Agenda item

(1)          Officers introduced a report which updated the Committee on an application to join the Superannuation Fund, a number of admission matters and an employer related matter.

(2)          Mrs Mings tabled an urgent supplementary report relating to a proposal from the Oasis Community Learning Trust, which currently had three academies in Kent and 41 academies in other areas, to consolidate all of their academies into the Kent Superannuation Fund. This change would require approval from the Secretary of State for Communities and Local Government. At this stage the Committee were being requested to consider whether they wished officers to have further dialogue with interested parties before submitting a full report to the June meeting of the Committee.

(3)          Officers answered questions and noted comments from Members which included the following:

·      Mrs Mings stated that one of the reasons why the Trust had chosen the Kent Superannuation Fund as opposed to one of the other 15 LGPS Funds that they currently participated in, was because the Kent Fund had the size and capacity to take on this number of academies.

·         Mr Vickers confirmed that the Committee did not have to agree to this request.

·      It was confirmed that this Trust had 1,000 members with an annual contribution of £5.5m which was larger than most District Councils.

·      Mr Vickers confirmed that it was intended that the Trust would make a contribution to overheads.

·      Concern was expressed about the inability to isolate the risk to the Kent Superannuation Fund if the Trust were no longer able, for whatever reason to operate all or any of their academies. 

·      There was a need to understand academy finances and it was essential that full due diligence be carried out and reflected in the report to this Committee.

(4)          RESOLVED that:

a)        the admission to the Kent County Council Superannuation Fund of Coram Kent Adoption Limited be approved.

b)        an amended agreement can be entered into with Mytime Active.

c)         an amended agreement can be entered into with NSL Limited.

d)         a termination agreement may be entered into with Superclean Services Wothorpe Limited.

e)        an amended legal agreement can be entered into with Sopra  Steria Limited.

g)          to note the update on Hextable Academy.

h)        the Chairman may sign the minute of today’s meeting relating to recommendation a) above at the end of today’s meeting.

i)          once legal agreements have been prepared for a) - e) above, the Kent County Council seal can be affixed to the legal documents.

j)          that officers be authorised to enter into further dialogue with the Oasis Community Learning Trust, representatives of central government and other administering authorities involved including a formal consultation.

k)         following the dialogue in i) above and full due diligence, a report on the proposal from the Oasis Community Learning Trust for the consolidation of their academies into the Kent Fund be submitted to the next meeting of this Committee for decision.

(In accordance with procedural rule 2.26(3) Mr Marsh requested that it be recorded that he did not vote in support of resolutions i) and j) above.)