Saffron Walden BID Governance

  • The proposer of the BID and BID Body is Saffron Walden Business Improvement District Ltd, a not-for-profit company limited by guarantee. Any levy payer or voluntary contributor can stand to be elected onto the Board.
  • The current BID board comprises business representatives from several sectors in our BID area including: retail both independent and national, services, hospitality and office-based businesses.  All Board member positions are voluntary and do not receive payment.
  • This Company is Limited by Guarantee. The members’ liability is limited to £1.00 each. The Directors have their regulatory liability covered by Directors & Officers insurance.
  • This structure ensures that the Board of Directors are fully accountable to BID levy-payers. All levy paying businesses are entitled to become members of the company. All members will be entitled to vote at member meetings and those meetings would include the appointment of new Board Directors.
  • We are always looking for volunteers to join the team. Any levy payer or voluntary contributor can stand to be elected onto the Board during this process.
Saffron Walden Governance
  • It is proposed that a Board would be elected from the members to create a representative, business-led group to oversee the financial, managerial and operational activities of the BID.
  • Subject to consultation with the businesses, the Board shall have the ability to vary service delivery and expenditure allocation according to changing demands of the levy payers or when substantial changes to economic circumstances impact on the BID area. However, any change to the BID boundary or to the levy rate would require an additional ‘alteration’ ballot.
  • The Board will meet on a monthly basis. They would communicate regularly with levy-payers on key items. Open meetings will be held every two – three months.
  • All BID levy-payers will be entitled to attend meetings of the Board to raise any matter and the Board would also follow industry best-practice in the following areas:
    1. Producing annual accounts using a local accredited accountancy firm, leading to the production and submission of an annual report, annual accounts and the submission of statutory financial and corporation tax returns. A financial statement will be sent with the BID levy bills on an annual basis.
    2. Producing regular updates to BID levy-payers.
    3. Allowing the rotation of Board representatives as required via elections.