Agenda item

The report - which summarised the LGA’s overall financial performance and performance against the Memorandum of Understanding with DCLG about the use of RSG over the period from 1 April to 30 September 2015 - was moved without further comment.

In the discussion that followed, Members queried the financial sustainability indicators, with specific focus on the pension liabilities.  With reference to the fact that the Board had yet to receive a briefing note on Layden House as requested at the previous meeting, they reiterated the need for further information be circulated to provide the Board with assurance that the issue was being appropriately considered and steps taken to manage it.  It was noted that this needed to be in good time in advance of the re-evaluation in 2016. 

Officers provided assurances that management of the pension liabilities was being progressed and that an options appraisal would be submitted to Board following receipt of external tax advice. 

Decision

The IDeA Board approved the six-month monitoring report and requested that a report on the management of the pension liabilities be submitted to Board Members.