Spend of S106 Commuted Sums - Public forum - Planning Advisory Service (PAS)

We are currently looking at reviewing the procedure for the way that S106 public open space commuted sums are spent. At present, Neighbourhood Managers have the responsibility of spending public open space commuted sums whilst working with Elected Members to work up and deliver projects. Does anyone have any examples of best practice of the processes that are currently used to spend public open space commuted sums and what the process is for obtaining politically sign off? Thanks, Laura