Issue - meetings

This report presents the audited financial statements of the Pension Fund for the year ended 31 March 2015, with respect to the County Council’s obligations as the administering authority under the Local Government Pension Scheme (LGPS) Regulations.

The external auditor (Grant Thornton) has issued an unqualified opinion on the accounts and this is outlined in the Audit Findings for Surrey Pension Fund Report.

Declarations of interest:

None.

Key points raised during the discussion:

1.    The Senior Accountant introduced the accounts and the audit findings.

2.    It was queried why Note 24 had been signed off by the actuary.  The Deputy Chief Finance Officer explained that the sign off used to be removed from the Note but the external auditor had advised that this should be retained. 

Actions/Further information to be provided:

None.

Resolved:

That the Surrey Pension Fund Committee:

1.    Notes and approves the financial statements.

2.    Notes the content of the Audit Findings for Surrey Pension Fund Report.

3.    Notes the Letter of Representation.

4.    Notes the External Auditor’s Report.

Next steps:
None.

This report presents the audited financial statements of the Pension Fund for the year ended 31 March 2013, in respect of the County Council’s obligations as the administering authority under the Local Government Pension Scheme (LGPS) Regulations.

The external auditor (Grant Thornton) has issued an unqualified opinion on the accounts and this is outlined in the Audit Findings for Surrey Pension Fund Report.

Declarations of Interest:

None.

Key Points Raised During the Discussion:

1.    The Strategic Manager, Pension Fund and Treasury introduced the report.  He explained that Jon Evans had been responsible for preparing the Financial Statements and had since departed his role.  The recently appointed Senior Accountant, Alex Moylan, had taken responsibility for steering the Accounts through the external audit process.  The External Auditors had made no recommendations, with only some minor adjustments made following discussions.

2.    The Strategic Manager, Pension Fund and Treasury showed the Board a mock up of the cover of the Pension Fund’s Annual Report.

Actions/Further Information to be Provided:

None.

RESOLVED:

      i.        To NOTE and APPROVE the financial statements;

     ii.        To NOTE the content of the Audit Findings for Surrey Pension Fund Report;

    iii.        To commend Jon Evans and Alex Moylan for their excellent work in the production and audit of the accounts; and

   iv.        To NOTE the Letter of Representation.

Next Steps:

None.