Issue - meetings

The Committee had before it a report by the Director of Resources which sought approval for the payment of the calculated surplus refund to First Glasgow as a result of exiting from the Aberdeen City Council Transport Fund (ACCTF) as a participating employer.

Members heard from Ms Colliss in relation to the report and asked a number of questions.

The report recommended:-

that the Committee –

(a)      approve the recommendation to pay First Glasgow a surplus refund of £11.8m following the termination of the admission agreement between Aberdeen City Council (as administering authority of the ACCTF) and First Glasgow; and

(b)      instruct the Chief Officer-Finance to merge the ACCTF into the main Fund in the financial year 2022/23.

The Committee resolved:-

to approve the recommendations.

The Board resolved:-

to note the decision of the Committee.