Venue: Multi-Location Meeting - Gloucester Room, Guildhall / MS Teams. View directions
Contact: Democratic Services: - 636923
No. | Item |
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Election of Chair (Pro Tem) Minutes: The Chair was in virtual attendance at the meeting but had no sound function available. It was proposed that a Chair (Pro Tem) be elected from the other members present. Resolved that Councillor C R Doyle be elected Chair Pro Tem. (Councillor C R Doyle Presided) |
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Disclosures of Personal and Prejudicial Interests. Decision: In accordance with the Code of Conduct adopted by the City and
County of Swansea, the following interests were declared: - Councillor C R Doyle, Councillor S A Knoyle, Rosemary Broad
and Ian Guy declared personal interests in the agenda as a whole. Karen Cobb, Jeff Dong, Jeremy Parkhouse and Melissa Perry
declared personal interests in the agenda as a whole. Minutes: In accordance with the Code of Conduct adopted by the City and
County of Swansea, the following interests were declared: - Councillor C R Doyle, Councillor S A Knoyle, Rosemary Broad
and Ian Guy declared personal interests in the agenda as a whole. Karen Cobb, Jeff Dong, Jeremy Parkhouse and Melissa Perry
declared personal interests in the agenda as a whole. |
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To approve & sign the Minutes of the previous meeting(s) as a correct record. Decision: Approved. Minutes: Resolved that the Minutes of the Local Pension Board meeting held on 25 July 2023 be approved and signed as a correct record. |
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Additional documents: Decision: For information. Minutes: The Deputy Chief Finance Officer / Deputy Section 151
Officer provided ‘for information’ the draft Annual Report & Statement of Accounts
for the City & County of Swansea Pension Fund 2022/23. Officers had
presented a completed draft annual report & statement of accounts 2022/23
to Audit Wales to commence their audit.
Audit Wales had commenced their audit of the Pension Fund Draft Annual
Report & Statement of Accounts 2022/23. Their subsequent ISA report with
audit opinion and audit findings would be presented to Pension Fund Committee
at the conclusion of the audit in November 2023, alongside their delayed audit
plan. The City & County of Swansea Pension Fund Draft Annual
Report & Statement of Accounts 2022/23 were attached at Appendix 1. The Deputy Chief Finance Officer / Deputy Section 151
Officer commented upon Swansea being ranked as number 1 in the league table of
investment returns for the 3 years to 31/3/23 and were shortlisted as LGPS Fund
of the Year. Staff within the Finance
Department were thanked and congratulated for their work and commitment. |
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Decision: For information. Minutes: 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 previous Pension Fund Committee in July 2023. The details of the breaches and the actions
taken by Management were noted. |
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Exclusion of the Public. PDF 127 KB Decision: Approved. Minutes: The Board 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 Board 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. (Closed Session) |
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Internal Control Assurance Reports Review.
Decision: For information. Minutes: The Deputy Chief Finance Officer / Deputy S151 Officer
presented a ‘for information’ report of reportable items contained within the
internal control assurance reports of appointed fund managers / custodians. |
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Wales Pension Partnership - Progress Update. Decision: For information. Minutes: The Deputy Chief Finance Officer / Deputy
S151 Officer presented a ‘for information’ report to update the Pension Fund
Committee on the progress and work of the Wales Pension Partnership (WPP). |
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Report(s) of the Investment Consultant.
Decision: For information. Minutes: The Deputy Chief Finance Officer / Deputy S151 Officer presented a ‘for information’ report which provided the quarterly investment and market update to the fund, Carbon foot-printing exercise progress and an education piece on the forthcoming asset liability modelling review and investment strategy review. |
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Investment Summary.
Decision: For information. Minutes: The Deputy Chief Finance Officer / Deputy S151
Officer presented a ‘for information’ report which presented the asset valuation and investment performance for
the quarter, year and 3 years ended 30 June 2023. The Board expressed their appreciation of the work of Finance officers in producing the reports. |