Agenda and draft minutes

Resolved to appoint Councillor Salma Mumtaz as Vice-Chair for the remainder of the municipal year 2024-25.

Councillor Zafra Khan – personal

Councillor Farzanna Mahmood – unwell

Councillor Sana Nasir - personal

Councillor Sarita-Marie Rehman-Wall – personal

None.

Minutes of the meeting held of 24 June 2024, for confirmation

The minutes of the meeting held on 24 June 2024 were confirmed as a correct record and signed by the Chair.

Report of the Corporate Director for Finance and Resources

Tom Straw, Senior Accountant (Capital programmes), presented the report which contains details of two letters that are required to be signed by the Chair as part of the external audit and the draft 2023-24 outturn for the Bridge Estate Trust (financial accounts enclosed), detailing any variance from 2022-23.

Variance between 2023-24 and 2022-23 is mostly on rental income and energy. The difference on rental income is largely due to movements in loss allowances (i.e. bad debt), and once this technical entry is excluded from both financial years the variance between the financial years reduces to £0.091m. Variance on energy is due to a number of invoices from Nottingham City Council that date back a number of years. While a full investigation is undertaken as to whether the amounts are due, the full amount is expected to reduce between draft and final following the review.

Resolved to

(1)  approve the Chair of the Committee to sign the following letters to external audit:
· Letter of Engagement
· Audit Planning Letter

(2)  note the draft financial outturn for the Bridge Estate Trust;

(3)  delegate authority to the Chair of the Committee to sign the audited accounts on behalf of the Trust, noting that the final version of the accounts will be circulated outside of the meeting to the Committee prior to signing, and the formally circulated at a later Committee meeting.

Reporrt of the Director of Economic Development and Property

Bevis Mackie, Corporate Portfolio and Investment Manager, presented the report informing the Committee of the position of the Bridge Estate Portfolio since the last meeting with arrangements to be confirmed with the committee for a tour of the property portfolio.

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.

Exempt minutes of the meeting held of 24 June 2024, for confirmation

The exempt minutes of the meeting held on 24 June 2024 were confirmed as a correct record and signed by the Chair.

Tom Straw, Senior Accountant (Capital programmes), presented the exempt appendix which was noted by the Committee.

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