Issue - meetings

That:

1)        the Budget monitoring position for the month ending 30 November 2017 be noted;

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

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

The Executive considered a report which provided the Budget monitoring position of the Council owned companies and an operational update for the period ending 30 November 2017.

The Executive Member for Finance introduced the report and highlighted a number of areas including the financial performance of the companies and the success of the housing subsidiaries. It was anticipated that Wokingham Housing Ltd. would deliver, year on year, around 50-70 homes which would generate an annual profit of around £1m per annum for the Council.

Charlotte Haitham Taylor announced that Keith Baker had resigned from his role as a Non-Executive Director for Optalis and that the Optalis Board had appointed Councillor Philip Mirfin to that Non-Executive Director role.

In response to a question from Councillor Baker, Councillor McGhee-Sumner confirmed that tenants who had moved into the new Phoenix Avenue units were very happy with the quality of their accommodation.

RESOLVED That:

1)           the Budget monitoring position for the month ending 30 November 2017 be noted;

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