Agenda and minutes

Resolved –

That the Minutes of the meeting held on 14 February 2023, having been printed and circulated, be confirmed as read and signed by the Chair as a correct record.

There were no declarations of interest.

Members of the public may ask questions or make statements at this meeting if they have given notice to Melanie Carr of Democratic and Scrutiny Services and supplied the text (contact details below) by midday on Thursday 16 January 2020, three working days before the day of the meeting.  Each speaker should limit themselves to 3 minutes on any item.  Members of the public who have given notice will be invited to speak:-

·          at this point in the meeting if their questions/statements relate to matters which are not otherwise on the Agenda (subject to an overall time limit of 30 minutes);

·          when the relevant Agenda item is being considered if they wish to speak on a matter which is on the Agenda for this meeting.

If you are exercising your right to speak at this meeting, but do not wish to be recorded, p  ...  view the full agenda text for item 19.

Resolved –

Given that no discussion was required in relation to the exempt information contained within Appendices 1 & 2 of agenda item 6 – Border to Coast Governance Arrangements, it was agreed the Shareholder Committee would not enter into private session for that agenda item.

Recommendation:  That the Shareholder Committee notes the update.

Considered - A report of the Assistant Director for Strategic Resources, providing a Quarter 3 financial and performance update for 2022/23 for the companies that make up the Brierley Group.

Vicki Dixon, Assistant Director for Strategic Resources introduced the report, providing an overview of performance and highlighting the third quarter achievements and challenges for the individual companies.  She highlighted the strong shareholder value of £10.42m in 2022/23, drew members’ attention to the outturn financial position detailed in the table at paragraph 4.1 of the report, and the ongoing issues around recruitment and retention, and cost control.

Richard Flinton confirmed:

·          The challenges in recruitment and the difficult training environments were as a result of Covid-19; 

·          Funding for schools had been tight for some time – work was ongoing to encourage the uptake of school meals and free school meals

·          House prices were steadily increasing

Specifically in regard to Brierley Homes, Vicki Dixon confirmed:

·          The operating model was based on the use of land owned by the Authority;

·          A positive position was expected in year two with two new sites due to start;

·          There had already been a number of off-plan reservations;

·          An exact start date for the Stokesley site would be confirmed after the meeting;

·          Build costs were in reasonably good order given the inflationary rises;

·          The profitability of the company was out performing the business case.

Members thanked officers for the update, and it was

Resolved – That the Brierley Group Quarter 3 financial and performance update for 2022/23 be noted.

Recommendations:

The Shareholder Committee are asked to approve:

i.       The updated Border to Coast Pensions Partnership Limited governance documents, being the Inter-Authority Agreement

ii.      The Shareholder Agreement and the Articles of Association, appended to the report

The Shareholder Committee is also asked to delegate:

iii.     The Council entering into the two agreements to the Assistant Chief Executive (Legal and Democratic Services).

iv.     Nomination of an appropriate shareholder representative to the Council’s Chief Executive Officer

Considered – A report of the Corporate Director – Strategic Resources describing the background of the Council’s part-ownership of Border to Coast Pensions Partnership Limited, a company created to manage the investments of the North Yorkshire Pension Fund, and seeking approval of the updated governance documents for the company in Appendices 1 to 3.

Gary Fielding, Corporate Director – Strategic Resources introduced the report and provided an overview of the steps taken to review the shareholder governance documents.  He confirmed there were no issues arising from that review, and that the number of shareholders had been reduced from 12 to 11.

Finally, he noted that the Authority’s existing shareholder representative would no longer be a Councillor as from 1^st April 2023 and therefore a new representative needed nominating.

Members noted the report and its Appendices, and it was

Resolved – That:

i.       The following documents be approved:

·        The updated Border to Coast Pensions Partnership Limited governance documents, being the Inter-Authority Agreement;

·        The Shareholder Agreement and the Articles of Association;

ii.      The Council entering into the two agreements be delegated to the Assistant Chief Executive (Legal and Democratic Services);

iii.     Nomination of an appropriate shareholder representative be delegated to the Council’s Chief Executive Officer;

Purpose of the Report: To consider and develop the Work Programme for the Shareholder Committee

Members considered and endorsed the work programme for the Committee for the remainder of 2022/23.