Decision details

Dividend or charitable donation payment by Welland Homes

Decision Maker: Portfolio Holder for Strategic and Operational Housing

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To corroborate a decision of Welland Homes Board in relation to the distribution of company profits

Decision:

  1. That the decision of Welland Homes board, to make charitable donations in accordance with the Company’s Dividend and Charitable donations Policy, is approved.

 

  1. That the following charitable donations are made

£88,074 to Citizens Advice South Lincolnshire

£31,000 to Lincolnshire Community & Voluntary Service

£6,000 to Active Lincolnshire

£3,200 to South Holland in Bloom

 

  1. That the necessary Shareholder resolution be passed

 

Reasons for the decision:

To ensure that the Company is able to support one of its principal objectives which is to provide a financial benefit to the Council’s General Fund. Approving the decision of Welland Homes Board will enable Welland Homes to make charitable donations to the proposed beneficiaries in lieu of payments from SHDC, which will provide a financial benefit to the General Fund.

 

The Company’s Dividend and Charitable Donations Policy requires shareholder approval for any charitable donations (in accordance with the Company’s articles of association).

 

Alternative options considered:

Not to approve the decision of Welland Homes Board, in which case the proposed charitable donations will not be made.

Interests and Nature of Interests Declared:

None

Reason Key: Making savings above £75,000 threshold in respect of revenue/£180,000 in respect of capital;

Wards Affected: (All Wards);

Conflict of Interest: None

Dispensation Granted: None

Contact: Caroline Hannon, Head of Delivery Email: Caroline.Hannon@sholland.gov.uk.

Publication date: 19/03/2024

Date of decision: 19/03/2024

Effective from: 27/03/2024

Accompanying Documents: