Probe launched into PACE grant funding

Council acts after claims of financial mismanagement

A council probe has taken place into grant funding of Paisley’s crisis-hit PACE Theatre Company.

Council bosses launched their investigation after allegations of financial mismanagement at the popular Paisley acting and dance school led to the dismissal of its founder David Wallace.

An internal audit found that the money was “adequately accounted for” but that the company still owed a substantial amount to the local authority and Renfrewshire Leisure.

Auditors were drafted in to check that cash handed to the company by Renfrewshire Council was being spent in line with funding applications.

The report noted the company “has a significant amount of outstanding debt to the Council and Renfrewshire Leisure Ltd” and that “previous payment plans had not been adhered to.”

However, it added that in recent months payments have been made as expected.

PACE bosses say they hope to clear the debt by August this year.

Council bosses say they will continue to monitor the firm, which helped launch the careers of Hollywood star James McAvoy and pop superstar Paolo Nutini, in coming months.

Grant Mason, chief executive, PACE Theatre Company, insists the firm is pleased with the findings of the report but admitted there remains work to be done.

He said: “We are pleased that Renfrewshire Council’s report confirms the finding of our own internal audit, which concluded that grants received from Renfrewshire Council were spent in line with the grant applications.

“We can confirm that of the £2,614 awarded by the Local Area Committees to support youth theatre bursaries £2,248 has now been awarded, with one bursary place currently remaining for the Renfrew and Gallowhill area. We foresee this being allocated in August 2018.

“We can confirm that the payment plan regarding the long term outstanding debt has been adhered to since the time of the report, and as such the amount outstanding has now been reduced by two thirds. All debt should be cleared by August 2018.

“Finally, PACE can confirm that changes enacted in the company following the departure of the previous Executive Director, have enabled us to significantly stabilise the company’s financial position in the last nine months.

“PACE work with over 1,000 young people every week and we are pleased that this will allow that work to continue.

“We look forward to posting our annual audited accounts shortly which will confirm this position.”

We can confirm that the payment plan regarding the long term outstanding debt has been adhered to