Issue - decisions

Resolved:

                   i.        Further to Article 12 of the Constitution for the Council of the City of York, approved the formation of a new Teckal compliant company limited by guarantee together with NYC, Middlesbrough Council, and Redcar and Cleveland Borough Council for the delivery of audit and assurance services to these authorities; and

                  ii.        approved the novation of current Service Agreement between the Council of the City of York and Veritau Limited dated 22^nd December 2022, relating to the provision of audit, counter fraud, and information governance services (the “CYC Service Agreement”), to the new company;

                 iii.        approved the payment by Veritau Limited of a one-time £20,000 dividend to the Council of the City of York and a one-time £20,000 dividend to North Yorkshire Council;

                iv.        approved payment of a one-off £20,000 subscription fee by the Council of the City of York to the new company, once the new company has been incorporated; and

                  v.        delegated authority to the Director of Governance to negotiate, draft and conclude with the other member authorities and Veritau Limited all necessary documentation linked to the formation of the new company (including (but not strictly limited to) the new company’s Articles of Association, Members Agreement, and the Novation of the Service Agreement).

Reason:    To ensure that Veritau (as a group) can continue to deliver audit and assurance services to CYC and the other member authorities (both present and future) in compliance with Reg. 12(1) of the Procurement Regs (and Schedule 2, Part 1, Para 2 of the Procurement Act 2023 once this comes into force later in October 2024).