Funding & Accountability

The RDAs are financed through a Single Budget, a fund which pools money from the following Government Departments:

• Department for Business, Innovation and Skills;
• Department for Communities and Local Government;
• Department for Energy and Climate Change
• Department for Culture, Media and Sport;
• Department for Environment, Food and Rural Affairs;
• UK Trade & Investment.

This Single Budget gives RDAs the flexibility to develop solutions that fit their regions, bringing to life national aspirations in the context of regional priorities.

In addition to their Single Budget, the RDAs manage the European Regional Development Fund (ERDF) and the Rural Development Programme for England (RDPE).  Both programmes run from 2007 to 2013 and together amount to £9 bn.

RDAs are accountable through their Chairs to the Secretary of State and the Chief Executives are personally accountable for the effective and efficient management of public money to Parliament (through the Department for Business, Innovation and Skills, their sponsor Department).

RDAs are also accountable through a number of other mechanisms including:

• The National Audit Office’s work to independently assess each RDAs’ performance via the Independent Performance Assessment and Independent Supplementary Review processes.
• Publication of Corporate Plans, Annual Reports and Accounts.
• The LDA is also accountable to the Mayor of London and the London Assembly.