Meeting documents
Venue: Mezzanine Room 3, County Hall, Aylesbury. View directions
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Election of Chairman Minutes: Mr D Martin nominated Mr J Chilver to continue as Chairman. This was was seconded by Mr M Barber. No other nominations were received.
RESOLVED Mr Chilver to be elected as Chairman of the Committee for the ensuing year.
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Appointment of Vice-Chairman Minutes: Mr Chilver appointed Mr Martin as his Vice - Chairman
RESOLVED Mr Martin appointed as vice-chair for the ensuing year.
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Apologies for Absence / Changes in Membership Minutes: Apologies were received from Mr T Butcher, Ms A Cranmer and Mr M Preston.
The Chairman also noted Mr N Hussain had been nominated to replace Mr S Lambert as the opposition representative.
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Declarations of Interest To disclose any Personal or Disclosable Pecuniary Interests Minutes: There were none
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of the meeting held on 01 March 2018 to be agreed. Minutes: Minutes of the Pension Fund Committee meeting held on 01 March 2018 were agreed as a correct record.
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Buckinghamshire Pension Board Minutes PDF 158 KB Minutes: Minutes of the Buckinghamshire Pension Board meeting held on 14 March 2018 were agreed as a correct record.
It was noted that item 6 - Annual Review of Buckinghamshire Pension Board, was in draft form at the time of the Board meeting. It had since been submitted to Members and sent back to Officers with comments.
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External Audit Plan PDF 352 KB Grant Thornton Minutes: Discussion of report circulated with the agenda.
The report covered the year ending 31 March 2018. Ms J Edwards confirmed that the 3 key risks identified were: · Management over-ride of controls · The valuation of Level 3 investments was incorrect · Change in custodian
Ms Edwards confirmed the final report would be available for the next meeting on 20 July 2018, meaning it could be signed off by this Committee ahead of the next Reg and Audit Select Committee on 21 July. The statutory date for sign off was 31 July.
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Annual Accounts Minutes: Ms Edwards explained that the report presented at this meeting was still in draft due to delays caused by the change in custodian.
Questions and comments
ACTION Ms Edwards and Mr Passey by July
· With reference to page 24 of the report, there was discussion regarding tax exemption on income from the USA. Mr Slaughter agreed to seek further information on the matter ACTION
Mr Slaughter
ACTION Ms Edwards
ACTION Ms Edwards
ACTION Ms Edwards
ACTION Ms Edwards
ACTION Ms Edwards
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Pension Fund Risk Register PDF 222 KB Additional documents:
Minutes: Ms Edwards explained the risk register had been prepared using the Pantera risk management system for the first time and that most of the increases to risk levels were down to this.
The Chairman noted that there were several items rated at high amber but none that were red.
Ms Edwards confirmed that the plan would be reviewed again in one year.
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Minutes: Annual accounts would be published on 20 July ahead of the 31 July deadline, and would then be reviewed by auditors.
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Exclusion of the Press and Public To resolve to exclude the press and public as the following item is exempt by virtue of Paragraph 3 of Part 1 of Schedule 12a of the Local Government Act 1972 because it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) Minutes: RESOLVED
That the press and public be excluded for the following item which is exempt by virtue of Paragraph 3 of Part 1 of Schedule 12a of the Local Government Act 1972 because it contains information relating to the financial or business affairs of any particular person (including the authority holding that information)
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Confidential Minutes To agree the confidential minutes of the meeting held on 1 March 2018. Minutes: The confidential minutes of the Pension Board Committee meeting held on 01 March 2018 were agreed.
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Confidential Minutes of the Buckinghamshire Pension Board |
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Pension Fund Performance |
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Brunel Update/ Responsible Investment Policy |
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Brunel Portfolio Mapping |
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Date of Next Meeting The next meeting will take place at 10am on Friday 20th July 2018 in Mezz Room 1, County Hall, Aylesbury. Minutes: Pension Fund Committee 20 July 2018, 10am
Pension Fund Board 18 July 2018, 10am
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