These are regulated by the Phone-paid Services Authority; standards of advertising on TV, radio or the internet. From this time, all existing members were provided with access to the Ofcom stakeholder plan. As shown in the figure below, except for costs associated with our new responsibilities to regulate the BBC from 3 April 2017, Ofcom’s 2020/21 tariffs for the various sectors (excluding the new VSP regulatory duty) are largely in line with the 5-year average. Further detail on this is set out on page 56. IT costs increased by £1.4m as we refreshed our IT estate; Temporary staff and recruitment costs increased by £0.8m to cover vacancies; most of the increase in temporary staff costs is as a result of the need to quickly staff up in the network security and resilience area whilst permanent recruitment was underway for the specialist skills required, and also in the People & Transformation Team following a restructure. Core functions funded include: fundraising to support the station (e.g. The significant variance to the prior year reflects the inclusion of the provision of £232m in the 2018/19 financial statements which was funded by DCMS and settled in this financial year. The operating revenue required by Ofcom to fulfil its duties and deliver its programme of work for any financial year is calculated based on Ofcom’s statement of charging principles. Spectrum Clearance expenditure amounted to £76.7m in 2019/20 (2018/19: £72.5m), which includes £73.7m of grants paid to grant scheme participants. For information on these cookies and how to remove them, read our cookies policy. Ofcom is the regulator for the communications services that we use and rely on each day. An accounting surplus is required to cover expenditure not reflected in the Statement of Comprehensive Net Income, including capital expenditure and deficit recovery payments necessary in respect of the two defined benefit pension plans. One of the ways in which Ofcom funds its activities is to charge certain companies an annual administration fee. The Community Radio Fund helps to fund the core costs of running Ofcom-licensed community radio stations. It’s full name is the Office of Communications. Information for the TV, radio and on-demand industry, broadband, home phone and mobile services, alternative ‘dispute resolution’ services. Information for the TV, radio and on-demand industry, Ofcom's Annual Report and Accounts 2019/20. If stations have not received updated paperwork back from Ofcom, stations should be reassured that licence renewals are in hand. Press TV (stylised as PRESSTV) is an Iranian state-owned news and documentary network that broadcasts in the English and French languages. I do hope that the OfCom is under the Ministry of Truth in … The main operating variances from the prior year are due to: Staff costs increased by £2.4m to £79.2m (2018/19 £76.8m). Instead, these can be considered by alternative ‘dispute resolution’ services. As a consequence of the risk mitigation work between Ofcom and the Trustees and Actuaries of both pension plans, approximately 80% of the plans’ liabilities are now backed by annuities. The Ofcom (Former ITC) pension plan valuation liabilities have all been bought in and thus there is no surplus or deficit. In 2017, Ofcom discovered that BT had been overcharging millions of landline customers, and the company agreed to reduce its prices by £7 each month (£84 per year), with costs falling from £18.99 per month to £11.99. Accept cookies The increase in costs year on year relates to the annual pay award (£1.8m) and growth in our Technology team as we build our data and network security and resilience capabilities. Whilst Ofcom is directly accountable to Parliament, our funding comes from fees charged out to the sectors we regulate. :: Ofcom Riverside House 2a Southwark Bridge Road London SE1 9HA 020 7981 3000 [3]www.ofcom.org.uk. Type of funding: Grant Source: Statutory Type of cost: Revenue Gives grants to help fund the core costs of running community radio stations. The Broadband USO is being run by Ofcom with KCOM and BT the two broadband retailers given the task of implementing it following the rules set by Ofcom. As part of the ongoing activity to manage and mitigate risks of the plans, further insurance-backed benefit buy-ins in respect of pensioner members will be considered in the future. The funding surplus for the financial year is set out in Note 2 to the accounts and totals £8.6m (2018/19 £3.3m surplus). All costs relating to Spectrum Clearance are reported separately from Ofcom’s core responsibilities in the financial statements. Both plans are closed to new entrants and benefits accruals ceased on 31 May 2011. An accounting deficit occurs where depreciation, amortisation and other non-cash transactions are greater than the income received to cover the cash costs of capital items and the defined benefit pension plans. We regulate the TV, radio and video-on-demand sectors, fixed line telecoms, mobiles, postal services, plus the … BT slumped on the back of the news on Monday. Apparently OFCOM isn't a funded organization but rather a company that oversees funding in the United Kingdom. The £125.0m (2018/19: £124.3m) of income received in 2019/20 covers Ofcom’s core responsibilities (excluding Spectrum Clearance). The average staff numbers were 937 full time equivalents (FTE) (2018/19 902 FTE). Government has made grant-in-aid funding available for the grant scheme to allow Ofcom to disburse grants to scheme participants. Note of the Twenty-ninth Meeting of the Ofcom Community Radio Fund Panel held at Riverside House, 2a Southwark Bridge Road, London on Tuesday 19 June 2018 (PDF, 109.4 KB) It is our policy to keep board and committee minutes on our site for two years only. We use cookies to improve your experience on our site. Following the introduction of IFRS 16, property lease costs are presented on a separate line in the operating expenditure, Depreciation ROU lease assets. The 2020/21 budget is in line with the HM Treasury’s spending cap set for Ofcom. Viewers took to Ofcom to complain about Holly's outfit (Image: ITV) Others were from angry viewers offended by Holly's cleavage, with some claiming it was obscene for a pre-watershed show. As part of this, we also received £0.7m of grant funding from Innovate UK under the Regulators Pioneer Fund, for innovative work on the use of blockchain for UK telephone number management. Reduced restructuring activity has seen restructuring costs decrease by £0.6m to £0.3m (2018/19 £0.9m). Ofcom tracks Gigabit broadband growth, and bill payment challenges, in the UK Open Fiber stake heading Macquarie’s way Fiber access broadband network action leads today’s news roster, with expansion in the UK leading to new jobs creation and a stake in Italy’s Open Fiber set to change hands. Non-Recurring events funded include: fundraising to support the station ( e.g budget is in line with HM. 2018/19 £3.3m surplus ) how to remove them, read our cookies policy phone mobile. Watchdog Ofcom will take over regulation of … we use cookies to your! Stations have a social purpose, and postal services detail on this is set on. Also help to make the spectrum auction completed in 2018/19 the financial year is set out on page 56 ’. Us by the total revenues generated by the advertising Standards Authority ; what people write or post on internet... 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