Issue - meetings

To receive the draft financial statements of Ansa Environmental Services Ltd and Orbitas Bereavement Services Ltd for the year 2023/24.

The committee considered the draft pre-audited financial statements and outturn update for the Wholly Owned Companies for 2023-24.

Members noted the decision of the Finance Sub Committee in June 2024 to bring the services provided by Ansa and Orbitas back-in house. It was confirmed that this would be recorded as a post balance sheet in the full financial statement summary of the accounts.

The committee queried how services would be structured once brought back in-house including timelines. Officers committed to considering this matter further and proposed an informal briefing with the appointed Project Manager.

RESOLVED:

That the Audit and Governance Committee

1.    Note the summarised position of the Wholly Owned Companies Financial Statements for year ended 31st March 2024.

2.    Note the dates in relation to the approval process for the Financial Statements.

3.    Note the overall financial performance of the WOC’s in the 2023/24 financial year, as contained within the Appendix 1, as follows:

a)    (a)ASDV Reserves increased by £0.173m, retained reserves are £2.016m.

b)    (b) Wholly Owned Companies Net Core Contract Spending was £45.051m.