Issue - meetings

That:

1)            Optalis Holdings Limited (‘OHL’) submits regular reports on the operational, financial and strategic performance of the companies in the Optalis group to WBC (Holdings) Limited and that a Wokingham appointed Director of OHL and the Managing Director of Optalis Limited attends the shareholder meetings of WBC (Holdings) Limited;

2)            the Group Operating Protocol (‘GOP’) between Wokingham Housing Limited, Loddon Homes Limited and Berrybrook Homes Limited and the Council shall be amended so that the Assistant Director of Housing and Place is recognised by the companies, WBC (Holdings) Limited and the Council as the Officer with authority to agree and manage the financial and operational requirements in service contracts between the Council and the housing companies;

3)            the Assistant Director of Housing and Place shall attend the shareholder meetings of WBC (Holdings) Limited to discharge his overall responsibility to Housing;

4)            the modifications to the GOP, form and frequency of the reports and attendance by OHL and the AD shall be determined by the Board of WBC (Holdings) Limited;

5)            the budget monitoring position for the month ending 31^st January 2019 be noted;

6)            the operational update for the period to 31 January 2019 be noted.

(Councillors Julian McGhee-Sumner, Philip Mirfin, Stuart Munro and Anthony Pollock declared personal interests in this item)

The Executive considered a report relating to proposed changes to the governance arrangements around decision making, transparency and information exchange between the Council and the Council’s wholly owned companies.  The report also included the budget monitoring position and operational update for the period to the end of January 2019.

In introducing the report the Executive Member for Finance highlighted the changes that were being proposed in relation to reporting lines which would see Optalis report into WBC Holdings Ltd.  Councillor Pollock also drew Members’ attention to the proposed changes to the structure of the Boards of the Housing Companies which would make them more efficient.

The Leader of Council stated that having Optalis report to the Holding Company would strengthen the governance of the company and provide greater oversight.

RESOLVED that:

1)            Optalis Holdings Limited (‘OHL’) submits regular reports on the operational, financial and strategic performance of the companies in the Optalis group to WBC (Holdings) Limited and that a Wokingham appointed Director of OHL and the Managing Director of Optalis Limited attends the shareholder meetings of WBC (Holdings) Limited;

2)            the Group Operating Protocol (‘GOP’) between Wokingham Housing Limited, Loddon Homes Limited and Berrybrook Homes Limited and the Council shall be amended so that the Assistant Director of Housing and Place is recognised by the companies, WBC (Holdings) Limited and the Council as the Officer with authority to agree and manage the financial and operational requirements in service contracts between the Council and the housing companies;

3)            the Assistant Director of Housing and Place shall attend the shareholder meetings of WBC (Holdings) Limited to discharge his overall responsibility to Housing;

4)            the modifications to the GOP, form and frequency of the reports and attendance by OHL and the AD shall be determined by the Board of WBC (Holdings) Limited;

5)            the budget monitoring position for the month ending 31^st January 2019 be noted;

6)            the operational update for the period to 31 January 2019 be noted.