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There is no summary of this meeting yet. One is written once the council publishes the minutes. The agenda and papers are below.
In accordance with the Code of Conduct adopted by the City & County of Swansea, the following interests were disclosed: Councillors P Downing, M B Lewis and P Rogers declared personal interests in the agenda as a whole. Officers: K Cobb, J Dong, J Parkhouse and C Isaac declared personal interests in the agenda as a whole.
Resolved that the Minutes of the Pension Fund Committee meeting held on 11 September 2024 be signed and approved as a correct record.
Gillian Gillett, Audit Wales presented the ISA 260 Audit of Accounts Report – City and County of Swansea Pension Fund which summarised the main findings from the audit of the 2023-24 accounts. It was added that Audit Wales intended to issue an unqualified audit opinion on this year’s accounts once the Council had provided a Letter of Representation based on Appendix 2. The proposed Audit report was provided at Appendix 1. There were no misstatements identified in the accounts which remained uncorrected. It was explained that details of the misstatements corrected by Management were minor amendments of a presentational nature and had no impact on the net expenditure or net assets of the Pension Fund. There were no other significant issues arising. The Chair thanked Audit Wales for the report and praised Jeff Dong, Deputy Chief Finance Officer / Deputy S151 Officer, Karen Cobb, Accounting and Investment Manager and Finance Department staff for all their work.
The Deputy Chief Finance Officer / Deputy Section 151 Officer provided a report which sought approval of the Annual Report & Statement of Accounts for the City & County of Swansea Pension Fund 2023/24. It was outlined that officers had presented the draft Annual Report & Statement of Accounts 2023/24 to the Pension Committee in July 2024. The draft accounts had been subject to audit during the intervening months and the final audited version, which was the subject of the Audit Wales ISA 260 report with accompanying audit opinion and audit findings presented by Audit Wales, was provided at Appendix 1. The staff within the Finance Department were thanked and congratulated for their work and commitment. Resolved that that the City & County of Swansea Pension Fund Annual Report & Statement of Accounts 2023/24 be approved.
The Deputy Chief Finance Officer / Deputy S151 Officer presented a ‘for information’ report which presented any breaches which had occurred in the period in accordance with the Reporting Breaches Policy. Appendix A provided the details of breaches that had occurred since the Policy had been introduced. It was noted that no breaches had occurred since the previous meeting on 11 September 2024.
The Committee was requested to exclude the public from the meeting during consideration of the item(s) of business identified in the recommendation(s) to the report on the grounds that it / they involved the likely disclosure of exempt information as set out in the exclusion paragraph of Schedule 12A of the Local Government Act 1972, as amended by the Local Government (Access to Information) (Variation) (Wales) Order 2007 relevant to the item(s) of business set out in the report. The Committee considered the Public Interest Test in deciding whether to exclude the public from the meeting for the items of business where the Public Interest Test was relevant as set out in the report. Resolved that the public be excluded for the following items of business.
Councillors must say when they have a personal link to something being discussed, such as a job, a property or a family member. A prejudicial interest is one strong enough that the councillor usually leaves the room and takes no part.
Declarations are read from the minutes once they are published.
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