queries about funding decisions by Enterprise M3, please contact our Communications team on 01962 845 533 or email communications@enterprisem3.org.uk