Issue - meetings

Background:

This report outlined a possible Social Impact Bond (SIB) for Children’s Social Care and the potential efficiencies that could be realised for the Council. 

It was noted that increased demand on Children’s Social Care and the subsequent budget pressures had resulted in officers identifying how children’s social care services could be delivered differently with low to no investment.  Officers had researched the potential of SIBs as a means to transform the delivery of early intervention services with children either on the edge of care or who have recently come into care. It was noted that there were currently 23 SIBs operating in the UK, with three focussed on children in/on the end of care.

The report explained that officers had developed a service specification to tender for a Family Functional Therapy (FFT) service model funded through a SIB.  The SIB model would cover all aspects of design and delivery including:

•              FFT interventions

•              Ready investment

•              Performance management and reporting

•              Outcome and payment metrics.

The report set out details of the proposed model for Medway and recommended that Cabinet agree to officers submitting an application and going out to tender for a SIB partner.

Reasons:

Should the Council’s application for the Social Impact Bond be successful, it would improve outcomes for children and generate savings for the Council.