The Department for Children, Schools and Families and the Home Office have pledged to plough £66m over three years into youth crime prevention projects.
The Ministry of Justice will hand out a further £33m.
But while the AYM has given the funding the thumbs up, it has warned government it will now lobby for cash to help young people already in the criminal justice system.
“The core business of youth offending teams is to reduce re-offending," said Mike Thomas, AYM's chair.
"Prevention funding has enabled us to reduce the numbers of young people coming into the system. We now need to invest in services aimed at reducing the number of offences committed by those who slip through the net.”
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