Agenda item

Consideration was given to the report of the Corporate Director, Resources which informed Members of the overall value of the Pension Fund as at 30 June 2014, and of any additional sums available to the Managers for further investment, or amounts to be withdrawn from Managers (for copy see file of Minutes).

Hilary Appleton, Strategic Finance Manager - Corporate Finance informed Members that the value of the fund at 31 March 2014 was £2.129 billion showing an increase of £34m in the first quarter.  She advised that £27m had been shown in the accounts relating to a provision for the transfer value payable to Teesside Pension Fund for the bulk transfer of Durham Probation Service staff who transferred out on 1 April 2010.  The cash transfer that was made in August 2014 and should have been reflected in the cash flow forecast for the quarter ended 30 September 2014 in Appendix 1.

Resolved:

That the information given be noted.