Background
The
Executive approved new governance arrangements for Council
companies at its meeting in June 2016. These involved establishing
a new Shareholder Committee whose terms of reference allow it
to:
·
Act as owners/joint owners of the company;
·
Sign off Strategic business plans;
·
Monitor performance and financial delivery against strategic
business plans;
·
Exercise decision making over reserved matters;
·
Determine the remuneration of Directors and any senior managers as
identified in the specific scheme of delegation and agreeing any
performance related bonus payments to staff;
·
Make recommendations to Executive for any investment in/asset
transfers to or lending to companies;
·
Delegating specific functions to Officers of the Council to
increase commercial flexibility.
Membership
The
Committee is a Committee of the Executive and the same rules of
procedure apply to its meetings as apply to the Executive. Voting
Members therefore need to be members of the Executive.
In
line with the arrangements for Executive meetings the Leaders of
each of the opposition groups or their nominated substitute will be
invited to attend meetings and be given full rights to participate
in meetings although they will not be entitled to vote. An
Independent Member will also be allowed to attend in the same
capacity.
Distribution of decision making powers for
companies
http://democracy.york.gov.uk/ecCatDisplay.aspx?sch=doc&cat=13483&path=0