Agenda and minutes

Sutton Shareholdings Board
Wednesday, 22nd June, 2016 6.30 pm

Venue: Civic Offices, St Nicholas Way, Sutton SM1 1EA

Contact: Alexa Coates, Head of Committee and Management Support  Tel: 020 8770 5094 | Email:  alexa.coates@sutton.gov.uk

Items
No. Item

1.

Apologies for absence

Minutes:

There were no apologies for absence.

2.

Declarations of Interest

Minutes:

There were no declarations of interest.

3.

Minutes pdf icon PDF 110 KB

To confirm as a correct record the minutes of the meeting held on 09 May 2016.

Minutes:

The minutes of the meeting held on 9 May 2016 were approved as a correct record and signed by the Chair, subject to an amendment to minute 32. SDEN Performance Update as follows:

 

“It was highlighted that the principle purpose of SDEN was to realise the Council’s sustainability ambitions. It had been agreed that the Phase 1 should pay its way, but the potential to generate income, more likely at Phase 2, was an added incentive.”

 

4.

Any Items the Chair deems urgent

Minutes:

There were no urgent items.

5.

SDEN Performance Update pdf icon PDF 149 KB

This report presents for noting the update contained in the Sutton Decentralised Energy Network Performance Report and presents for noting the Risk Register for Sutton Decentralised Energy Network Limited.

 

Additional documents:

Minutes:

The Head of Economic Renewal and Regeneration introduced the report and updated members that www.sden.org.uk was now live.

 

Resolved

 

1.    That the performance update contained in the Sutton Decentralised Energy Network Performance Report as set out at Appendix A to the report be noted.

 

2.    That the un-amended Sutton Decentralised Energy Network Risk Register as set out at Appendix B (exempt) to the report be noted.

6.

Sutton Living Performance Update pdf icon PDF 143 KB

This report presents for comment the performance update for Sutton Living Limited.

 

Minutes:

The Executive Head of Housing and Regeneration introduced the report. Members discussed the finance and loan arrangements, the re-charge arrangements for consultancy tasks being completed by the Council and the reasons for the Council retaining the freehold interest at the Lodge Place site.

 

Resolved

 

That the performance update set out in section 3 of the report be noted.

 

 

 

7.

Appointment of External Auditors - Opportunity Sutton Limited pdf icon PDF 153 KB

This report seeks approval to appoint the external auditors for Opportunity Sutton Limited (OSL), including the two subsidiary companies Sutton Living Limited (SLL) & Sutton Decentralised Energy Network (SDEN), and Encompass (the Local Authority Trading Company - LATC).

 

Minutes:

The Strategic Director of Environment, Housing and Regeneration introduced the report.

 

Resolved

 

That Turpin Barker Armstrong be appointed to provide Audit & Corporation Tax Services and to prepare the accounts for each Company for the first year of operation after which this will be reviewed.

 

8.

Encompass LATC Ltd Company Document pdf icon PDF 134 KB

This report presents for approval the key legal documents needed to establish Encompass LATC Ltd. 

Additional documents:

Minutes:

The Housing Needs, Homelessness Prevention & Support Brokerage Service Manager introduced the report. Members discussed the need to be clear about the responsibilities of the company in its relationships with the Council, for example in responding to Freedom of Information requests.

 

Members asked questions about the detail of the Shareholder Agreement and Commissioning Agreement, relating to Teckal requirements, remuneration rates of Executive Directors and services provided by the Council to the company.

 

Officers advised that the detail of the agreements could be finalised by the Strategic Director, with an appropriate delegation from the committee.

 

Resolved

 

1.    That the Articles of Association, the Shareholder Agreement and the Commissioning Agreement be agreed as set out at Appendices A, B and C to the report.

 

2.    That authority be delegated to the Strategic Director, Environment, Housing and Regeneration in consultation with the Chair to finalise the documents before submitting to Companies House.