16 February 2016
This is a reminder that we will recover funding where a TEO has under-delivered or received funds for an amount greater than it should have or received funds that it was not entitled to receive in 2015.
The information on the recovery process for the funds which you received in 2015 was included in your Investment Plan funding approval letter or funding letter, under “Conditions”. You can also find information on recoveries on our website under the individual funds.
Process for recovering unused 2015 funding
Recoveries will be based on your submitted final delivery data for 2015.
Where a TEO has under-delivered or received funding for an amount greater than it should have received, we will recover the amount due to be repaid by offsetting the amount against the 1 March 2016 payment. Where a recovery amount is greater than the 1 March payment, we will ask the TEO to pay back the remaining balance by 7 March 2016.
A letter explaining this and the amount due to be repaid will be uploaded to Workspace 2 in the week of 22 February 2016. We will notify you via email once it has been uploaded.
Please contact the Sector Helpdesk on 0800 601 301 or email email@example.com if you have any questions.