Shareholder Committee	19 March 2024
Report of the Chief Finance Officer

Yorwaste Ltd Finance Update

Purpose of Report    

1. To consider reports from Yorwaste providing a trading update for the 2023/24 financial year attached as Annex 1, as well as the Business Plan for 2024/25 attached as Confidential Annex 2.

2. The Yorwaste Business Plan is exempt under Section 100I and paragraphs 3 and 4 of Schedule 12A of the 1972 Local Government Act due to commercial sensitivities.

Recommendations

3. Note the reports from Yorwaste Ltd attached at Annex 1 and Confidential Annex 2 to this report.

4. Approve the Yorwaste Business Plan for 2024/25 attached as Confidential Annex 2.

Reason: to ensure the Council is updated on the financial performance of Yorwaste Ltd.

Background and analysis

5. Yorwaste was established as a Local Authority Waste Disposal Company owned fully by North Yorkshire County Council in 1991 to manage the council’s landfill sites. In 1996 as part of Local Government Review, the Council of the City of York (the “Council”) became a 22.27% shareholder of the company. The company provides services to York relating to Transfer Stations, processing recyclates, garden waste and management and transport of waste at the two Household Waste Sites. They also provide similar services within North Yorkshire County Council and from 2023/24 the North Yorkshire Council. 

6. The Yorwaste board is made up of council representatives of the two authorities and also independent board members. The representatives from City of York Council are currently Cllr R. Melly and the Corporate Director of Place, Neil Ferris. The company is a Teckal company whereby over 80% of its revenues come from its local authority owners.

7. The latest trading update for the company is shown at Annex 1.

8. Confidential Annex 2 gives forecast figures for the company from the latest business plan for 2024/25

Risk Management

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

Implications

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

11. With regards to the approval of the CYT Business Plan, under Article 12.4.1 of the CYC Constitution, the Shareholder Committee has been delegated authority to approve this document.

12. Article 14.6 of the Yorwaste Articles of Association published at Companies House state the Board shall not without the prior written approval of all shareholders proceed with any reserved matter. Schedule 1 of the Articles of Association confirms that adopting the Business Plan in respect of each financial year is such a reserved matter.

Author:	Chief Officer responsible for the report:
Patrick Looker Head of Service Finance Email patrick.looker@york.gov.uk	Debbie Mitchell Chief Finance Officer
	Report Approved	x	Date	8^th March 2024
Wards Affected:  All
For further information please contact the author of the report

Annex 1 – Yorwaste Headline Performance Review.

Confidential Annex 2 – Business Plan (Extract)