Agenda item

The report provides  an update on Make It York’s financial performance since the last report in October 2022. 

Members considered a report from Make It York (MIY) that highlighted the Company’s financial performance since the last report in October 2022. Included in the report was an update of financial and non-financial performance for the trading period April to December 2022, with a financial forecast for the end of the financial year. The report also included the Business Plan and budget for 2023/24, including a new dashboard to report ongoing performance and trends.

The Managing Director provided an overview. She highlighted the financial stability of the organisation, and the key successes were discussed.  Members noted that there had been significant improvements made to the governance, financial management, event management and reporting procedures.

Members were informed that MIY were expecting to return a profit of approximately £80k, and that MIY and York Civic Trust had made a successful bid to the National Lottery Heritage Fund for York Trailblazers.

Members congratulated the Managing Director and her team for the improvements and achievements made, and they commended all their hard work and commitment to restore financial stability. They welcomed the future plans and the continued partnership working with the business economy, York Bid, and particularly the Shambles Traders to support and develop a shared vision for the Shambles Market. 

The Managing Director was thanked for her update, and the continued engagement with York residents and visitors to promote the city was welcomed.

Resolved:

(i)           That the Make It York Shareholder report at Annex 1 of the report, and the supporting documents, from Annex 2 to Annex 8 of the report, be noted.

(ii)         That the annual Business Plan (service delivery plan), at Annex 4 of the report, and the 2023/24 budget, at Annex 7 of the report, be approved.

(iii)        That the new dashboards be noted, at Annex 5 and Annex 6 of the report.

Reason: To ensure the council was updated on the financial performance of Make It York and approve the business plan and budget for 2023/24.