Issue - meetings

To be presented by Rachel Martinig, Pensions & Investment Accountant, Buckinghamshire Council.

Mrs Martinig, Pensions & Investment Accountant, Buckinghamshire Council, referred to the report circulated with the agenda.

Mrs Martinig highlighted the following points:

• The accounts audit was ongoing but was expected to be completed the week beginning 28 September 2020. The final sign off would not take place until the audit of all council accounts was complete in November 2020.
• Page 150 of the report pack gave the fund net value which had decreased by £93m as of 31 March 2020. This had been negatively impacted by covid-19 and was expected to improve.

The following points were discussed as a result of questions from members of the committee:

• Members asked for further information about the increase in administration cases outlined on page 85 of the agenda pack. Mrs Lewis-Smith would provide a response via email.

ACTION

Mrs Lewis-Smith

• It was confirmed that the previous year’s contributions had been higher due to a large employer paying two years of contributions in advance.
• The performance review forecast on page 69 of the report pack was incorrect as it failed to take into account the advance contributions. This would be corrected for the published annual report.

ACTION

Mrs Martinig

RESOLVED

Members of the committee AGREED the report.

To be presented by Rachael Martinig, Pensions & Investments Accountant, Buckinghamshire Council.

Mrs R Martinig, Pensions & Investment Accountant, Buckinghamshire Council referred to the draft accounts circulated with the agenda.

RESOLVED

Members of the committee NOTED the update.