Scheme funding

For all flood risk management schemes, we follow funding rules set by the Government. We can attract funding for schemes through Grant in Aid (GiA) and other sources. We have carried out our partnership funding (PF) calculation as part of the project appraisal process. This calculation gives a percentage score which tells us how much funding is available from GiA for each option and how much money will need to be found from elsewhere.

Government appraisal guidance states that the GiA funding available to a scheme is based upon the amount of money that would be required to achieve the national economically preferred option. There are a number of costs to be considered when assessing the options. The appraisal process enables us to understand the costs and benefits over the full lifetime of each option, as well as the costs associated with long-term maintenance.

To calculate the PF score the costs and benefits of the national economically preferred option are used in the PF calculator which defines the amount of GiA funding the scheme can receive. This is also expressed as the percentage PF score. This calculation also allows us to understand how much additional funding would be required to bring forward any local choice options. For the Scheme, the appraisal guidance requires that we consider funding over the next 30 year period until the next major investment would be required for any option when the gates at Island Barn would need to be replaced again. The funding also needs to account for the costs incurred developing the business case to date which are not included in the costs used to identify the national economically preferred option. The GiA funding available, costs and additional funding required for each option are set out in the table below.

The figures shown for the options are the best available to us at the present time and could be subject to change as the project progresses.

Option

GiA Funding Available (£M)

Costs (£M)

Partnership Funding Score (%)

Additional Funding Required (£M)

Purple

40.1

54.8

73

14.7

Red

40.1

45.4

88

5.3

Blue

40.1

42.3

95

2.2

Pink

40.1

44.2

91

4.1

Orange (national economically preferred option)

40.1

40.9

98

0.8


Sometimes the costs of options exceed the maximum amount of funding we can attract through GiA. This means that additional funding would need to come from external sources including Local Authorities, partners, businesses and the community. This is the case for all of our revised shortlisted options, so we will need to secure additional funding to carry out any works to update the Scheme and ensure it can continue to manage flood risk into the future.

For all flood risk management schemes, we follow funding rules set by the Government. We can attract funding for schemes through Grant in Aid (GiA) and other sources. We have carried out our partnership funding (PF) calculation as part of the project appraisal process. This calculation gives a percentage score which tells us how much funding is available from GiA for each option and how much money will need to be found from elsewhere.

Government appraisal guidance states that the GiA funding available to a scheme is based upon the amount of money that would be required to achieve the national economically preferred option. There are a number of costs to be considered when assessing the options. The appraisal process enables us to understand the costs and benefits over the full lifetime of each option, as well as the costs associated with long-term maintenance.

To calculate the PF score the costs and benefits of the national economically preferred option are used in the PF calculator which defines the amount of GiA funding the scheme can receive. This is also expressed as the percentage PF score. This calculation also allows us to understand how much additional funding would be required to bring forward any local choice options. For the Scheme, the appraisal guidance requires that we consider funding over the next 30 year period until the next major investment would be required for any option when the gates at Island Barn would need to be replaced again. The funding also needs to account for the costs incurred developing the business case to date which are not included in the costs used to identify the national economically preferred option. The GiA funding available, costs and additional funding required for each option are set out in the table below.

The figures shown for the options are the best available to us at the present time and could be subject to change as the project progresses.

Option

GiA Funding Available (£M)

Costs (£M)

Partnership Funding Score (%)

Additional Funding Required (£M)

Purple

40.1

54.8

73

14.7

Red

40.1

45.4

88

5.3

Blue

40.1

42.3

95

2.2

Pink

40.1

44.2

91

4.1

Orange (national economically preferred option)

40.1

40.9

98

0.8


Sometimes the costs of options exceed the maximum amount of funding we can attract through GiA. This means that additional funding would need to come from external sources including Local Authorities, partners, businesses and the community. This is the case for all of our revised shortlisted options, so we will need to secure additional funding to carry out any works to update the Scheme and ensure it can continue to manage flood risk into the future.

Page last updated: 15 Aug 2024, 07:43 AM