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Shareholder Committee 15 June 2022
Report of the Chief Finance Officer
YPO Ltd Finance Update
Purpose of Report
1. To consider a report from YPO outlining the latest financial performance.
Recommendations
2. Note the report from YPO and YPO Procurement Holdings Ltd attached as an annex to this report.
Reason: To ensure the Council is updated on the financial performance of YPO.
Background and analysis
3. YPO (formerly known as the Yorkshire Purchasing Organisation) was established as a joint committee of Local Authorities in 1974 and the Council is one of 13 founder member authorities.
4. YPO Procurement Holdings Ltd was incorporated in 2014 as a subsidiary of
YPO and was formed so that YPO would be able to transact with the private sector for the first time and to open up new markets, but also to enable it to act in a more commercial fashion, with a governance structure more aligned to a commercial business than a local authority.
5. The activity of both companies is regularly reported to officers through the Strategic Officers Group which is attended by the Chief Finance Officer on behalf of the Council. There are also elected member representatives from the Council on the YPO Management Committee and the YPO Procurement
Holdings Ltd Board.
6. The Council is one of 13 founder members and therefore does not have sole control over the company, but works in partnership with YPO and the other 12 Councils.
7. Annex 1 is a report from the Managing Director of YPO which provides a brief update on performance for the company. The report also includes further information around issues requested by the Shareholder Committee.
Risk Management
8. There are no specific risk issues arising from this report.
Implications
9. There are no financial, legal, HR, equalities, crime and disorder, information technology, property or other implications arising from this report.
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Author: |
Chief Officer responsible for the report: |
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Patrick Looker Head of Service Finance |
Debbie Mitchell Chief Finance Officer |
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Report Approved |
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Date |
07.6.22. |
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Wards Affected: All |
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For further information please contact the author of the report |
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Annexes
Annex 1 – YPO Financial Performance Review and General Update