Issue - meetings

Report of the Chief Executive.

The Managing Director – Streetwise Environmental Ltd, presented the annual report for Streetwise Enterprises Ltd and Streetwise Enterprises Trading Ltd, both companies wholly owned by Rushcliffe Borough Council.

The covering report explained that it had been agreed by Cabinet in January 2021 to simplify the reporting procedures and to make them more transparent. The companies will now report to an oversight board made up of three Cabinet members and three officers on a biannual basis and in addition, the annual report will be submitted to Governance Scrutiny Group for comment before being passed to Cabinet.

The Managing Director – Streetwise Environmental Ltd asked the Group to consider the companies’ performance based on:

·       Key performance indicators

·       Ability to win contracts

·       Ability to deliver against contracts awarded

·       Financial standing

·       Environmental credentials

·       Appropriate governance measures being in place

·       Response to Covid

The Managing Director advised the Group that the contract with Metropolitan Housing had ended in August 2021, however this loss had not affected the companies’ ability to compete for contracts and had recently been awarded a 5-year contract to manage and maintain the Romans’ Quarter development at Bingham. In addition, the Managing Director explained that it had been a challenging year with the ongoing disruptions due to Covid, staff have had to work more flexibly and for longer hours due to staff shortages and sickness.

On a positive note it was reported that the company had been successful in gaining a number of nationally recognised accreditations, including: UKAS accredited ISO9001 and ISO14001 (environmental Management); the Contractor’ Health and Safety Assessment premium scheme (CHAS); Construction Line Gold standard; and the Considerate Constructors Scheme. These are all important validations to enable the company to win contracts. 

The Managing Director in concluding explained that an annual three-year rolling business plan is produced and reviewed by the Streetwise Enterprises Ltd Board and reviewed and approved by the new Oversight Board. It was noted that Streetwise Environmental Ltd had good growth and profitability potential and is a viable going concern.

Members asked specific questions in respect of the governance arrangements and the two vacant positions on the Board and whether these vacancies could potentially affect the companies’ ability to win new contracts. The Managing Director explained that new appointments were the decision for the Oversight Board and that these vacancies had not had a detrimental effect on the company winning new contracts.

Members questioned the social values of the company as outlined in the original Social Enterprise Company model and whether this was still a core value. The Managing Director admitted to underselling the social value and highlighted that this, along with the environment are important to the Streetwise brand, adding that the company works with social groups throughout the Borough providing examples at Cotgrave and West Bridgford Community Gardens. 

Members asked specific questions regarding website enquiries and how much of these have been turned into sales and whether Covid has had any impact on the companies’ ability to get work completed on time. The Managing  ...  view the full minutes text for item 24