Report of the Treasurer.

Contact: James Walton (01743 258915)

1.      That the Letter of Representation be approved and signed by the Chairman and submitted by the Treasurer.

2.      That the finalised Statement of Accounts 2016/17 be approved and signed by the Chairman and the Treasurer.

3.      That the Annual Governance Statement 2016/17 be approved.

Mr J. Walton, Treasurer (WME) presented the Letter of Representation, the Statement of Accounts 2016/17 and the Annual Governance Statement 2016/17 for the West Mercia Energy Joint Committee. 

For the benefit of new Joint Committee members, the Treasurer provided an explanation of the pension deficit, an update on the next valuation, the Shropshire County Pension Fund and how contributions were calculated. 

Members of the Joint Committee agreed that a longer term plan was needed to reduce the deficit as there was some concern that it may impact on WME.  It was agreed that each representative take these issues back to their respective Chief Executives requesting that they examine the area in more detail and to try to come up with a longer term solution.  In response, the Treasurer explained that WME mostly dealt with public sector who understood the accounting practices used. 

RESOLVED: 

1.           That the Letter of Representation be approved and signed by the Chairman and submitted by the Treasurer.

2.           That the finalised Statement of Accounts 2016/17 be approved and signed by the Chairman and the Treasurer.

          3.           That the Annual Governance Statement 2016/17 be approved.