Agenda and minutes
Venue: via Microsoft Teams
Contact: William Mohieddeen Tel: 01835 826504; Email: william.mohieddeen@scotborders.gov.uk
Link: Live meeting link
No. | Item |
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Minute of Meeting held on 16 September 2021 to be noted and signed by the Chairman. (Copy attached). Minutes: There had been circulated
copies of the Minute of the meeting held on 16 September
2021. APPROVED the minute for signature by the Chairman |
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External Audit Report PDF 159 KB Consider report by Audit Scotland. (Copy attached). Additional documents: Minutes: There had been circulated copies of the report by Audit Scotland, the Council’s external auditors. The report explained that Audit Scotland’s work on the 2020-21 annual report and accounts had been substantially completed and were able to express an opinion as to whether the financial statements gave a fair and true view in accordance with the financial reporting framework and as to other opinions on the management commentary, annual governance statement and governance compliance statement. Ms Woolman, Audit Scotland was in attendance and presented the report. Ms Woolman confirmed that the audit was conducted in accordance with applicable law and International Standards on Auditing (UK) (ISAs (UK)), as required by the Code of Audit Practice approved by the Accounts Commission for Scotland and it was anticipated that an unqualified audit opinion would be issued. Ms Woolman assured the Committee that through interaction with officers and members any instances of actual, suspected or alleged fraud would have been drawn to their attention and outstanding matters referenced in the paper had been received and did not affect the conclusion of the report. It was noted that fund membership levels were increasing but the ratio of active members to pensioners was reducing. The report noted that that Audit Scotland regarded the Fund as having conducted business in an open and transparent manner. Ms Woolman noted the Fund actively considered Environmental, Social and Governance matters as part of its Investment Strategy and that a positive approach in those matters may have a positive impact on the financial performance of investments.
DECISION APPROVED the report to be put forward to a meeting of the Scottish Borders Council. |
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Final Annual Accounts PDF 180 KB Consider Report by Director Finance & Corporate Governance. (Copy attached). Additional documents: Minutes: There had been circulated
copies of a report by the Director Finance and Corporate Governance
presenting the final Annual Report and Accounts for the Pension
Fund 2019-20 prior to their submission to Scottish Borders Council
for signature. The final Report and
Accounts, contained in Appendix 1 to the report, fully met these
requirements. Audit Scotland had
completed their audit and had provided an unqualified independent
audit opinion. The Scottish Borders
Council’s Pension Fund Annual Audit Report highlighted two
new recommendations and five recommendations from previous audits
and action plans had been agreed for each of the
recommendations. In response to a
question about disparity between payments and income into the Fund,
Mr Robertson noted that the Fund had consistently produced a
positive return above the requirement of a 3.8% per annum return on
investments. Fund performance was
monitored and the Council had available options should performance
reduce. |
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Items Likely To Be Taken In Private Before proceeding with the private business, the following motion should be approved:-
“That und Section 50A(4) of the Local Government (Scotland) Act 1973 the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 8 of Part 1 of Schedule 7A to the aforementioned Act.” Minutes: AGREED under Section 50A(4) of the Local Government (Scotland) Act 1973 to exclude the public from the meeting during consideration of the business detailed in the Appendix to this Minute on the grounds that it involved the likely disclosure of exempt information as defined in Paragraph 6 and 6 of Part I of Schedule 7A to the Act. |
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Minute Private Section of Minute of Meeting held on 16 December 2021 to be noted and signed by the Chairman. (Copy attached). Minutes: The Committee considered the Private Minute of the Meeting held on 16 September 2021. |