Issue - meetings

That:

1)        the budget monitoring position for the month ending 31 March 2017 be noted;

2)         the operational update for the period to 30 April 2017 be noted.

(Councillors David Lee and Stuart Munro declared personal interests in this item)

The Executive considered a report setting out the budget monitoring position for the Council Owned Companies for the month ending 31 March 2017 and an operation update for the period to 30 April 2017.

The Deputy Leader drew Members’ attention to the consolidated results of Wokingham Housing Ltd which although they showed large losses this was due to the fact that the houses had not yet been built.  Councillor Lee also highlighted the progress of the Phoenix Avenue project and reported that the first 22 houses had been handed over as complete and the bulk of those had already been let.

The Leader informed the meeting that the July report would contain proposals to change some of the non-Executive directors on the companies which would then need WBC Holdings Company Board approval.

RESOLVED that:

1)        the budget monitoring position for the month ending 31 March 2017 be noted;

2)         the operational update for the period to 30 April 2017 be noted.