Issue - meetings
2020/21 Cash flow
Meeting: 21/07/2020 - Pension Board (Item 5)
5 Pension Fund Cash Flow Forecast 2020/21 PDF 316 KB
Additional documents:
Minutes:
The Board received and noted is report is an update on the Pension Fund’s projected cash flow forecast for 2020/21 to 2022/23 from operational activities. The main points of the discussion may be summarised as follows:
The Board:
- Noted that the Fund is projecting a £0.584m projected surplus on its income and expenditure at the end of the financial year without any cash draw down from investments.
- Noted that the Fund is expecting a projected cash short fall in 2021/22, a request for cash draw down is presented .
- Was advised that a request for estimated cash drawdown of £20m from Equity Protection proceeds is being presented at the 27th July 2020 Pensions Committee meeting.
- Was informed that a significant cash flow short fall is estimated for 2021/22 and 2022/23. This is where the Fund expenditure exceeds the income from contributions.
- Welcomed the commendable reduction in the work outstanding at the end of June 2020. Which shows a considerable improvement compared with the position at the end of March 2020
- Commented that the initiative to implement the I connect system should be encouraged as this will enable data to be uploaded more easily and improve overall efficiency
Accordingly, the Chair Moved and it was:
RESOLVED to:
- Note the cash flow forecast from operational activities.