Please note
that due to the national situation regarding the Covid-19 pandemic,
all future meetings of this committee will be taking place
informally and remotely until such time when they can be reconvened
in person. As a result the public will not be able to attend
however, all meeting papers, decision sheets and minutes will still
be available on the council’s website.
The Strategic Investment Board (SIB) monitors the
Council’s trading activity and its investments in companies
to ensure satisfactory performance and effective risk management.
The financial returns delivered by trading and investment helps to
ensure that we continue to deliver quality services to our
residents.
The Board
will:
(a) approve the allotment of
further shares in a Company (whether
to third party shareholders or the
Council)
(b) periodically evaluate
financial performance of a Company
(c) approve the
strategic direction of a Company
(c) approve the sale of
the Council’s investment in a company
(d) agree capital or revenue
investments of £1m and above proposed by a Company
(e) consider any
recommendation from Company Directors to cease
trading
(f)
report to the Council annually on trading activity
(g) consider and approve
business case proposals concerning the use of the Council’s
landholdings that contribute to the delivery of the Council’s
investment strategy
(h) approve all
property investment acquisitions or disposals (unless law requires
full council approval)
(i) approve
investment property asset management expenditure of £1m and
above
(j)
approve the provision of finance to the Council’s wholly
owned
property company, Halsey Garten Property
Ltd
(k)
approve
the strategic management of the overall portfolio to
ensure a balanced portfolio is maintained
(l)
approve non-property investments.