Lead Member – Mr Steve Charmley, Portfolio Holder for Business Growth, ip&e and Commissioning (North).

Exempt report of the Director of Corporate Services is to follow marked Exempt 12.

(Note: Since the dispatch of the initial agenda it has been determined that the report can be considered in the public part of the meeting.  However the appendix contains commercially sensitive information and is therefore exempt and will be considered only in the exempt part of the meeting.

Contact – Nicki Beardmore (01743 252134)

That Cabinet delegate authority to the Chief Executive in consultation with the Leader of the Council and the Portfolio Holder for Business Growth, ip&e and Commissioning (North) to agree any subsequent changes to ip&e Limited’s Business Plan to enable it to be in an agreed form by 31 January 2015.

Open public part of the meeting

54.1    The Portfolio Holder for Business Growth, ip&e and Commissioning (North) presented a report by the Chief Executive – copy attached to the signed minutes – on the annual business plan being prepared for ip&e Limited which set out the company’s activities for the next financial year and the wider three year plan.  The Council and ip&e Limited were obliged to work together to reach an agreed signed Business Plan by the end of the following January to enable it to be approved by Cabinet in February as part of the Council’s Business Plan and Financial Strategy.

54.2    During the ensuing discussion a Member sought confirmation as to the current number of employees in ip&e and also referred to the loan facility of £500,000, of which £92,000 had currently been drawn down by ip&e and to the fact that under the current terms of the loan the principal and accrued interest was due to be repaid by the end of March 2015.  In response to his request for details of any further activity on the loan facility the Leader indicated that he could not recall any recent transactions but that a written answer would be sent to him on the matter.

54.3    RESOLVED:

That Cabinet delegate authority to the Chief Executive in consultation with the Leader of the Council and the Portfolio Holder for Business Growth, ip&e and Commissioning (North) to agree any subsequent changes to ip&e Limited’s Business Plan to enable it to be in an agreed form by 31 January 2015.

Exempt non-public part of the meeting (See Minute 52 above)

54.4    The Portfolio Holder for Business Growth, ip&e and Commissioning (North) presented the exempt Appendix to the public report of the Chief Executive – copy attached with the exempt Cabinet minutes and reports – on the draft ip&e Limited’s Business Plan for 2014 to 2017.