BBC protocol B1 Strategic and financial approvals
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1 BBC protocol B1 Strategic and financial approvals April 2014 Getting the best out of the BBC for licence fee payers
2 Strategic and financial approvals What is a protocol? Protocols are formal documents which set out how the BBC Trust will carry out its functions as required by the BBC s Royal Charter and Framework Agreement. Protocols set out the Trust s processes, and the respective roles and responsibilities of the BBC Trust and the BBC Executive Board. The Charter and Agreement The Royal Charter is the constitutional basis for the BBC. It sets out the public purposes of the BBC, guarantees its independence, and outlines the duties of the BBC Trust and the BBC Executive Board. The Agreement sits alongside the BBC s Royal Charter. It provides detail on many of the topics outlined in the Charter and also covers the BBC's funding and its regulatory duties. What this protocol is about This protocol explains how the BBC Trust sets the BBC s overall strategic direction and approves high-level strategy and financial budgets.
3 Contents Strategic and financial approvals 2 Approach and principles 2 A STRATEGY FOR THE UK PUBLIC SERVICES AND ACTIVITIES 4 Role and duties of the BBC Trust 4 Role and duties of the BBC Executive Board 4 Procedures 4 Outputs and timing 5 B FINANCIAL STRATEGY AND BUDGETS 7 Role and duties of the BBC Trust 7 Role and duties of the BBC Executive Board 7 Procedures 7 Outputs and timings 9 References 10 1
4 Strategic and financial approvals Approach and principles 1.1 The overall strategic direction of the BBC is set by the BBC Trust, 1 having regard to the BBC s public purposes and the regulatory framework within which the BBC operates. 1.2 The BBC Executive Board develops specific high-level strategies and associated budgets that fit with the overall strategic direction set by the Trust. 2 These highlevel strategies will cover the BBC s various services and other activities, both public and commercial, overseas and in the UK. 1.3 Where such strategies affect the frameworks set by the Trust through its service licences and operating frameworks, or where they require changes to the budgets that the Trust agrees, they must be submitted to the Trust for approval.the BBC Trust will critically evaluate such proposals and will, where necessary, require that they be amended or revised prior to approval. The BBC Trust will require sufficient time to be allowed for consideration by the Trust Unit 3 prior to presentation to the Trust. 1.4 In keeping with the requirement that the Executive Board is responsible for the operational financial affairs of the BBC, the BBC Trust's evaluation of high-level strategies and associated budgets will be at a strategic level while the Executive Board will review the detailed budget allocations and operational plans As the strategies submitted to the BBC Trust are high-level, Trust approval does not signify approval for all items within them individual items must still be subject to approval through the normal channels (for example, some items may require a Public Value Test; some investment decisions may require specific BBC Trust approval due to the size or nature of expenditure). 1.6 Once the high-level plans have been approved by the BBC Trust, the Executive Board will have responsibility, and financial freedom, to manage operations subject to a referral framework designed to ensure that certain transactions or activities, or variations from budgets or strategic plans, are referred to the BBC Trust for approval. 1.7 The BBC Trust expects that delivery of the high-level strategy will need to be monitored against the objectives agreed by the Trust and the strategies and associated budgets amended periodically. Protocol E1 BBC Trust Oversight of the BBC sets out the general financial monitoring arrangements, while protocols C1 UK Public Services, C2 International Public Services and C4 Commercial Services set out how the BBC Trust will oversee the provision of the Public Services and commercial services. 1 BBC Charter Articles 7 and 24(1)(a). 2 BBC Charter Article 24(2)(a) 3 The Trust Unit provides independent advice and support to the BBC Trust. 4 BBC Charter Article 9(3) 2
5 1.8 This protocol does not cover the BBC s commercial services, BBC World Service and BBC Monitoring (except at B3.1 and B3.5). These last two services have specific arrangements: the World Service is covered in protocol C2 International Public Services and BBC Monitoring is covered in protocol C5 BBC Monitoring and the BBC Monitoring Scheme (March 2013). Matters pertaining to commercial services, including commercial strategy, are covered in protocol C4 Commercial Services. Scope 1.9 This protocol is divided into the following sections: (a) Part A: how the BBC Trust sets and oversees the implementation of strategy for the UK Public Services and other public activities; (b) Part B: how the BBC Trust approves financial plans and budgets. 3
