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SOUTH WEST OF ENGLAND REGIONAL DEVELOPMENT AGENCY
MINUTES OF THE 52nd BOARD MEETING 29th MARCH 2004
Sterling House, Exeter
Apologies:
The minutes of the 51ST meeting were agreed, subject to a minor amendment in the SWARMMS item, as a correct record. There were no matters arising from the February meeting.
The report was noted. Jeremy Pope informed the Board that Jim Knight, MP for Dorset South, had confirmed he was pressing for equestrian events and mountain biking to be added to the Olympic sailing proposals in Dorset.
Geoff Wilkinson drew recent RDA press coverage to the attention of the Board, including the land purchase for Bristol Science Park and the HMS Scylla project. He reminded Board members that the Tourism Strategy "Towards 2015" was being consulted upon with a series of three events planned across the region.
Colin Skellett noted the positive nature of some of the recent press coverage and reminded the Board of the continuing need to work proactively on the press front, as it was critical to the Agency's reputation and its perception by partners and stakeholders.
Nick Lewis confirmed that the final allocation letter for 2004/5 had not been received from DTI - mainly due to the ongoing debate re "capital" and "current" expenditure. He confirmed that most RDAs had difficulties in remaining within their "current" budget for 2003/4, the South West RDA being an exception to this. The Chairman congratulated the staff on cash management for the year.
It was agreed that once the allocation had been confirmed by DTI, Nick Lewis would send the final bound copy of the budget to Board Members. This would include a one page executive overview of the key financial details.
It was noted that there would be limited current headroom available for 2004/5, and that this situation would need to be carefully managed; any available headroom within the budget was largely capital. Geoff Wilkinson explained that RDAs were jointly making representations to Treasury on the current/capital issue.
Mike Leece raised a concern that the Agency's sector investment (specifically Marine) was being limited to a single year rather than three. Nick Lewis explained that this was not policy but an operational issue, due to the need to strengthen some sector business plans before further investment was confirmed. In these cases a firm commitment would be offered for one year, with following years being made available subject to targets and other conditions being met.
Geoff Wilkinson noted that the proposed 5% target for core administration costs would be achieved, although there had been many changes to RDA responsibilities since that figure was agreed. Nick Lewis drew to the Board's attention the additional staffing information included in the report, raising the staffing establishment figure to 258.
Board decision
The Board noted the December 2003 Accounts.
Commercial in confidence
Colin Molton outlined that the Agency's proposals including the continued policy of offering property to tenants prior to it being made available on the open market. A number of options continue to be explored for transferring assets to the South West Regeneration Fund (SURF); the outcome of this will be reported to the Board. A request was made that information on the book value of assets disposed of be included in future updates to the Board.
Board decision
The Board noted the report and approved the disposal of assets outlined in the paper.
Nick Lewis explained that this paper followed discussion by the Audit Committee in October 2003 of the need for the Board to review the risks facing the SWRDA and re-evaluate the current top ten risks. Harry Studholme, as Chair of the Audit Committee, stressed the need for the Agency to address the issue of risk (which he considered not to be just about process) and for it to be embedded throughout the Agency
A number of points were raised for consideration:
The draft Risk Management Strategy would be updated following discussion at this meeting.
Board decision
It was agreed that Board Members would respond direct to Nick Lewis, suggesting up to two risks that could be removed and up to four to be added, to the top ten risks list. Nick Lewis would then bring a co-ordinated response back to the next business meeting.
Simon Hooton explained that the draft Regional Strategy for the South West Environment 2004-2014 had been developed by the South West Regional Assembly. Within the draft Strategy the Agency had been identified as the lead organisation for four actions. Annex B of the paper suggested amendments to these actions.
In Jonathon's Porritt's absence at the meeting, it was suggested that he was contacted specifically about this paper for his views.
Board decision
The Board endorsed the Strategy and, subject to a minor amendment, it agreed the three actions for which the RDA should be identified as lead partner.
The URC company now having received DTI approval, Colin Molton stated that partners were working on the development of the urban framework plan and a number of key projects, including Gloscat and Gloucester Quays.
Commercial in confidence
Nick Lewis provided the background to the paper which covered the Agency's response to the Treasury proposal to limit Gift Aid relief and associated free entry for heritage and Conservation Charities. He reported that the work, undertaken by PriceWaterhouseCoopers on the Agency's behalf, had been well received and as a result of feedback such as ours, the Revenue had now agreed to undertake further consultation. Mike Leece supported this view and outlined the potential negative financial impact this could have on organisations such as the National Marine Aquarium and Eden, amongst others.
a. Projects Approved
Noted.
b. Executive Reports
Noted.
c. Policy Consultation Reponses
Noted.
d. Summary of Board Advisory Group minutes
Noted
e. Chairman's Urgent Actions
None.
f. Documents Sealed
Noted.
g. Loan Write Offs
Noted.
h. Audit Committee minutes
Noted
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