Agenda, decisions and draft minutes
PDF 208 KBVenue: Committee Room, Surrey County Council, Woodhatch Place,11 Cockshot Hill, Reigate, Surrey, RH2 8EF. View directions
Contact: Huma Younis, Committee Manager Email: huma.younis@surreycc.gov.uk
Media
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Apologies for Absence
To note any apologies for absence.
Additional documents: Decision: There were none. Minutes: There were none. |
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Minutes of the Previous Meeting: 17 February 2025
To agree the minutes from the last meeting.
Additional documents: Decision: These minutes were agreed as a correct record of the meeting. Minutes: These were agreed as a correct record of the meeting. |
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Declarations of Interest
All Members present are required to declare, at this point in the meeting or as soon as possible thereafter (i) Any disclosable pecuniary interests and / or (ii) Other interests arising under the Code of Conduct in respect of any item(s) of business being considered at this meeting NOTES:
Additional documents: Decision: There were none. Minutes: There were none. |
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Questions and Petitions
To receive any questions or petitions.
Additional documents: Decision: There were none.
Minutes: There were none.
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STRATEGIC INVESTMENT BOARD ANNUAL REPORT, FINANCIAL YEAR 2023/24 - INVESTMENTS OVERVIEW
The Board is asked to approve the Strategic Investment Board Annual Report for 2023/24.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
N.B. There is a Part 2 report at Item 7 and 8. Additional documents: Decision: RESOLVED:
1. That the Board approves the Strategic Investment Board Annual Report for 2023/24. Reasons for Decisions:
· To inform the Council about the activities of SIB.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
Minutes: The Chairman explained that the Board was being asked to approve the Strategic Investment Board Annual Report for 2023/24. The report within the Part 1 agenda included an Investments Overview for 2023/24. The report had been discussed at informal Cabinet and at the Shareholder Investment Panel meeting. The Deputy Chief Executive and Executive Director for Resources explained that governance controls around the Council’s companies would be re-established to ensure companies were held to account . More decisions would be coming through to the board in the near future. The Strategic Finance Business Partner explained that the intention going forward was to have an end of year report which looks back at companies performance over the year against objectives that have been set including KPIs. There would be a specific section to review business planning and strategic direction for all the companies. Reviewing business plans for all the companies would begin in June and July. The Strategic Finance Business Partner highlighted that the bulk of income coming into the Council was through Surrey Property Group where there was £14.3m in loan interest which provided a reasonable return. The other companies returns were relatively minor in comparison. The Leader stated that there needed to be a continual review of the various company investments. The £14.8m referred to in paragraph 5 of the cover report was effectively the gross interest that the Council received but this also included some of the loans going into the companies borrowed by the Council therefore the net return was less than £14.8m.
The Deputy Leader queried if there would be a review of current company targets and expectations in light of Local Government Reorganisation. The Strategic Finance Business Partner explained that the intention would be to have business planning sessions and strategic reviews of all the companies moving forward. The first session would be on 16 June. All the companies were currently being reviewed by the Shareholder Investment Panel. Companies would be asked to present their business plans to the Board with the Board having the opportunity to scrutinise each of the company strategies. The Deputy Leader stated that it would be useful to have some graphics and statistics explaining the performance of the companies. The Strategic Finance Business Partner suggested that moving forward the Board would have private sessions reviewing in depth performance of the companies including scrutinising business plans and strategies.
RESOLVED:
1. That the Board approves the Strategic Investment Board Annual Report for 2023/24. Reasons for Decisions:
· To inform the Council about the activities of SIB.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
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Exclusion of the Public
That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting during consideration of the following items of business on the grounds that they involve the likely disclosure of exempt information under the relevant paragraphs of Part 1 of Schedule 12A of the Act.
Additional documents: |
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STRATEGIC INVESTMENT BOARD ANNUAL REPORT, FINANCIAL YEAR 2023/24 - SCC INVESTMENT PROPERTY PORTFOLIO
The Board is asked to approve the Strategic Investment Board Annual Report for 2023/24.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
Additional documents: Decision: Decision as per Item 5. Minutes: There was a Part 2 discussion regarding the SCC investment property portfolio. A separate confidential minute was done for this item.
RESOLVED:
1. That the Board approves the Strategic Investment Board Annual Report for 2023/24. Reasons for Decisions:
· To inform the Council about the activities of SIB.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
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STRATEGIC INVESTMENT BOARD ANNUAL REPORT, FINANCIAL YEAR 2023/24 - PROPERTY SUBSIDIARIES
The Board is asked to approve the Strategic Investment Board Annual Report for 2023/24.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
Additional documents: Decision: Decision as per Item 5.
Minutes: There was a Part 2 discussion regarding the SCC property subsidiaries. A separate confidential minute was done for this item.
RESOLVED:
1. That the Board approves the Strategic Investment Board Annual Report for 2023/24. Reasons for Decisions:
· To inform the Council about the activities of SIB.
(The decisions on this item can be called-in by the Resources and Performance Select Committee)
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