Purpose

To consider and approve the:
Final annual accounts; and
Performance reporting as against Business Plan; and
Annual Business Plan for following year

Content

Decision:

1.        Noted that
Altair Ltd will be carrying out an options appraisal for NDH. The
findings of this appraisal will be reported to the Executive and
Shareholder Trustee Committee and will be used as the basis for
formulation of a new NDH business plan; and

2.        Noted the
position in relation to the draft annual accounts for the
company.
Reason(s):

1.       
ESTC
previously agreed to the need for an updated options appraisal for
NDH, as a review of the company’s viability and governance is
required.  Savills conducted an options
appraisal on behalf of the Board of NDH in 2023.  The Council as shareholder needs its own
review.  Furthermore, the operating and
financial environment has changed since the Savills review, so an
updated review of all options is now necessary.

2.       
NDH and
its Board are required to provide an updated business plan, which
the Council (via ESTC) needs to agree.
Other options considered and rejected by the
Executive:
None.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
Councillor Angela Goodwin was a non-executive
director of North Downs Housing.