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Care Leaver Social Impact Bond – DfE Innovations fund award and next steps
Meeting: 03/04/2018 - Cabinet (Item 10.)
10. Care Leaver Social Impact Bond – DfE Innovations fund award and next steps PDF 102 KB
Additional documents:
- Appendix A1 - summary of proposal, item 10. PDF 68 KB
- Appendix A2 - Copy of Final Rate Card, item 10. PDF 280 KB
- Appendix A3 - Governance structure, item 10. PDF 151 KB
- Appendix A4 - summary project plan, item 10. PDF 60 KB
- Appendix E - EqIA Full Form, item 10. PDF 130 KB
Decision:
Cabinet:
1. Accepted the Innovations fund award and agreed to enter into grant agreement with the DfE in relation to the funding.
2. Agreed to establish a partnership agreement between the Bristol, South Gloucestershire, North Somerset and Bath and North East Somerset councils, including sharing the administration and legal costs of establishing and running the social impact bond.
3. Establish the partnership arrangements outlined in the report with or on behalf of the three participating local authorities with the SPV, including the terms by which outcome payments will be made to the SPV in line with the published rate card to deliver the proposal to support an increased proportion of care leavers into education, employment and training.
4. Agreed to BCC resources in line with its share of the legal and administration costs of the partnership agreement and outcomes payment mechanism, including any requirement for independent audit.
5. Delegated authority to the Director of Children and Families Services to enter into the agreements detailed in recommendations 1 to 4 and any others required to give effect to the proposal contained in this report of delivering a social impact bond focussed on supporting care leavers across those local authorities into education, training and employment.