Agenda and minutes

Cllr Simkins nominated Cllr Kemp-Gee, seconded by Cllr Barker. There were no further nominations.

RESOLVED that Cllr Kemp-Gee be elected Chairman of the Joint Committee.

Cllr Kemp-Gee nominated Cllr Barker, seconded by Cllr Sangster. There were no further nominations.

RESOLVED that Cllr Barker be elected Vice-Chairman of the Joint Committee.

RESOLVED that the minutes from the meeting held on 9 September 2019 be signed as a true and accurate record.

(1)      Kevin McDonald (ASU) presented an updated overview of the ACCESS Support Unit.

RESOLVED that the updated overview of the ACCESS Support unit be noted.

(1)    Kevin McDonald (ASU) updated the Joint Committee on the progress of the Phase 3 Governance work.

(2)    As a result of ongoing engagement with Monitoring Officers, the timetable had been revised.

(3)    A governance training session for the Joint Committee would be held after the meeting.

RESOLVED that the following be noted:

1.     The revised timetable for completion of phase 3 governance deliverables

2.     The revised IAA would take effect upon execution by all participating authorities. Completion of the process to be confirmed in writing by the Clerk to the Committee.

(1)      Kevin McDonald (ASU) provided an update on the activities undertaken since the last Joint Committee, the associated spend and a risk summary.

(2)      Overall, there was an underspend forecast in 2019-20 of £184k.  This was welcomed by Members who commented positively on the efficiency and work of the ASU.

(3)      The business plan and budget for 2020-21 were presented to the Joint Committee. The plan was based upon the ACCESS governing principles, as established by the participating Authorities.

(4)      It was highlighted that East Sussex County Council were undertaking an ESG review and their representative offered to share their findings with the Joint Committee.

(5)      Mr McDonald advised the Committee that work was continuing in relation to addressing illiquid assets, noting that the focus of ACCESS activity had been on listed assets so far.  Further updates on this work would be provided at future meetings.

(6)      The Chair commented on the need to review and update ACCESS’ communications strategy, with consideration of a more proactive approach to improve understanding of the positive work of ACCESS.

RESOLVED that

1.    the updated business plan, the ASU workstream progress report, the revised 2019/20 outturn and summary risk register be noted.

2.    recommend the 2020/21 business plan to the ACCESS Authorities; and

3.    approve the 2020/21 budget totalling £1.080m to support the proposed business plan.

RESOLVED that under Section 100A of the Local Government Act 1972 the press and public be excluded from the meeting for the following business on the grounds that it involves the likely disclosure of exempt information as defined in paragraphs 3 & 5 of part 1 of Schedule 12A of the Act.

EXEMPT ITEMS

RESOLVED that under Section 100A of the Local Government Act 1972 the press and public be excluded from the meeting for the following business on the grounds that it involves the likely disclosure of exempt information as defined in paragraphs 3 & 5 of part 1 of Schedule 12A of the Act.

RESOLVED that the report be noted; and the revisions to the Risk Register as set out in the report be approved.

(1)      Andrew Boutflower (Hampshire) provided an update on the progress made in launching the ACS investment sub-funds and outlined the requirement for an additional Emerging Markets (EM) equities manager.

(2)      It was also explained that further work was being undertaken in relation to identifying options for pooling illiquid investments.

RESOLVED that:

1.    progress in launching the ACS investment sub-funds be noted.

2.    the request to Link for a search for an Emerging Markets (EM) equities manager be approved.

3.    the progress in identifying options for pooling illiquid investments be noted.

(1)      Kevin McDonald provided an overview of contract monitoring activity and key points, including planned work to improve KPI structuring and develop dashboard to assist in future monitoring.  It was confirmed that further updates would be provided in March 2020.

RESOLVED that that the report be noted.

(1)      Karl Midl and James Zealander delivered a presentation and answered questions.

RESOLVED that the presentation be noted.

(1)      Kevin McDonald updated the committee on work being undertaken to address requirements for providing Pooling updates to the Ministry for Housing, Communities and Local Government (MHCLG).

RESOLVED that the ACCESS MHCLG Pooling update submission be noted.

-       The Joint Committee agreed that the Chairman should write to the former Chairman, Cllr Reid, to thank him for his work on ACCESS.

-       The Chairman announced that this would have been Nicola Mark’s (Norfolk) last meeting. The Joint Committee agreed that the Chairman would write to her to thank her for all her work on ACCESS.

-       Cllr Oliver explained that Norfolk were seeking advice following the Government’s response to their SAB consultation (particularly in relation to fiduciary duty). The advice would be shared with the Joint Committee once received.