Gateshead Council Trading Companies Operational and Financial Performance 2019/20
Report of the Strategic Director, Resources and Digital
Minutes:
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Consideration has been given to an update on the current trading activity undertaken through subsidiaries wholly owned by the Council for the period 2019/20. |
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RESOLVED - |
(i) |
That company activity to date including the contribution to Council Thrive priorities is noted. |
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(ii) |
That the entering into a settlement with Gateshead Trading Company for the additional costs in respect of the former Derwentside APU (Woodhouse Mews) housing development, as set out in the report be approved. |
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(iii) |
That a further annual report be submitted to Cabinet in 2021 covering the 2020-21 performance of the Council’s wholly owned trading companies. |
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The above decisions have been made for the following reasons: |
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(A) |
To contribute to the sound governance, operational and financial management of the Council’s wholly owned subsidiary companies. |
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(B) |
To support the delivery of homes in Gateshead, including affordable, which contribute to achievement of Thrive priorities. |
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(C) |
To assist effective financial and performance oversight and awareness of all Council activity, regardless of delivery model. |