Agenda item

Report of the Chamberlain.

The Board considered a report of the Chamberlain which provided Members with the Draft Pension Fund Annual Report for the year ended 31 March 2017.

The Chamberlain advised that the Auditors have completed their review of the Annual Report and the Corporation’s main set of accounts, of which the Pension Fund Statement of Accounts is included and auditors have issued an unqualified opinion across the board.   It was noted that the Annual Report is a prescribed document that, as outlined in regulation 57 of the Local Government Pension Scheme, must include certain statutory statements such as the funding strategy statement, an investment strategy statement and communications policy statement etc.

In response to a Member’s question with regards to the Compliance statement, the Chamberlain advised that CLG best practice guidance looks at general principles nationally including district and unitary authorities and therefore not all the guidance is relevant to the City Corporation and this results in only partial or non-compliance in certain areas. 

In response to a Member’s question, the Chamberlain advised that this Board has a scrutiny role so it would be appropriate for it to review non-attendance at other relevant Committees.    It was suggested no action is needed at the present time as all meetings have been quorate and operating, but that this could change if there started to be very low level attendances.