Issue - meetings

Background:

This report provided the Cabinet with a review of Kyndi’s performance, for the first quarter of the 2021/2022 financial year. It was accompanied by an update on the company’s achievements and financial performance prepared by the Chief Executive at Kyndi.

The report highlighted that although Kyndi had not yet posted final accounts for the 2020/2021 financial year, it had forecast a pre-tax profit of circa £327,000. More detailed financial projections for 2021/2022 were set out in the accompanying appendix to this report.

Reasons:

When Cabinet agreed to establish Kyndi (previously known as MCG) it was agreed that regular monitoring reports would be provided toCabinet.