The Croydon BID Articles of Association states the purpose of the company as well as the duties and responsibilities of its members.
The Board provides strategic direction and input and is responsible to stakeholders for the conduct, performance, and due governance of the BID Company. It is also responsible for setting the annual budget and monitoring finances throughout the course of the year. Membership of the Board is voluntary, and directors are unpaid. Membership of the Croydon BID Board of Directors reflects our Articles of Association. The Croydon BID Board of Directors is made up by majority of Croydon BID levy members across all main sectors. Croydon BID Board Directors are registered at Companies House and have voting rights.
The Croydon BID Board of Directors invites observers to attend meetings. Observers do not have voting rights and provide update and information to support the work of the Croydon BID Board of Directors.
Croydon BID’s financial accounts are prepared by Bryden Johnson. Croydon BID’s financial year ends on 31st March. Croydon BID’s accounts are audited annually by DSK Partners LLP and approved by the Croydon BID Board of Directors.
The Croydon BID Operating Agreement outlines the agreed terms of operation between Croydon BID and Croydon Council. These arrangements are governed and administered within the guidelines set out in the BID (England) Regulations 2004. Croydon Council will be responsible for collecting the BID levy on behalf of Croydon BID. The levy will be collected in one instalment due on 1st April each year and held in a separate account solely for Croydon BID.