Corporate Governance Framework
4. The Commission shall ensure the ongoing solvency of the organisation and that sufficient levels of reserves are maintained.
5. The Commission shall set and agree a budget annually before the beginning of the next financial year. This budget will reflect the corporate and business plan objectives and enable their delivery.
6. The annual budget includes estimates of income, revenue expenditure, capital expenditure, reserves, cash flow forecasting and any representations to be made to DCMS in respect of the fee level. Indicative budgets and a financial plan will be projected for the following two financial years to support medium-term planning.Previous section
Introduction Next section
Last updated: 27 February 2023
Show updates to this content