The group structure will facilitate improved inter-company productiveness, opportunities for economies of scale and provide a re-aligned corporate governance framework for co-ordinated external growth.
Decision type: Key
Reason Key: Expenditure or savings of more than £1m;
Decision status: Recommendations Approved
Division affected: (All Division);
Notice of proposed decision first published: 08/03/2018
Anticipated restriction: Fully exempt - View reasons
Explanation of anticipated restriction:
Information relating to the financial or business affairs of the Council and KCC companies
Decision due: Not before 28th Nov 2018 by Deputy Leader and Cabinet Member for Finance and Traded Services
Reason: In order that the proposed decision can be published for 5 clear working days
Lead member: Deputy Leader and Cabinet Member for Finance and Traded Services
Lead director: David Cockburn
Department: Strategic & Corporate Services
Contact: Benjamin Watts, General Counsel 03000 416814 Email: benjamin.watts@kent.gov.uk.
Consultation process
To receive an update on the governance, management and development of the proposed holding company for KCC’s wholly-owned trading vehicles
Consultees
Updates were provided to the Policy and Resources Cabinet Committee on 15 September 2017 and 5 December 2017, and the Cabinet Committee noted and endorsed the proposals. A further update was also provided on 16 March 2018.
Financial implications: Investment required to: set up the holding group structure; implement the outcomes of the review; and re-define/re-commission contractual arrangements with the group and the Council. The initial investment will be funded by the Council, but will be factored into the longer term financial return plan to the Council
Legal implications: Establishment of group company board and support staff. Potential contractual, employment and data protection issues arising from the implementation programme.
Equalities implications: None