REGENWM
Governance and Finance
Governance
RegenWM is an operating unit of Advantage West Midlands (AWM), the Regional Development Agency. Our Board is chaired by Tony Sealey of the AWM Board. Our Board is known legally as a 'second tier board' which means that it is an advisory group who advise a first tier publically-appointed organisation (that's AWM and its Board). In practice we have a strong and mature relationship with the Development Agency, with them being represented on the Board whilst happy to have all authority over the work programme delegated to that Board group. In practice, therefore, RegenWM enjoys an independence of operation and delivery and is able to guide its own affairs in consultation with appropriate partners and stakeholders.
The Board have agreed a three year business plan (2006-09) setting out our strategic direction and priorities. This is broken down into an annual implementation plan against which the Board measures progress. Both documents are available to download from this page.
Finance
RegenWM is core financed by AWM to 2009; this represents about 50% of our income. The rest of our funding is a combination of ERDF, sponsorship, income from events, grants and the provision services. We work with the national Academy for Sustainable Communities to agree and deliver projects that contribute to shared objectives.
Business ethos
We have been keen to develop our business planning and to ensure that our activity contributes to regional improvement. As part of this we have become accredited for Investors in Excellence status, which is part of the EFQM family of standards. Further, we have a continuous improvement approach to ensure that all internal and outward facing processes are fit for purpose and that we are meeting needs of customers and clients.
When agreeing our current round of core funding (2006-09) we agreed that our prioirity for the development of the business was as below. This is held under constant review by Board and Executive to ensure fitness for purpose.
- implement a customer focused approach that will ensure RegenWM is delivering maximum impact and value with key customers
- maintain RegenWM’s position as a leading RCE through piloting, innovation and R&D
- develop partnering relationships with learning providers and trainers in order to influence their practice and build sustainability through shared risk models of operation
- build RegenWM’s reputation, impact and value to ensure financial contributions from a wide range of partners