Gateshead Council Trading Companies Annual Update
Report of the Strategic Director, Resources and Digital
Minutes:
|
Consideration has been given to an update on the current trading activity undertaken through subsidiaries wholly owned by the Council for the period 2022/23 and, where available, activity in 2023/24. |
||
|
|
|
|
|
RESOLVED - |
(i) |
That the report outlining company activity to date including the contribution to Council Thrive priorities at appendix 1 and financial performance at appendices 2-4 to the report be noted. |
|
|
|
|
|
|
(ii) |
That each of the Council’s wholly owned trading companies be subject to a review to determine their future operations and requirements. |
|
|
|
|
|
|
(iii) |
That a further annual report be submitted to Cabinet in due course, covering the 2023-24 performance of the Council’s wholly owned trading companies. |
|
|
|
|
|
The above decisions have been taken for the following reasons: |
||
|
|
|
|
|
|
(A) |
To contribute to the sound governance, operational and financial management of the Council’s wholly owned subsidiary companies. |
|
|
|
|
|
|
(B) |
To support achievement of Thrive priorities through the Council’s trading companies. |
|
|
|
|
|
|
(C) |
To assist effective financial and performance oversight and awareness of all Council activity, regardless of delivery model. |