Issue - meetings

Resolved:

(1)  The assurance arrangements that had been established to confirm the governance and assurance established for all WMCA’s arm’s length companies be noted as satisfactory.

(2)  It was noted that the WMCA Growth Company was an investment in which WMCA had a 5.3% stake and that Senior Leadership Team were currently reviewing the performance information from the Growth Company with a view to sharing the updated governance and assurance arrangement with committee.

(3)  It was noted that WMCA had secured a bid to host a pilot of testing 5G technology with discussions taking place with Department of Culture, Media and Sport to look at delivery options and potential operating structures. Once the company has been established committee would receive information on its assurance and governance arrangements. It was expected that the arrangements for these companies will be reviewed again within the next 12 months, with an appropriate review cycle to be confirmed with the Interim Director of Finance.

(4)   That the Monitoring Officer to provide committee with a briefing on the roles and responsibilities for each board / committee at a future committee.

Committee considered a report from the Corporate Assurance Manager on the governance and assurance arrangements for WMCA arm’s length companies. The four active arm’s length companies were West Midlands Rail Ltd, West Midlands Development Capital Ltd, Midland Metro Ltd and West Midlands Growth Company Ltd.

Councillor Craig Collingswood requested assurance that committee had oversight on the company checklists as previously discussed. The Corporate Assurance Manager shared that the appropriate process would be to share the detailed checklists with the Chair which had been completed just prior to this committee meeting. Members were content with the Chair having oversight of the detailed checklists, with any arising concerns to be shared with committee. 

Resolved:

(1)  The assurance arrangements that had been established to confirm the governance and assurance established for all WMCA’s arm’s length companies be noted as satisfactory.

(2)  It was noted that the WMCA Growth Company was an investment in which WMCA had a 5.3% stake and that Senior Leadership Team were currently reviewing the performance information from the Growth Company with a view to sharing the updated governance and assurance arrangement with committee.

(3)  It was noted that WMCA had secured a bid to host a pilot of testing 5G technology with discussions taking place with Department of Culture, Media and Sport to look at delivery options and potential operating structures. Once the company has been established committee would receive information on its assurance and governance arrangements. It was expected that the arrangements for these companies will be reviewed again within the next 12 months, with an appropriate review cycle to be confirmed with the Interim Director of Finance.

(4)   That the Monitoring Officer to provide committee with a briefing on the roles and responsibilities for each board / committee at a future committee.