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Jill McGrath Chief Executive YMCA Perth and District Delivery via Social Impact Bond Outcomes-based contract in which public sector commissioners commit to pay for significant improvement in social outcomes for a defined population Private investment is used to pay for interventions Financial returns are made on the basis of improved social outcomes which are paid for by public bodies Delivery Structure for Living Balance Department for Work and Pensions Investors Intermediary Perth YMCA Local Partners How Does Living Balance Work? A portfolio of investors have been created and they have jointly invested in Living Balance As each outcome is achieved e.g. improved attendance at school, qualification achieved etc. Intermediary claims a payment from DWP These payments will ensure continued delivery At the end of the programme, investors will be paid back their initial investment and interest (subject to outcomes being achieved) Living Balance Overview Long Term support Individual approach focussing on each young persons abilities, challenges and aspirations through 1:1 and group work From 1 hour per week to full time hours Development Awards – up to £250 Work placement opportunities & Employment Qualifications Continuity of support 300 young people aged 14-24yrs Referral Organisations Schools Jobcentre Plus Skills Development Scotland Social Work Drug & Alcohol Team Youth Justice Youth Services Homeless Units Mental Health Team Self Referral What have our young people achieved? (18 Months) 117 Level 1/ SCQF 4 Qualification 64 Level 2/ SCQF 5 Qualification 6 Level 3/ SCQF 6 Qualification 49 Supported into work (approx 63/65 %) 46 Still in employment 18 Improved attendance at school 30 Improved behaviour at school Key Benefits & Risks Stability Flexibility Longer term support Intermediary support Investment in social enterprises Partnership Investors get a return and achieve social good DWP obligations must be met Ensuring relevant information for claims for outcomes Outcome achievement impacts on cashflow & investments Obligation to achieve outcomes based on innovation Wider environment Contact Details Jill McGrath YMCA Perth & District 5 Charlotte Street Perth PH1 5LW [email protected] 01738 630 121 Questions