The West Midlands Combined Authority has said the lack of a secure funding plan is the “most significant risk regarding the Commonwealth Games”
The West Midlands Combined Authority has revealed that the funding for projects needed for the 2022 Commonwealth Games in Birmingham is still up in the air.
In a report prepared for a meeting of the local authority’s audit and risk assurance committee, it said the lack of a secure funding plan was the “most significant risk regarding the Commonwealth Games”.
The report said: “Transport for West Midlands is expending significant monies in advancing the transport planning for the Games, however there is a financial risk that these will not be fully reimbursed and a reputational risk that any agreed budget will be inadequate to fulfil national, regional and local expectations of transport services.
“This risk is currently considered a high risk (red) on the strategic risk register.”
The report also revealed that budgets were unlikely to be firmed up before May due to the fact they need to be approved by the government’s major projects review group.
The local authority said steps were being taken to try and mitigate this risk, with spend currently requiring approval in advance of expenditure by the joint transport group and the chief executive officers’ group
West Midlands Combined Authority is responsible for the infrastructure programme in the lead up to the Commonwealth Games.
Most of the funding for this programme, which consists of the sprint bus and new station projects, will be coming from its investment programme.
The authority is also making an additional £25m contribution to the Games from its investment programme, which Birmingham council has said it will use to help deliver the £70m revamp of Alexander Stadium. And it is also working to help deliver the £350m athletes’ village (pictured) in Perry Barr and develop a transport plan for the Games.
Last October, central government committed £165m to the athletes’ village development but the report said the West Midlands Combined Authority was still unclear on how this funding would be provided.