Decision details

To receive an update on the performance of Council companies.

The Committee received a report on the performance of companies owned or partly owned by the Council. There was noted to be additional confidential information of the performance of the companies available in an accompanying exempt item.

The Committee considered and discussed the report. There were a number of questions and comments, relating to the following topics:

·         Reporting timetable and arrangements: It was identified that the report on the performance of companies owned or part-owned by the Council was expected to be presented on a six-monthly basis. It was expected that additional detail would be available in future.

·         Audit arrangements: It was confirmed that all of the companies had external audit arrangements in place where required. It was requested that audit information regarding the companies be made available to committee members where possible.

·         Council governance of companies: It was identified that future governance of commercial activities by the Council was being considered by the cross-party commercial governance group, working with the Council’s Monitoring Officer. It was identified that an update from the group was expected to be available in December, with a report in January. Interested Members were invited to contact the chair of the group. It was commented that it would have been preferable for the work of the group to have been undertaken and concluded at an earlier date.

·         Loans to the companies. It was agreed that a written response would be provided explaining how the Council’s loans to the companies would be shown in the accounts.

RESOLVED that the Companies Performance Update report be noted.