Meeting Minutes - Scottish Canals

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staff had TUPE transferred to Falkirk Community Trust and Falkirk Council and, as such, the Helix Trust would be wound up in due course. 5.1.3 Board Committees RESOLVED that the terms of reference of the following Committees of the Board, circulated for consideration prior to the meeting, be approved: The Audit & Risk Committee; The Property and Commercial Committee; and The Remuneration Committee. The Chair and members of the Audit & Risk Committee had been agreed previously as follows although any other non-executive Board member could attend any Audit & Risk Committee meeting for information: Tanya Castell (Chair); Geoff Aitkenhead; and Martin Latimer. It was agreed that the Chair and members of the Property and Commercial Committee be: Duncan Sutherland (Chair); Martin Latimer; Tanya Castell; and Steve Dunlop The Director of Estates, Katie Hughes, would attend the Property and Commercial Committee meetings. It was further agreed that the Chair and members of the Remuneration Committee be: Jon Hargreaves (Chair); Geoff Aitkenhead; Tanya Castell; Duncan Sutherland; and Martin Latimer. 5.1.4 Scottish Waterways Trust (SWT) SWT had been incorporated and registered as a new Scottish registered charitable company to take on the operation of The Waterways Trust in Scotland following separation from The Waterways Trust in England & Wales. The trustees of The Waterways Trust Scotland had been appointed as trustees of SWT on incorporation. There was capacity to appoint a further trustee with the skills to be appointed as Chair of SWT in due course and SC would be involved in the recruitment process to commence shortly. Actions: The aims and objectives of SWT to be circulated to the Board for information. A meeting between the Board and SWT trustees to be arranged for January 2013. www.scottishcanals.co.uk Page 2 of 4 A00084-01-02
5.1.5 Paddlesports Development The Chief Executive advised that a letter from SC to support the joint application by SC and Glasgow Watersports for the Paddlesports Development to be funded under Sportscotland’s Sports Facilities Fund confirmed that SC would grant a twenty five year lease of land for the Paddlesports Development to Glasgow Watersports for a nominal annual rent. In addition, SC would provide procurement and project management services for the construction phase as well as support to Glasgow Watersports as the organisation responsible for the management and operation of the Development, as required. If in the event that Glasgow Watersports was wound up or dissolved, SC would step in to maintain the facility and provide support to a successor management organisation for the Development. 5.2 Finance Report 5.2.1 Operational Financial position to 30 th September 2012 The Finance Director updated the Board on the overall sound financial position for Scottish Canals as at 30 th September 2012, explained variances to the original plan and gave an overview of the forecast to 31 st March 2013. At the half year Scottish Canals was on target to break even and may have a small surplus at the financial year end dependent on a number of factors over the next 6 months. Actions: A presentation on efficiency savings would be given at either the December or January Board meeting. Property and Commercial Committee to be updated on commercial property investment activities. The Falkirk Wheel to be reported as a separate item in future budgets and forecast updates. The development plans for The Falkirk Wheel to be presented to the Board in due course. 5.2.2 Bank Mandate The Board ratified the addition of Paul McKeachan, Finance Manager, and Nicola Christie, Head of Legal Services, as signatories to the SC bank mandate. 5.2.3 Financial Delegation The Board approved the financial delegation schedule for SC, circulated as appendix 1 to the Finance Director’s report. Action: the delegation schedule for the approval of SC policies would be considered for approval at the November Board meeting 5.2.4 Scottish Waterways Trust (SWT) As a Scottish registered charitable company SWT was responsible for the operation of The Waterways Trust in Scotland following separation from The Waterways Trust in England & Wales. www.scottishcanals.co.uk Page 3 of 4 A00084-01-02
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Meeting Minutes - Scottish Canals

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