Measuring Our Performance
As part of the mid-term review, Heartflood Ltd measured our performance and best practice against the BID Foundation’s Industry Standards Guidelines.
The BID Company has demonstrated that it meets the following guidelines and best practice, and the information has been published on the links highlighted.
1. The contact details for the CEO/BID Manager, and all other staff funded through the BID
2. The current BID Business Plan
3. The most recent BID ballot result, which includes the turnout by percentage and total number of hereditaments eligible to vote, the overall percentage majority by number and by rateable value
4. The names of BID Board members and either the name of their business or the sector they represent
5. A mechanism or contact details for levy payers to request minutes of Board meetings
6. An explanation on how levy payers can provide feedback to the BID. For example, details of an AGM and/or other regular meetings
7. Explicit details on the BIDs governance structure, specifically, how decisions are agreed and actioned
Evidence provided to the British BIDs Advisory Board, who oversee the "accreditation" process. Northfield BID was awarded "Accreditation" in March 2021. The BID will seek a renewal of its accreditation in 2024.
8. The annual billing leaflet sent to levy payers detailing how funds have been spent and the income received
9. An annual report detailing the BIDs achievements and its value to levy payers
This will be addressed in future BID3 publications.