Agenda and draft minutes

Shareholder Sub-Committee - Tuesday, 11th February, 2025 1.30 pm

Venue: The Ceres Suite, Worksop Town Hall, S80 2AH. View directions

Contact: Simon Johnson 

Items
No. Item

1.

Apologies for absence

Minutes:

There were no apologies for absence.

2.

Declarations of Interest by Members and Officers

2a

Members

Minutes:

There were no Declarations of Interest by Members.

2b

Officers

Minutes:

There were no Declarations of Interest by Officers.

3.

Minutes

None (First meeting of the Shareholder Sub-Committee)

Minutes:

There were no Minutes to approve with this meeting being the first of the Shareholder Sub-Committee.

4.

Outstanding Minutes List

None (First meeting of the Shareholder Sub-Committee)

Minutes:

There was no Outstanding Minutes List to receive with this meeting being the first of the Shareholder Sub-Committee.

5.

Report(s) of the Director of Corporate Resources

5a

Terms of Reference and Shareholder Agreement pdf icon PDF 70 KB

Additional documents:

Minutes:

Members received the Terms of Reference for the Shareholder Sub-Committee and the Shareholder Agreement, between the Council and S80 Partnership Ltd. (‘S80’) for consideration and approval.

 

Options, Risks and Reasons for Management Actions

 

Members could choose not to approve the Terms of Reference and/or Shareholder Agreement.

 

Resolved that:

 

Members approved the Terms of Reference and Shareholder Agreement between S80 Partnership Ltd. and the Council.

5b

Risk Management pdf icon PDF 77 KB

Additional documents:

Minutes:

At 1:44pm, Councillor D. Bamford arrived at the meeting during discussion of this item.

 

Members received an update report, on the current level of assurance for S80 Partnership Ltd., that can be provided against each of the identified risks.

 

Three risks have been identified to date:

·         The anticipated income cannot be fully achieved through the trading company.

·         S80 Partnership Ltd. (‘S80’) fails or is not as financially successful as forecast.

·         The Council’s governance arrangements are inadequate to control and monitor S80’s financial and operational performance.

 

In discussion of this item, Members agreed that a monthly update for the accounts of S80 Partnership Ltd may be made and received on request.

 

Options, Risks and Reasons for Management Actions

 

This report is provided to Members for information and consideration. Members may wish to consider other perceived risks as deemed appropriate.

 

Resolved that:

 

Members noted the progress of actions identified within the Risk Register.

5c

Performance Indicators pdf icon PDF 70 KB

Additional documents:

Minutes:

Members received a report on the proposed performance indicators for S80 Partnership Ltd.

 

Options, Risks and Reasons for Management Actions

 

The proposed performance indicators are provided to Members for noting.

 

Resolved that:

 

1.    Members received and approved the performance indicators for S80 Partnership Ltd.

2.    Members requested that an update to be provided to the next Sub-committee in June 2025.

5d

Verbal Update - Review of Business Objectives

Minutes:

Members received a verbal update from the Director of Corporate Resources (Michael Wildman), on the review of Business Objectives identified for S80 Partnership Ltd.

 

Resolved that:

 

Members noted the verbal update.

5e

Verbal Update - Review of Service Level Agreements

Minutes:

Members received a verbal update from the Director of Corporate Resources (Michael Wildman), on the review of the Service Level Agreement for S80 Partnership Ltd.

 

Resolved that:

 

Members noted the verbal update.

6.

Local Government (Access to Information) Act 1985

Minutes:

In accordance with Part 1 of Schedule 12A of the Local Government Act 1972 and after considering the public interest test as set out by the Officer in the body of the report, Members agreed that the following item of business involved the likely disclosure of exempt information as defined in Paragraph 3 and therefore, in accordance with Section 100A of the Act, the press and public be excluded from the meeting:

 

Agenda Item No. 6(a) (Paragraph 3)

- Five-Year Business Plan and New Initiatives and Business Cases

7.

Report(s) of the Director of Corporate Resources

7a

Five-Year Business Plan and New Initiatives and Business Cases

Minutes:

Members received the Five-Year Business Plan and a report on new initiatives and business cases to be considered by S80 Partnership Ltd.

 

In discussion of this item, Members requested and agreed that an updated business plan would be presented to the sub-committee every six months, with commentary on any risks to delivery of the financial profiles, in the business plan to be provided in the quarterly risk register updates.

 

Options, Risks and Reasons for Management Actions

 

The five-year business plan is provided for noting and comments.

 

The business case is presented to Members for consideration.

 

Resolved that:

 

1.    Members received and noted the Five-Year Business Plan for S80 Partnership Ltd.

2.    Members agreed to provide the necessary review and challenge of the business case, for the management of council-owned industrial units, shops and miscellaneous properties.

8.

Any other business which the Chair considers to be urgent

Date of next meeting: 24th June 2025

Minutes:

As there was no other urgent business, the Chair closed the meeting.