Silent Valley Waste Services Ltd Performance
To consider the report of the Head of
Community Services.
Additional documents:
Minutes:
Having regard to the views expressed by the Proper Officer regarding the public interest test, that on balance the public interest in maintaining the exemption outweighed the public interest in disclosing the information and that the report should be exempt.
RESOLVED that the public be excluded whilst this item of business is transacted as it is likely there would be a disclosure of exempt information as defined in Paragraph 14, Schedule 12A of the Local Government Act, 1972 (as amended).
Consideration was given to report of the Head of Community Services.
The Service Manager Community Services presented the report which provided the Committee the performance information of Silent Valley Waste Services Ltd covering the period 2018/2019 (Appendix 1). The report was presented as a result of a recommendation to Council in 2017 from the review of Silent Valley.
In response to questions raised by a Member regarding the figures detailed in section 5.1 of the report, Mr. Waggett said a decision was taken in 2016 to support the Local Authority in the midst of financial austerity by not fully recharging the Local Authority. As a result of this the Company was operating at a loss which meant that the reserve position was also deteriorating due to the year on year loss. In terms of the figure held in Company House, he explained that this was different to the figure held in the escrow account, which was held jointly with NRW. The escrow account currently stood at £1.6m and was identified for aftercare of the site. This account was included within the overall figures, but did not form part of the reserves. He concluded that the £1.6m would take the company up to the end of the lease to 2044, however, provision beyond that for the remainder of the 60 year term would have to be provided for.
The Committee AGREED to recommend that the report which contained information relating to the business/financial affairs of persons other than the Authority be accepted and the information contained therein be noted.