Issue - meetings

RESOLVED:

That the Annual Report of the Shareholder Board, attached as Annex A to the submitted report, be endorsed and that the Cabinet present the report to Council at its meeting on 9 October 2018.

Reasons for Decision:

To inform the Council about the activities of the Shareholder Board. 

The Shareholder Board has been established in accordance with best practice governance to ensure effective oversight and alignment with the strategic objectives and values of the Council.

[The decisions on this item can be called in by the Highways & Growth Select Committee]

The Leader noted the report submitted with the agenda and that as part of its strategy to innovate in developing new models of delivery, and to benefit from the freedoms introduced by the Localism Act, the Council had made investments and created trading companies to deliver income and efficiencies and in doing so had established a Shareholder Board, which reported annually to the Council.   The purpose of the Board was to safeguard the Council’s interest as shareholder and to take decisions in matters that require the approval of the Council as owner of a company. 

In response to a Cabinet Member query about measurement of outcomes being part of the governance role it was explained that the Shareholder Board was not responsible for the running of day to day affairs and that achievements were on target which the Board were pleased with.  It was also stated that by increased outcome targets also meant increasing the risks.

RESOLVED:

That the Annual Report of the Shareholder Board be endorsed and that Cabinet present the report to Council at its meeting on 9 October 2018.

Reasons for Decision:

To inform the Council about the activities of the Shareholder Board. 

The Shareholder Board has been established in accordance with best practice governance to ensure effective oversight and alignment with the strategic objectives and values of the Council.