6 A STRATEGY FOR THE UK PUBLIC SERVICES AND ACTIVITIES Role and duties of the BBC Trust A1.1 The Charter allocates to the BBC Trust the function of setting the overall strategic direction of the BBC and for approving high-level strategy in respect of the BBC's services and activities in the UK and overseas. This section of the protocol addresses those functions in respect of the BBC s Public Services and licence feefunded activities. Role and duties of the BBC Executive Board A2.1 The Executive Board has responsibility for developing strategies and high-level budgets for BBC Trust approval 5 and for delivering the BBC s services and other activities in accordance with the priorities set by the purpose remits and the strategic direction set by the Trust. 6 Procedures BBC Trust direction A3.1 In exercising its functions in relation to setting the strategic direction and approving high-level strategy, the BBC Trust is principally concerned with the BBC s long-term plans for promoting the BBC s Public Purposes through its services. The BBC Trust will outline its points of strategic direction and will set long-term objectives for the BBC that it will seek to agree with the Director- General. It will then require the Executive Board to develop proposals for the overall high-level strategy of the BBC according to the Trust's direction and objectives. A3.2 Where any such strategy affects the frameworks set by the Trust through its service licences and operating frameworks, or where they require changes to the budgets that the Trust agrees, they must be submitted to the Trust for approval. If the Trust has reason to believe, based on its monitoring of Executive performance, that the BBC is performing inadequately any of the ancillary corporate or operational management activities that allow BBC services to be delivered, the Trust may require the Executive to produce a report, strategy or action plan, specific to that area, for Trust approval. 5 BBC Charter Article 38(1)(f) and 24(2)(a) 6 BBC Charter Article 38(1)(a) 4
7 Executive development of strategic proposals A3.3 Responsibility for developing and obtaining approval for the BBC s high-level strategy lies with the Executive Board. A3.4 The Executive Board will ensure that this strategy is developed and presented according to the BBC Trust s directions. BBC Trust approval A3.5 The BBC Trust will, in its oversight role, be responsible for critically evaluating such proposals and will, where necessary, require that they be amended or revised prior to approval. In this way it will maintain appropriate distance from the operational work of the Executive Board and maintain the independence that is necessary for it to undertake its function of holding the Executive Board to account for delivery of the BBC's services. 7 A3.6 Approval of high-level strategies by the BBC Trust does not signal its agreement to all items within them. A3.7 Individual items of strategic importance may still require specific BBC Trust approval. The Executive Board will be responsible for presenting such individual items to the BBC Trust for approval on a basis that is consistent with the highlevel strategy and in accordance with processes set out in other relevant protocols. Monitoring and review A3.8 The BBC Trust will establish appropriate points throughout the year to review and monitor performance against high-level strategy. A3.9 The BBC Trust also expects the Executive Board to alert it in good time to any developments in either the strategic or market context that are likely to require significant changes to its strategies or activities, and to notify the Trust of such significant changes, even where they do not require Trust approval. A3.10 As a result of the activities noted above, the BBC Trust may require the Executive Board to submit to it, for approval, a report, strategy or action plan in a particular area. The Executive Board may also present such proposals on its own initiative. Outputs and timing A4.1 This section sets out a summary of the key outputs, and where known, timings as set out in part A strategy for the UK Public Services and activities for this protocol. (a) The Executive Board will develop the BBC s high level strategies. It must seek the Trust s approval of these where they affect the service licences, operating frameworks or budgets that are set by the Trust. (b) The BBC Trust will report publicly on key decisions that it makes concerning the future strategic direction of the BBC. 7 BBC Charter Articles 24(1)(c) and 38(1)(a) 5
8 (c) The BBC s Annual Report and Accounts will include an annual review of the BBC s performance against long-term objectives and any other key aspects of its high-level strategy. 6
9 B FINANCIAL STRATEGY AND BUDGETS Role and duties of the BBC Trust B1.1 As set out above at A1.1, the BBC Trust has the function of approving high-level strategy and budgets for the BBC. This part of the Protocol deals with financial strategy and budgets. B1.2 The Charter includes two specific functions for the BBC Trust relating to financial approvals. These are: (a) setting multi-year purpose remits, and approving strategies which include high-level budgetary allocations 8 (b) approving individual strategic or financial proposals where they stand to have significant implications for the fulfilment of the purpose remits and strategies referred to above, or for the overall financial position of the BBC. 9 Role and duties of the BBC Executive Board B2.1 The Executive Board is responsible under the Charter for making proposals to the BBC Trust for anything which is for the Trust to approve under Article 24(2)(a) and (e), as set out at B1.2 above. 10 Procedures BBC Trust direction B3.1 The BBC Trust will require the Executive Board to submit to the Trust each year for approval: (a) high-level financial strategy which reflects BBC remits and strategies over several years: for the BBC as a whole; for the BBC World Service as a whole; for BBC Monitoring as a whole; and for each service which has been issued a service licence and other significant activities which the BBC undertakes (including non-service and commercial activities). (b) High-level annual budgetary allocations: for BBC as a whole; for the BBC World Service as a whole; for BBC Monitoring as a whole; 8 BBC Charter Article 24(2)(a) 9 BBC Charter Article 24(2)(e) 10 BBC Charter Article 38(1)(f) 7
