Agenda and minutes

Sutton Shareholdings Board
Thursday, 22nd February, 2018 6.30 pm

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

Contact: Fiona Bywaters, Head of Committee and Management Support (Interim)  Tel: 020 8770 4990 | Email:  committeeservices@sutton.gov.uk

Link: Audio Recording

Items
No. Item

29.

Apologies for absence

Minutes:

Apologies for absence were received from Councillor Daniel Sangster.

30.

Declarations of Interest

Minutes:

No declarations of interest were made.

31.

Any Items the Chair deems urgent

Minutes:

No urgent items were raised.

32.

Minutes pdf icon PDF 116 KB

To confirm as a correct record the minutes of the meeting held on 6 December 2017.

Minutes:

The minutes of the meeting held on 06 December 2017 were approved as a correct record and signed by the Chair.

33.

SDEN Performance Review pdf icon PDF 144 KB

This report is presented for noting the update contained in the Sutton Decentralised Energy Network Performance Report and the unamended Risk Register.

Additional documents:

Minutes:

Mandy Cherrington, Managing Director of SDEN, briefly presented the report.

 

Members sought clarification on the Network Rail / Eneteq meeting and Phase 2 activity, as outlined in Appendix A.

 

RESOLVED: that

1.    The performance update contained in the Sutton Decentralised Energy Network Performance Report in Appendix A be noted.

2.    The unamended Sutton Decentralised Energy Network Risk Register in Appendix B be noted.

34.

Sutton Living – Performance Annual Review and Risk Register pdf icon PDF 104 KB

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

Minutes:

Mike Kirk, Managing Director of Sutton Living, presented the report. Members enquired as to the requirements of affordable housing and the performance update in respect of The Old Rectory.

 

RESOLVED: that the performance update set out in section 4 and actions proposed to deliver projects by the company be noted.

35.

Sutton Living - Business Plan Annual Review 2018-2019 pdf icon PDF 109 KB

This report presents a review of the Sutton Living Business Plan for 2018/19.

Additional documents:

Minutes:

Mike Kirk, Managing Director of Sutton Living, presented the report. Members discussed the alignment of values and relationship between Council and company, as well as the objectives within the business plan.

 

Further mention was given to the future recruitment of a Non Executive Director and the motivations behind this, such as bringing in commercial expertise.

 

RESOLVED: that the review and the goals set out for 2018/19 in the attached Appendix 1 and exempt annexes A sites and B risk register be noted.

36.

Task and Finish Group: Governance Arrangements of LBS Companies pdf icon PDF 118 KB

This report details the need for a Task and Finish Group to undertake a review of the governance arrangements of London Borough of Sutton companies where the Council is a shareholder. The Task and Finish Group will need to develop a draft Code of Practice for the governance of council interests in companies for approval by the Sutton Shareholdings Board.

Minutes:

Jessica Crowe, Assistant Director - Customers, Commissioning and Governance, briefly presented the report.

 

Members welcomed the establishment of the group and suggested its membership replicate that of the Shareholdings Board.

 

RESOLVED: that

1.    A task and finish group be established to review the governance arrangements of London Borough of Sutton companies where the Council is a shareholder and draft a Code of Practice for the governance of council interests in companies.

2.    The task and finish group will meet on 2 to 3 occasions between 23 February 2018 and 20 April 2018.

3.    The task and finish group will report its outcomes to a future meeting of the Sutton Shareholdings Board.