Common use of Review and Reporting Clause in Contracts

Review and Reporting. 16.1 The Partners shall report to each other both quarterly and annually on the exercise of their respective Functions which are the subject of the Partnership Arrangements pursuant to this Agreement and in accordance with this Clause 16. 16.2 The Partners shall review the operation of the Agreement annually no later than by 30th September in any year to review: 16.2.1 the performance of the Partnership Arrangements against the Aims and Outcomes; 16.2.2 the performance of the Services against the service levels and other targets contained in the relevant Service Contracts; 16.2.3 plans to address any underperformance in the Services; 16.2.4 actual expenditure compared with agreed budgets, and reasons for and plans to address any actual or potential underspends or overspends; 16.2.5 review of plans and performance levels for the following year; and 16.2.6 plans to respond to any changes in policy or legislation applicable to the Services or the Partnership Arrangements. 16.3 The Partners shall prepare an annual report following the annual review for submission to the JCE. 16.4 The Partners shall also consider any changes that may be required to assure delivery of Aims and Outcomes of the Agreement going forward: 16.4.1 the continuation and scope of the Agreement for the subsequent financial year; 16.4.2 their respective Financial Contributions to the Pooled Fund for that Financial Year. The Partners may at this time agree to vary such contributions and Annex 2 of Schedule 3 shall be amended accordingly; and 16.4.3 any further written agreement pursuant to clauses 17.3.3 and 17.4.3 to this Agreement. 16.5 The Partners shall also use reasonable endeavours in each Financial Year to agree by 1st March a draft budget for the following Financial Year. Such budget will be finalised once the Partners have agreed their Financial Contributions for the relevant Financial Year in accordance with Clauses 16.2, 16.3 and 16.4 above. 16.6 Reviews shall be conducted in good faith and in accordance with the governanc e arrangements set out in Annex 3 of Schedule 3, shall be based upon information to be provided as set out in Annex 3 of Schedule 3 and shall take account of: 16.6.1 reasonable increases for inflation; 16.6.2 any agreed addition or decrease of funds for development of the Pooled Fund against any agreed targets; and 16.6.3 any commitments under or in connection with any Service Contract. 16.7 The Partners shall carry out a quarterly review of the Partnership Arrangements within 30 days of the end of each Quarter. 16.8 The Pool Manager shall submit a [monthly / quarterly] report to the PFG (the “PFG Report”) setting out: 16.8.1 the performance of the Partnership Arrangements against the performance management framework in the preceding month; and 16.8.2 any forecast overspend or underspend of the Financial Contributions. 16.9 The PFG Report shall be escalated to JCE in line with the PFG Terms of Reference.

Review and Reporting. 16.1 The Partners shall report to each other both quarterly and annually on the exercise of their respective Functions which are the subject of the Partnership Arrangements pursuant to this Agreement and in accordance with this Clause 16. 16.2 The Partners shall review the operation of the Agreement annually no later than by 30th September in any year to review: 16.2.1 the performance of the Partnership Arrangements against the Aims and Outcomes; 16.2.2 the performance of the Services against the service levels and other targets contained in the relevant Service Contracts; 16.2.3 plans to address any underperformance in the Services; 16.2.4 actual expenditure compared with agreed budgets, and reasons for and plans to address any actual or potential underspends or overspends; 16.2.5 review of plans and performance levels for the following year; and 16.2.6 plans to respond to any changes in policy or legislation applicable to the Services or the Partnership Arrangements. 16.3 The Partners shall prepare an annual report following the annual review for submission to the JCE. 16.4 The Partners shall also consider any changes that may be required to assure delivery of Aims and Outcomes of the Agreement going forward: 16.4.1 the continuation and scope of the Agreement for the subsequent financial year; 16.4.2 their respective Financial Contributions to the Pooled Fund for that Financial Year. The Partners may at this time agree to vary such contributions and Annex 2 of Schedule 3 shall be amended accordingly; and 16.4.3 any further written agreement pursuant to clauses 17.3.3 and 17.4.3 to this Agreement. 16.5 The Partners shall also use reasonable endeavours in each Financial Year to agree by 1st March a draft budget for the following Financial Year. Such budget will be finalised once the Partners have agreed their Financial Contributions for the relevant Financial Year in accordance with Clauses 16.2, 16.3 and 16.4 above. 16.6 Reviews shall be conducted in good faith and in accordance with the governanc e governance arrangements set out in Annex 3 of Schedule 3, shall be based upon information to be provided as set out in Annex 3 of Schedule 3 and shall take account of: 16.6.1 reasonable increases for inflation; 16.6.2 any agreed addition or decrease of funds for development of the Pooled Fund against any agreed targets; and 16.6.3 any commitments under or in connection with any Service Contract. 16.7 The Partners shall carry out a quarterly review of the Partnership Arrangements within 30 days of the end of each Quarter. 16.8 The Pool Manager shall submit a [monthly / quarterly] report to the PFG (the “PFG Report”) setting out: 16.8.1 the performance of the Partnership Arrangements against the performance management framework in the preceding month; and 16.8.2 any forecast overspend or underspend of the Financial Contributions. 16.9 The PFG Report shall be escalated to JCE in line with the PFG Terms of Reference.