Gateshead Council Trading Companies Annual Update
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 2021/22 and where available activity in 2022/23. |
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RESOLVED - |
(i) |
That the report outlining company activity to date including the contribution to Council Thrive priorities as set out in appendix 1 and financial performance at appendices 2-4 to the report be noted. |
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(ii) |
That a review of each of the Council’s wholly owned trading companies to determine their future operations and requirements be approved. |
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(iii) |
That a further annual report be submitted to Cabinet covering the 2022-23 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 achievement of Thrive priorities through the Council’s trading companies. |
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(C) |
To assist effective financial and performance oversight and awareness of all Council activity, regardless of delivery model. |