Issue - meetings

(Joint Report of the Consortium Treasurer and Director)

The Management Committee received a joint report of the Director and Consortium Treasurer setting out the Draft Outturn for 2013/14 with explanations for the more significant variances to prior year, budget and forecast.  A copy of the report marked ‘Agenda Item 7’ is filed with these minutes.  [Further details informing the Draft Outturn for 2013/14, of a commercially sensitive nature, were considered under exempt business in Minute 76 below.]

RESOLVED:

That approval be given to:

(a)       the draft Outturn for 2013-14;

(b)       the allocations from the operating surplus for 2013/14 as outlined in paragraphs 23 and 24 of the report; and

(c)       payment of the dividend, subject to approval of the accounts in September 2014, as outlined in paragraphs 25 and 26 of the report.

(Joint Report of the Consortium Treasurer and Director)

The Management Committee received a joint report of the Director and Consortium Treasurer setting out the Draft Outturn for 2012/13.  A copy of the report marked ‘Item 7’ is filed with these minutes.  [Further details informing the Draft Outturn for 2012/13, of a commercially sensitive nature, were considered under exempt business in Minute 12 below.]

Arising from discussion the following points were made:

    (i)        The Finance and Audit Subcommittee had considered the Draft Outturn for 2012/13 at its meeting on 3 June 2013.  At this meeting the Subcommittee recommended the Draft Outturn, allocations from the operating surplus and payment of the dividend (subject to approval of the accounts and confirmation of the basis for distribution) for approval by the Management Committee;

  (ii)        Following consideration by the Subcommittee, a marginal increase had been made to the amount earmarked for the GEMS 2 project;

 (iii)        ESPO’s consulting services were considered to be a core service which provided particular value to Consortium Authorities.  There was a need to further develop this area of the business.

RESOLVED:

That the Management Committee approves:

(a)       the Draft Outturn for 2012-13;

(b)       allocations from the operating surplus for 2012-13 as outlined in paragraphs 22, 23 and 24 of the report;

(c)       payment of the dividend, subject to approval of the accounts and confirmation of the basis for distribution, as outlined in paragraphs 25 and 26 of the report.