Decision details

The committee was asked to approve the Lancashire County Pension Fund’sStatement of Accounts for 2013/14, as presented by George Graham, deputy county treasurer.

Regulations governing the process and delegated authority from the county council required that the chair of the committee sign off the accounts once they were approved by the committee.

The Statement of Accounts had been prepared in accordance with International Financial Reporting Standards and initial consultation with the external auditors, Grant Thornton and included details of the Fund account, the Statement of Net Assets, investment policy and performance and the actuarial valuation.

The Statement also included details of the transfer of the National Probation Service and Community Rehabilitation Companies to the Greater Manchester Pension Fund and the current position with regard to the Fund's outstanding deposit with the Icelandic Bank Landsbanki ls.

Resolved:  That the Lancashire County Pension Fund's Statement of Accounts for 2013/14 be approved and signed by the chair of the committee.