Issue - meetings

To receive and consider the 2021/22 Pension Fund Statement of Accounts and recommends them to Council for approval.

The Committee received a report from officers which presented the Warwickshire Pension Fund Statement of Accounts 2021/22.

The report requested that, if content, the Committee recommend them to Council for approval, highlighting any issues they wished to bring to Council’s attention.

The Warwickshire Pension Fund Statement of Accounts was attached at Appendix A to the report, which set out the financial position of the pension fund but did not cause any financial implications.

Chris Norton presented the report and advised that no feedback had been received from the consultation. Feedback had been submitted by Grant Thornton as detailed in section 5 of the report.  The accounts had been published in draft form on the Council’s website and would be issued as final version in due course.  Following a query, Chris Norton advised that members of the Pension Scheme did not get sent the Statement of Accounts directly, but it could be accessed should they wish to view it along with the Annual Report.

Following a question raised by the Chair, Chris Norton advised that the pension fund took a long-term view and outlined the governance arrangements in place.  These included the Investment Strategy, the Pension Fund Investment Sub-Committee who oversaw the work and the Funding Strategy.

Councillor Kettle raised a concern that at the last Pension Fund Annual General Meeting, members had to be advised that the accounts were not ready.  He therefore requested assurance that they would be complete in time for the AGM this year.  Avtar Sohal assured the meeting that the auditors would be aiming to have them complete by then but advised that it may depend on capacity.

Recommended the Warwickshire Pension Fund Statement of Accounts 2021/22 to Council for approval.