Agenda and minutes

Councillor Farzanna Mahmood

Councillor Sarita-Marie Rehman-Wall

None.

Of the meeting held on 23 October 2023, for confirmation.

The minutes of the meeting held on 23 October 2023 were confirmed as a true record and signed by the Chair.

Thomas Straw, Senior Accountant for Capital Programmes, to provide a verbal update.

Tom Straw, Senior Accountant (Capital Programmes), provided a verbal update regarding the City Council’s issuing of the Section 114 Notice and resulting restrictions will impact on the activity of the Trusts and Charities relating to this committee.

The issue has been discussed at length with Legal and Finance colleagues and it has been determined that the restrictions resulting from the issuing of the 114 Notice will not affect any of the Trusts or Charities under the supervision of the Committee. However, if Commissioners are appointed in the future, it will be at their discretion if they wish to take an oversight of activity.

Report of Corporate Director Finance and Resources

Tom Straw, Senior Accountant (Capital Programmes), presented the report detailing the 2022/23 Draft Outturn for Harvey Hadden and Highfield Trust, including any variances from the previous financial year, which is an integral part of the Council’s regular monitoring, forecasting and reporting system. The report enables the Committee to be aware of the financial position of the Trusts and allows any appropriate decisions or actions to be taken in the role as Trustee, and highlighted the following:

(a)  Highfields Park Trust draft outturn for 2022/23 and comparisons to 2021/22 are:

(b)  Thesignificantmovements since 2021/22 includethe following:

·  SupportServices– Decrease(£43,279), isdue to a reduction in chargefromtheCityCouncil foroperation of the site.

·  Receipt from PropertyActivity– Increase(£2,095,001),is to theTrust receiving apremiumin relation to in year propertyactivity, whichis being heldbythe Trustwithin its Dowryto be reinvested withinits charitableobjectives.

(c)  Harvey Hadden Trust draft outturn for 2022/23 and comparisons to 2021/22 are:

(d)  The significant movements since 2021/22 include the following:

·   Premises – Increase £12,343, is due to an increase in utility costs for example the electricity charge increasing by £9,558.

·   Support Services – Increase £25,366, is due to increased charged from the City Council for operation of the site.

·   Third Party Costs – Decrease (£20,617) due to one-off training costs incurred during 2021/22.

·   Grant Received from Nottingham City Council – Increase (£20,890), is to fund the increase of the Trusts in year deficit.

Resolved to

(1)  Note the outturn (pending independent review) for Harvey Hadden and

  Highfield Trusts 2022/23.

(2)  Delegate authority to the Chair of the Trusts and Charities Committee

to sign the accounts following completion of the Independent Examiners Review.

Report of the Director of Economic Development and Property

Bevis Mackie, Corporate Portfolio and Investment Manager, presented the report, setting out the key property events that have taken place or are proposed for the Bridge Estate portfolio since the date of the last meeting.

Resolved to

(1)  Note the updates in the report and Appendix 1a relating to the individual

  Bridge Estate properties.

(2)  Approve the recommended actions as set out in the Exempt Appendix 1b to the report.

To consider excluding the public from the meeting during consideration of the remaining item(s) in accordance with Section 100A(4) of the Local Government Act 1972 on the basis that, having regard to all the circumstances, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

The Committee agreed to exclude the public from the meeting during consideration of the remaining items in accordance with Section 100A(4) of the Local Government Act 1972 on the basis that having regard to all the circumstances, the public interest in maintaining the exemption outweighed the public interest in disclosing the information, as defined in Paragraph 3 of Part 1 of Schedule 12A to the Act.

Of the meeting held on 23 October 2023, for confirmation.

The exempt minutes of the meeting held on 18 December 2023 were confirmed as a true record and signed by the Chair.

Bevis Mackie, Corporate Portfolio and Investment Manager, presented the exempt appendix to the report which informs the Committee of the position of the Bridge Estate Portfolio since the last meeting.

Resolved to approve the recommendations set out in the exempt appendix, and added to at the meeting.