Page 29 - OBID Business Plan 2024
P. 29
Accountability and Transparency
1. The BID Body will be Okehampton Business 6. Provided that the BID is meeting its overall
improvement District Limited (Company Number objectives, the Board shall have the ability to
(15547009) a not-for-profit organisation, limited vary service delivery and expenditure allocation
by guarantee. according to the changing demands of levy payers.
However, any change to the BID boundary or to
2. The Directors of the BID (the ‘Board’) shall the levy rate proposals may require an Alteration
be representative of levy-paying businesses. Ballot.
The Board will meet every two months, with
responsibility for governance matters such as 7. The Company shall meet with the Council, as
financial arrangements, contractual obligations, the Billing Authority, annually to monitor service
human resources, standards, performance, project delivery, levy collection and financial management
delivery and compliance. issues.
3. From time to time, the Board shall appoint a Chair. 8. The BID will file annual accounts compiled by
independent accountants with Companies House.
4. The Board may form such sub-groups that from An annual report on activities, including finances,
time to time become necessary, though a Finance will be published and be detailed to levy payers at
and Governance Group will be formed. an Annual Meeting.
5. An Operating Agreement will be agreed. The 9. Notification of the intention to hold a ballot was
Council’s Baseline service commitments have sent to the Secretary of State on 11th March 2024.
been agreed.
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