10 for each service which has been issued a service licence; and for any other significant activities within the BBC overall budget. (c) Taken together, these strategies must: support the BBC s purpose remits and service strategies as approved by the BBC Trust; include a rolling three-year financial overview (updated annually); and include an annual high-level budget linked to service provision. Executive Board development of financial strategies and budgets B3.2 Responsibility for developing and gaining approval for the BBC s high-level financial strategy and budget lies with the Executive Board. B3.3 The Executive Board will ensure that the financial strategy and budgets are developed according to the BBC Trust s requirements. B3.5 Without prescribing the overall contents and format of the financial plans and budgets, which will reflect the Executive Board s judgement on what is relevant to giving an informed view of the financial affairs of the BBC, the information should include: (a) strategic objectives (b) challenges and financial risks facing the BBC arising from the external and internal environment in the short term; and in the longer term (c) management of those risks (d) income projections and sensitivities (e) analysis of planned expenditure by service (linked to service budgets and strategies); by genre; and by other major cost type (e.g. property) (f) capital expenditure forecasts (g) cash flows including debt requirement (h) commercial business forecasts (see Protocol C4): turnover; profits and profit margins; and cash flows (i) BBC World Service financial budget (see protocol C2) (j) BBC Monitoring financial budget (see protocol C5). 8
11 B3.6 The Executive Board will, in agreement with the Trust Unit, adopt a process and timetable that allow sufficient time for the relevant BBC Trust committees and the Trust itself to scrutinise the proposals in advance of the start of the financial year to which the annual budget refers. BBC Trust approval of financial strategies and budgets B3.7 The BBC Trust will, in its oversight role, be responsible for critically evaluating the proposed financial strategy and budgets. It will, where necessary, require that the financial strategy be amended or revised prior to approval. In this way it will maintain appropriate distance from the operational work of the Executive Board and maintain the independence that is necessary for it to undertake its duty of holding the Executive Board to account. B3.8 In deciding whether to approve the financial strategy, the BBC Trust will be looking for assurance that it is: (a) appropriate to the BBC s overall public purposes and its financial health; (b) in accordance with BBC Trust-approved strategies (including the priorities set by purpose remits, service licences and any applicable Trust directions); and (c) in the public interest and represents value for licence fee payers. B3.9 Individual items, by virtue of their value or nature, may still require specific BBC Trust approval over and above the general approval given to the financial strategy and annual budget. The Executive Board will be responsible for presenting such individual items to the BBC Trust for approval on a basis that is consistent with the high-level financial strategy and budget, and in accordance with the referral framework set out in protocol E1 Trust oversight of the BBC. Monitoring and review B3.11 Annually, towards the end of the final quarter of the fiscal year, the BBC Trust will consider the next iteration of the BBC s rolling three-year budget. B3.12 Beyond this annual budget process, the BBC Trust also expects the Executive Board to alert it in good time to any developments that are likely to require significant changes to approved financial strategies. B3.13 Additionally, the BBC Trust will monitor the BBC s performance against the approved financial plans in accordance with the procedures set out in protocol E1 Trust Oversight of the BBC. Outputs and timings B4.1 This section sets out a summary of the key outputs, and where known, timings as set out in part B financial strategy and budgets for this protocol. (a) The Executive Board will make proposals to the Trust in respect of the obligations set out in Article 24(2)(a) and (e) of the Charter as set out in paragraph B1.2 above. It must seek the Trust s approval of these. (b) The BBC Trust will report publicly on key decisions that it makes concerning future financing and expenditure plans for the BBC. In particular, any 9
12 amendments to the budgets set by the BBC Trust for individual service licences will be reported publicly. (c) The BBC Trust will comment on the BBC s financial performance against Trust targets and limits within its part of the Annual Report and Accounts. References 2.1 BBC Charter The following articles in the BBC s Charter are relevant to this protocol: (a) BBC Charter Article 22 Guardians of the licence fee and the public interest (b) BBC Charter Article 38 Functions of the Executive Board (c) BBC Charter Article 45(10) Annual reports and statement of accounts (d) BBC Charter Articles 24(1)(a), 24(1)(b), 24(2)(a) and 24(2)(e) - Functions of the Trust. (e) BBC Charter Article 38(f) Functions of the Executive Board 2.2 BBC Framework Agreement There are no clauses in the Agreement relevant to this protocol. 2.3 Other documents There are no other documents relevant to this protocol. Version Date of publication Approved by the Trust Summary of changes since previous version 1.0 January & 10 January 2007 n/a 2.0 May February 2010 This document has been updated to fit in the new protocol format and explain relevant processes in more detail. It incorporates the previous protocols B1 High Level Strategy and C1 Financial Plans, Budgets and Delegations. 3.0 May May 2014 From 1 April 2014, BBC World Service and BBC Monitoring have been funded by the licence fee. This protocol has been revised to update references to the relevant protocols for these services, and to reflect the findings of the 2013 Governance Review. 10
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