Issue - meetings

With reference to article 8 of the minute of the previous meeting, the Committee had before it a report by the Head of Finance which provided details of the Management Expenses Budget/Forecast and Projected Spend 2017/18 for the North East Scotland Pension Fund (NESPF).

It was noted that there was currently an underspend in respect of staff costs due to the restrictions in place around recruitment.  Mr Whyte explained that he was in discussions with HR in respect of this.

The report recommended:-

that Committee –

(a)          note the update on the NESPF Management Expenses Budget / Forecast and Projected Spend for 2017/18;

(b)          note the update on Pension Fund staff costs and staffing vacancies; and

(c)          note the update on Direct Property Expenses and Transaction Costs shown in Appendix 1 to the report.

The Committee resolved:-

to approve the recommendations.

The Board resolved:-

to note the decision of the Committee.