The Swansea Bay City Region Joint Committee approved the co-opted membership of Jan Williams, endorsed the Internal Audit Terms of Reference for 2024-25, and agreed the Joint Committee Forward Work Plan. The committee also received updates on the Skills & Talent Programme, financial monitoring reports, and the Swansea Bay City Deal quarterly monitoring.

Co-opted Membership

The Joint Committee approved the appointment of Jan Williams as the replacement co-opted member for Swansea Bay University Health Board.

Internal Audit Terms of Reference 2024-25

The committee approved the Internal Audit Terms of Reference for 2024-25. This document outlines the scope and approach for the annual internal audit review of the Swansea Bay City Deal, focusing on governance, project management, financial management, and risk management. The fieldwork is scheduled to begin in early 2025 and conclude by the end of March 2025.

Joint Committee Forward Work Plan

The Joint Committee reviewed and agreed its Forward Work Plan, which outlines planned activities for the Swansea Bay City Deal Portfolio over the next six to twelve months. This is a rolling document that will be updated regularly.

Skills & Talent Programme Update

Samantha Cutlan provided an update on the Skills & Talent Programme, highlighting its aims to support City Deal projects, deliver skills training, and create apprenticeship opportunities. Key achievements include the development of a Skills Barometer, the approval of 22 pilot projects, and the creation of six new apprenticeship routes. Challenges were noted regarding apprenticeship recruitment targets, partly due to changes in Welsh Government funding and a regional drop in apprenticeship starts. The programme is seeking an 18-month extension to March 2028 to ensure all objectives are met.

Financial Monitoring Report 2024/25

Chris Moore presented the financial monitoring reports for Quarter 1 and Quarter 2 of 2024/25. The reports detailed the provisional outturn positions for the Joint Committee and the Portfolio Investment Fund. An underspend was noted in the PMO office due to staffing vacancies, while accrued interest on invested funds was significant due to current market rates. An adverse variance was identified in top slicing due to the profile of project spend, but this is expected to correct itself over the next two years. The overall estimated investment position for the portfolio was reported as £1.35 billion, an increase from previous quarters, with significant investment noted in Digital Infrastructure, Pembroke Dock Marine, and Pentre Awel.

Swansea Bay City Deal Quarterly Monitoring Q2 2024/25

John Burnes provided an update on the Swansea Bay City Deal Quarterly Monitoring Report. The report indicated no movement in the Red Amber Green (RAG) status for scope, finance, resources, delivery, stakeholder engagement, or overall rating for most programmes, although Campuses retained a red status for finance and overall. Two red risks, In Year Slippage and Slippage in delivery of programmes/projects against key milestones, had moved into the issues log. Investment targets had increased to £1.35 billion, with £60 million invested in the quarter across key projects. Private sector funding was beginning to be reported for projects like Digital Homes, Power Stations, and Pembroke Dock Marine. Several projects, including SWITCH, Hydrogen Stimulus, and the Advanced Manufacturing Production Facility, had experienced delays, with procurement dates moving back by approximately a year. Positive progress was noted in Digital Infrastructure, with 50% of its target for full fibre infrastructure build completed, and in Pembroke Dock Marine, which was seeing private sector funding come through.

Swansea Bay City Deal Portfolio Objectives Definitions

John Burnes presented the definitions for the three portfolio objectives: Investment, Jobs Created, and Economic Impact. These definitions, developed in collaboration with project teams and drawing on various external sources, aim to standardise reporting and ensure consistency across the portfolio. The target for investment is £1.3 billion by 2033, for jobs created is 9,000 Full Time Equivalents (FTE) by 2033, and for economic impact is £1.8-2.4 billion by 2033.