Shareholder Committee Report of the Head of HR	6 September 2021

City of York Trading Update

Purpose of Report

1. To consider the City of York Trading Ltd’s Performance Update Sept 2021 as provided in the confidential annex.

2. The performance update is private due to the commercial sensitives.

Recommendations

3. Note the reports from City of York’s Trading Ltd attached at annexe A to this report.

Reason: To ensure the Council is updated on the performance of City of York Trading Ltd. 

Background and analysis

4. City of York Trading Ltd (trading as WorkwithYork, WorkwithSchools and WorkwithYorkshire) was formed in 2011 with the intention of supplying temporary staff to CYC, to schools (in and around the York area) and to other outside organisations.  

5. Through City of York Trading Ltd, CYC makes a saving compared to the cost of agency staff on the open market.

6. In addition the payment of an annual dividend from the Company’s profits is designed to assist CYC’s financial position. 

Key Company Matters 2021/22:-

7. The Company’s Board of Directors currently comprises :-

· Karen Bull (Managing Director)

        with Non-Executive Directors

· Cllr Andrew Waller (Chair)

· Cllr Kallum Taylor

· Cllr Simon Daubeney 

· John Dobson

· Oliver Wright

8. The Company’s Management Accountant prepares financial reports and the Managing Director prepares Performance Reports on a monthly basis.  The Board Meetings are held monthly to coincide with this reporting.

9. The Company’s accounts for 2021/22 are currently being audited. The Company’s financial performance 2021/22 year-to-date is positive with both turnover and profit above budget. Further information is provided to the Shareholder Committee within the Performance Update Sept 2021 (Annex A).

10. Key Performance Indicators are monitored on weekly and monthly basis.

11. Marketing activities continue, including utilisation of the Company’s websites and social media channels.

Risk Management

12. There are no specific risk issues arising from this report.

Implications

13. There are no financial, legal, HR, equalities, crime and disorder, information technology, property or other implications arising from this report.

Author:	Chief Officer responsible for the report:
Trudy Forster, Head of HR & OD  Tel: 01904 553984 E: trudy.forster@york.gov.uk Karen Bull, MD CYT Ltd	Debbie Mitchell Chief Finance Officer
	Report Approved	x	Date	20/08/2021
Wards Affected:  All
For further information please contact the author of the report

Annex A – CYT Performance Update Sept 2021