important notice
east of scotland achieves n+2 financial spend target

Under the Structural Fund Regulations for the 2000-2006 programming period, the European Commission, with the encouragement of the member states, introduced a new financial discipline simply referred to as N+2. In effect what this means is that each Structural Fund Programme must formally declare a level of grant paid out by 31 December 2003 equivalent to its first 2 years Structural Fund allocation. In the case of the East of Scotland Objective 2 Programme, the target figure is €74m, which converts to approximately £51.4m at the December 2003 exchange rate.

Following a range of positive actions undertaken in the last six months to generate additional spend, I am pleased to advise you that the East of Scotland Objective 2 Programme has now officially achieved its N+2 target.

This is excellent news, and I would like to express my thanks to the partnership for the priority given by organisations to tackingling this issue and I acknowledge the considerable amount of hard work done recently in submitting valid grant claims. I would also like to record my appreciation to staff in the Programme Management Executive (PME) and colleagues in the Scottish Executive for their efforts.

Despite this positive news, it is important to remember that the Programme will have an N+2 target to achieve in 2004 and for future years. Therefore, whilst we have an excellent platform to build upon and the pace of the PME prompting can become less hectic over forthcoming months, it is important that the partnership does not become complacent over this issue. As such, I urge you to ensure that organisations continue to submit grant claims quarterly in line with the agreed ERDF Compliance Procedures and to advise the PME promptly where a project is not spending to schedule.

Once again I would like to thank all organisations for helping the Programme achieve its N+2 target. If you require any further information or indeed advice on this issue please do not hesitate to contact me or Nigel Thomas, Assistant Chief Executive.

GORDON McLAREN
CHIEF EXECUTIVE


18 December 2003

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