Advantage West Midlands is a non-departmental public body sponsored by the Department for Business, Enterprise and Regulatory Reform (BERR). It is accountable through its Chairman to the Secretary of State and the Chief Executive is personally accountable through the BERR Permanent Secretary to Parliament for the efficient and effective management of the public funding allocated to Advantage West Midlands by Government.
As part of our responsibilities for ensuring that public funds are used efficiently and effectively, Advantage West Midlands is subject to a number of performance management and reporting requirements, which are set out below.
Independent Performance Assessment (IPA)
During 2006-07 the National Audit Office (NAO), the UK's public spending watchdog, carried out an audit of the performance of Advantage West Midlands. Following the inspection, the NAO awarded the highest possible rating of 4 for Advantage West Midlands' overall performance and assessed the Agency as ‘Performing Strongly’.
The NAO report recognises that Advantage West Midlands has achieved considerable success, provides strong leadership, works well in partnership with a wide range of organisations, has excellent financial control, and a good record of achieving targets. It also recognises the strong and inclusive approach taken by Advantage West Midlands in developing the new West Midlands Economic Strategy.
The NAO’s report also set out a number of areas where further improvements in performance could be made. These include gaining a better understanding of the barriers to an effective regional marketing campaign, and improving communications on how we appraise projects.
An IPA Improvement Plan has been prepared to address the issues raised in the NAO’s report. Progress reports on implementing the Improvement Plan are made to the Agency’s Board every six months.
Corporate Plan
Advantage West Midlands produces a three-year Corporate Plan, which is usually updated every two years. The plan sets out how Advantage West Midlands will use its funding allocation from Government to help deliver the West Midlands Economic Strategy.
From 2005-06 the Government introduced a new target setting framework for regional development agencies, known as 'Tasking the RDAs'. This framework shows the linkages between national Public Service Agreements (PSAs), Regional Economic Strategies and the activity of the regional development agencies. RDA activity is measured through delivery of output targets which result directly from RDA funding.
Advantage West Midlands' Corporate Plan sets out the output targets that have been agreed with Government for the period 2005-08.
Annual Report and Accounts
Advantage West Midlands produces an Annual Report and Accounts at the end of each financial year, which are audited by the National Audit Office.
The Annual Report and Accounts set out Advantage West Midlands' performance against the objectives and output targets agreed with Government and contained in Advantage West Midlands' Corporate Plan. The Annual Report and Accounts are laid before Parliament, usually on the last day before the summer recess, and are then published.
In addition to the Annual Report and Accounts, Advantage West Midlands also publishes an Annual Review, which gives an overview of our performance and our main achievements.
West Midlands Regional Assembly Scrutiny of Advantage West Midlands
Regional Assemblies have a statutory responsibility under the Regional Development Agencies Act 1998 to scrutinise the work of the RDA in their region. Regional Assemblies and RDAs have worked to develop scrutiny mechanisms for each region that build on this statutory requirement.
In the West Midlands the scrutiny process is set out in a protocol that was developed jointly by West Midlands Regional Assembly, Advantage West Midlands and Government Office West Midlands. The aim of this protocol is to ensure that the scrutiny process adds value and enhances regional working.
Scrutiny of Advantage West Midlands by the West Midlands Regional Assembly provides a mechanism by which our strategies and policies can be assessed within the framework of the West Midlands Economic Strategy. The West Midlands Regional Assembly publishes a report on the outcome of each scrutiny review, and Advantage West Midlands subsequently provides reports on progress in implementing agreed recommendations arising from each scrutiny review.