Agenda item

Report of the Chamberlain.

The Committee considered a Report of the Chamberlain concerning the 2019-20 City Fund and Pension Fund Financial Statement.

Members noted the net asset position at the end of March, which showed a £195m increase over the course of the 2019-20 f/y. The position since March, with the advent of Covid, was more volatile, with further turbulence expected up to the end of 2020-21.

RESOLVED – that the Committee approved the following:

·         the 2019-20 City Fund and Pension Fund Statement of

Accounts: and;

·         Delegate to the Chamberlain, in consultation with the Chairman and Deputy

Chairman of the Finance Committee, approval of any material changes to the

statement of accounts required before the signing of the audit opinion by

BDO which is expected by the end of November.