My noble Friend the Under-Secretary of State for Communities and Local Government, Baroness Hanham, has made the following written ministerial statement:
I am today announcing that key performance targets have been agreed for the Queen Elizabeth II Conference Centre for the period 1 April 2011 to 31 March 2012.
The agency’s principal financial target for 2011-12 is to achieve a minimum dividend payment to the Department for Communities and Local Government equal to the total of 6% of average capital employed and a sum equal to the capital charge that applies to the building for the year concerned. Therefore, the agency’s budget for 2011-12 includes a minimum dividend payment of £1,100,000. An additional dividend of £100,000 will be paid if the financial forecast for the year is achieved.
The agency also has the following targets to achieve:
A 54% occupancy of its rooms based on a theoretical full occupancy revenue of £9,680,970;
Overall score for value-for-money satisfaction of greater than 90%;
The number of complaints received to be less than two per 100 events; and
An average response time when answering complaints of less than four working days.