Purpose

To consider and note the Buckinghamshire
Shareholder Committee's annual report for the period
2023/24.

Content

The role of the Shareholder Committee was to
ensure that the Council’s companies and limited liability
partnerships act in the interests of the Council as shareholder and
that best practice was being adhered to in delivering statutory
arrangements. In doing so, the Committee contributed to the proper
governance of the Council’s subsidiaries. This added level of
governance continued to be vitally important in the context of the
financial challenges many local authorities and local authority
companies have faced over recent years and continue to face.
Understanding the risks and performance associated with wholly or
jointly owned companies was a key task of the Committee.
 
This was the second year of operation of the
Shareholder Committee and producing an annual report to reflect the
work and outcomes achieved by the Committee throughout 2023-24 was
considered good practice. The Committee had met four times during
the 2023-24 period. The Committee had undertaken a number of key
pieces of work which included reviewing business plans and the
financial positions of each company/joint venture as well as
undertaking annual reviews of company Articles of Association and
the Committee Terms of Reference.
 
RESOLVED - the
Annual Report of the Buckinghamshire Shareholder Committee be
noted.