Decision Maker: Overview and Scrutiny Committee

Outcome: Decision approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: March 25, 2025

Purpose:

Content: OVERVIEW AND SCRUTINY COMMITTEE   TUESDAY 25 MARCH 2025   RESOLUTIONS   The following are the resolutions made by the Overview and Scrutiny Committee at the above meeting.   Please note that these are not the full minutes, which will be published at a later date.   Date of resolution: 25 March 2025   If you have any queries about any matters referred to in this notice, please contact: Artemis Kassi, Head of Scrutiny and Governance (artemis.kassi@newham.gov.uk).   Item 5: Call In of Cabinet Decision: Populo Living 2025/2026 Business Plan   i)  That the decision by Cabinet on 4 March 2025 concerning the Populo Living 2025/2026 Business Plan be referred back to Cabinet for reconsideration.   ii)  That the reasons for the referral to Cabinet be noted, as follows:   a)  Five-Year Strategic Business Plan A five-year, strategic business plan to be written by 1 September 2025, which captures all the future risks and reasonable assumptions within one document including financial, economic and regulatory risk uncertainty and to include an income and expenditure account cash flow statement and balance sheet; b)  Moratorium A moratorium with immediate effect of all new developments undertaken by Populo Ltd until a five-year business plan has been written; c)  Sequencing All business plans and budgets of all subsidiaries are to be approved by Cabinet before the main budget-setting February Full Council; d)  Annual review of assumptions by the Audit Committee Assumptions to business plans to be reviewed and commented upon by the Audit Committee on an annual basis, no later than December 2025. Any deviations from standard assumptions in cabinet reports are to be highlighted and approved by Cabinet; e)  Forensic Audit An audit of the business plan model is to be undertaken by 1 September 2025 by a firm of forensic accountants and their report to be presented to the Audit Committee; and f)  Impact of the Procurement Act Work to be conducted by 1 July 2025 on how the Populo Business Plan as currently drafted and the proposals for a shift to a commissioning model will be impacted by the Procurement Act 2023. This work is to be presented to the Audit Committee as soon as practicably possible.