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Shareholder Committee Report of the Head of HR and OD |
13 March 2023 |
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City of York Trading Ltd Update
Purpose of Report
1. To consider the City of York Trading Ltd Performance Update March 2023 provided as confidential Annex A. The performance update is private due to the commercial sensitivities.
Recommendations
2. Note the confidential Performance Update from City of York’s Trading Ltd attached at Annex A to this report.
Reason: To ensure the Council is updated on the performance of City of York Trading Ltd.
Background and analysis
3. City of York Trading Ltd (trading as WorkwithYork, WorkwithSchools and WorkwithYorkshire “the Company”) was formed in 2011 with the intention of supplying temporary staff to the Council, to local schools and permanent and temporary staff to other outside organisations.
4. Through the Company, the Council makes a cost saving compared to the cost of agency staff on the open market, and is also able to secure staff to cover hard-to-fill roles where permanent recruitment is challenging.
5. In addition, the payment of an annual dividend from the Company’s overall profits is designed to assist the Council’s financial position.
Key Company Matters 2022/23:-
6. The Company’s Board of Directors is unchanged since 30 October 2022 report to Shareholders and continues to meet monthly to consider monthly financial and performance reports and discuss strategy going forward.
7. The Company’s final budget for 2023/24 has not been put before the Board of Directors, though discussions have taken place regarding the matters to take into consideration in setting the budget, and this approval will take place at the next Board Meeting on 24 March.
8. The Company’s current contract with the Council ends on 31 August 2023, ahead of renewal the Company has sent the Council a draft contract for consideration.
9. Key Performance Indicators are monitored on a weekly and monthly basis.
10. Marketing activities continue, including utilisation of the Company’s websites and social media channels.
Risk Management
11. There are no specific risk issues arising from this report.
Implications
12. 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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Karen Bull, MD CYT Ltd
Helen Whiting Head of HR and OD |
Debbie Mitchell Chief Finance Officer |
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Report Approved |
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Date |
1 March 2023 |
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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 A– CYT Performance Update March 2023 CONFIDENTIAL