FCO Services (Performance Targets 2011-12)
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The Parliamentary Under-Secretary of State for Foreign and Commonwealth Affairs (Mr Henry Bellingham)
FCO Services operates as a trading fund of the FCO. I have set the following performance targets for 2011-12:
An in-year surplus before interest and tax producing a net margin of between 1% and 5%.
A return on capital employed of at least 3.5% (weighted average).
Finance, HR, ICT and procurement functions to sit within or above the second quartile in the Office for Efficiency and Performance benchmarking survey.
A utilisation rate for revenue earning staff of between 75%-80%.
Customer satisfaction rating to be within or above the second quartile in the customer satisfaction index, as produced by the Institute of Customer Service.
FCO Services will report to Parliament on its success against these targets through its annual report for 2011-12.