Agenda item

(a)          The Committee considered the update;

(b)          The Committee agreed the changes to the business plan timings for items G1 and G5 as outlined in paragraph 1.01, both of which relate to delays at a national level; and

(c)          The Committee agreed to the change to the Finance Section including a trainee fund accountant at an annual cost of £38k to £46k.

Mr Latham noted that some items had been revised in the business plan and noted the following key points on this update:

-       The Fund had not yet received the good governance review from the Department of Levelling up, Housing and Communities (“DLUHC”).

-       Paragraph 1.06 explained the outcome of the 2016 cost management process. However, there was an ongoing review by SAB in regards to the third ill health tier and potentially the consideration of contributions for lower paid members.  Details surrounding the cost management consultation were outlined in paragraph 1.07 and the government responded to this on 4 October.

-       A survey on the effectiveness of governance was also due to be shared for all Committee members to complete.

-       In regards to paragraph 1.02, in order to facilitate succession planning and as a result of workload issues within the Finance Section, Mr Latham recommended that the Fund recruit a trainee accountant to a new post in the Fund’s Finance Section.

In response to a question about the salary level for the new post, Mr Latham explained that the estimate was based on recent similar recruitment at Flintshire County Council.

When asked how the Fund could be sure that the trainee accountant would stay employed at the Fund once they become qualified, Mr Latham said that there was no certainty but hoped that the specific exposure to the Fund during the training would engender loyalty.

RESOLVED:

(a)          The Committee considered the update;

(b)          The Committee agreed the changes to the business plan timings for items G1 and G5 as outlined in paragraph 1.01, both of which relate to delays at a national level; and

(c)          The Committee agreed to the change to the Finance Section including a trainee fund accountant at an annual cost of £38k to £46k.