Question and Response:
Q.1 How much was collected under the Hexham Bid Levy that was not distributed to Hexham Bid Limited.
A.1 There is £9,197.01 of the collected levy not distributed to the Hexham BID Ltd.
Q.2 Whether these funds will (or have been) forwarded to Hexham Bid Limited.
A.2 The Council made staged payments to Hexham BID Ltd up until October 2017, the Hexham BID Board sought to terminate the bid in December 2017 and as such the final payment due to the BID for 2017/18 was retained by the Council. This funding will be added to any funds the Local Authority receives on completion of the Hexham BID termination process to enable the BID revenue account to be reconciled as required under legislation.
Q.3 Whether these funds remain in the care of Northumberland County Council.
A.3 The funds are held in the Hexham BID Revenue Account by the Council.
Q.4 Have these funds been allocated or used for any other purpose?
A.4 No, the funds cannot be allocated or used for any other purpose.
Q.5 What are the plans for the distribution, return or allocation of these funds?
A.5 The following processes need to conclude before the plans are finalised:
- The BID Company accounts need to be finalised
- The BID company is wound up and residual monies returned to the BID Revenue Account
- The BID Revenue Account must be reconciled and legitimate costs deducted
- The final sum must be returned to eligible businesses in line with BID legislation