Agenda and minutes

There were no disclosable pecuniary interests.

To agree the minutes of the meeting held on 28^th September 2022.

The minutes of the meeting held on 28^th September 2022 were agreed and signed as a true record.  There were no matters arising.

To consider whether to exclude the press and public for the private item(s) of business for the reasons shown in the report.

RESOLVED that, the Coventry Shareholder Committee agrees to exclude the press and public under Sections 100(A)(4) of the Local Government Act 1972 relating to the private report in minute 13 below headed ‘Business Planning Cycle for 2023-24 for the Coventry Municipal Holdings Group’ on the grounds that the report involves the likely disclosure of information as defined in Paragraph 3 of Schedule 12A of the Act, as it contains information relating to the financial affairs of a particular person (including the authority holding that information) and in all circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Report of the Managing Director for Coventry Municipal Holdings Limited

The Coventry Shareholder Committee received a report of the Managing Director for Coventry Municipal Holdings Limited, which sent out the business plans for Coventry Municipal Holdings and its subsidiaries for the year ahead, ending 31^st March 2024.

A corresponding private report detailing confidential matters was also submitted for consideration (Minute 13 below refers).

Coventry Municipal Holdings (CMH) was incorporated in November 2021.  The Group Governance Agreement requires CMH, along with its subsidiaries, to present their Business Plans for the year ahead.  The report submitted therefore provided the Business Plans for the year ending 31^st March 2024. 

Each of the companies focused on strengthening their underlying business and building on the existing foundations they had in place, growing their customer base, maintaining the quality of service delivery while managing the increasing cost pressures they were each facing.  They each continued to place energy into their strategic development plans, which target increasing the level of financial return that can be provided back to the Shareholder, year on year. 

The report indicated that, specifically for 2023/24:

·  Tom White would be focussed on the delivery of the Material Recycling Facility (MRF) development approved within the 2022/23 business plan, while maintaining their revenue position during the construction phase by using 3^rd party recycling processors.

·  Tom White would mobilise their haulage services, intended initially to service the operations of Sherbourne Recycling Ltd, the Councils (and others) municipal material recycling company.

·  Coombe Abbey Park Limited (CAPL) would face a challenging year ahead with continued pressure n the hospitality sector and customers with pressure on their disposable incomes and will continue to make prudent management decisions to maintain financial performance.

·  CAPL (an its subsidiary No Ordinary Hospitality) would continue to seek further management contracts to diversify its core business and provide market resilience.

·  CAPL would also conclude the long term site development plan for the hotel during 2023/24 that would address maintenance issues and offer a significantly expanded customer offer.

·  Coventry Technical Resources continued to focus on providing resourcing solutions for the Council. 

The report also set out proposals to revise the timescales for approval of the Business plans for future years to make them more realistic and achievable for the trading entities, CMH and the Shareholder Committee.  Table 1 of the report set out the current dates in line with the Group Governance Agreement and the new proposed dates.  The Group Governance Agreement would be updated to reflect the new timescales.

RESOLVED that, the Coventry Shareholder Committee approve:

1.  The business plans for Coventry Municipal Holdings Limited.

2.  The business plan for Coombe Abby Park Limited Group.

3.  The business plan for Tom White Waste Group.

4.  The business plan for Coventry Technical Resources Limited.

5.  The Group budget as set out in the private report for Coventry Municipal Holding Limited and its subsidiaries.

6.  The updated timetable at 2.12 of the report for the approval of the Business Plans and update the Group Governance Agreement to reflect the new timelines.

There were no other items of public business.

Report of the Managing Director for Coventry Municipal Holdings Limited

Further to Minute 11 above, the Coventry Shareholder Committee considered a private report of the Managing Director for Coventry Municipal Holdings Limited, which set out the commercially confidential matters relating to the business plans for Coventry Municipal Holdings and its subsidiaries for the year ahead, ending 31^st March 2024.

RESOLVED that, the Coventry Shareholder Committee approve:

1.  The business plans for Coventry Municipal Holdings Limited.

2.  The business plan for Coombe Abby Park Limited Group.

3.  The business plan for Tom White Waste Group.

4.  The business plan for Coventry Technical Resources Limited.

5.  The Group budget as set out in Table 1 for Coventry Municipal Holding Limited and its subsidiaries.

6.  The updated timetable at 2.12 of the report for the approval of the Business Plans and update the Group Governance Agreement to reflect the new timelines.

There were no other items of private business.