Annual report

Local authorities in England and Wales administering a Local Government Pension Scheme (LGPS) are required to produce a Pension Fund Annual Report by 1 December each year, which includes reports on:

  • the management and financial performance of the LGPS Fund
  • investment policy and investment performance
  • the administration arrangements during the year
  • a statement by the actuary on the level of funding of the scheme
  • a governance compliance statement
  • a net asset statement and fund account for each fund
  • compliance with the pension administration strategy
  • a funding strategy statement
  • an investment strategy statement
  • a statement of policy relating to communications with members and employers
  • other appropriate material

The draft Annual Report for the year ended 31 March 2023 is attached to this page. The final version will include our auditor's opinion and will be published here in due course.

Derbyshire County Council, as the Fund’s administering authority, has released the following statements relating to the publication of the Fund’s Statement of Accounts:

Delay in publishing Audited Statement of Accounts: year ended 31 March 2023

Publication of Derbyshire County Council's Statement of Accounts and Audit Opinion

The external audit of the draft Statement of Accounts for the year ended 31 March 2023 has not yet been completed by our external auditors, Mazars LLP.

This situation is allowed for by Regulation 10, paragraph (2) of the Accounts and Audit Regulations 2015 (SI 2015/234), as amended by the Accounts and Audit (Amendment) Regulations 2022 (SI 2022/708).

This notification explains, as per Regulation 10 (2) (a), that we are not yet able to publish our audited 2022-23 Statement of Accounts in line with the publication date of 30 September 2023, as per Regulation 10 (1). The council is continuing to work closely with the external auditor to ensure the required work is completed as soon as possible. In line with the Accounts and Audit Regulations 2015, Derbyshire County Council published a draft Statement of Accounts subject to audit on 10 July 2023 and the final audited Statement of Accounts for the year ended 31 March 2023 will be published as soon as the audit is concluded, and the Independent Auditor's Report issued.

The council's Statement of Accounts 2022 to 2023 were considered by Audit Committee on 18 July 2023. The delay in publishing the audited Statement of Accounts 2022 to 2023 is primarily due to our external auditor’s need to clear a backlog of audit work from previous financial years which is impacting on the timely delivery of the 2022 to 2023 audit.

Should the result of the audit require any significant changes from the draft Statement of Accounts 2022 to 2023, these accounts will be reported back to Audit Committee for final approval.

Mark Kenyon, Director of Finance & ICT (Section 151 Officer)
Derbyshire County Council
County Hall
Matlock
DE4 3AH

Date: 30 September 2023

Delay in publishing Audited Statement of Accounts: year ended 31 March 2023

Publication of Derbyshire Pension Fund’s Statement of Accounts and Audit Opinion

The external audit of the draft Derbyshire Pension Fund’s Statement of Accounts for the year ended 31 March 2023 has not yet been completed by our external auditors, Mazars LLP, as they envisage giving their opinion in line with the proposed timeframe for issuing their audit report on Derbyshire County Council’s financial statements.

This situation is allowed for by Regulation 10, paragraph (2) of the Accounts and Audit Regulations 2015 (SI 2015/234), as amended by the Accounts and Audit (Amendment) Regulations 2022 (SI 2022/708).

This notification explains, as per Regulation 10 (2) (a), that we are not yet able to publish our audited 2022-23 Statement of Accounts in line with the publication date of 30 September 2023, as per Regulation 10 (1). The Derbyshire Pension Fund is continuing to work closely with the external auditor to ensure the required work is completed as soon as possible. In line with the Accounts and Audit Regulations 2015, the Derbyshire Pension Fund published a draft Statement of Accounts subject to audit on 10 July 2023 and the final audited Statement of Accounts for the year ended 31 March 2023 will be published as soon as the audit is concluded, and the Independent Auditor's Report issued.

The Derbyshire Pension Fund’s Statement of Accounts 2022 to 2023 were considered by Audit Committee on 18 July 2023. The delay in publishing the audited Statement of Accounts 2022 to 2023 is primarily due to our external auditor’s need to clear a backlog of audit work from previous financial years, which is impacting on the timely delivery of the 2022 to 2023 audit of Derbyshire County Council’s financial statements.

Should the result of the audit require any significant changes from the draft Statement of Accounts 2022 to 2023, the accounts will be reported back to Audit Committee for final approval.

The delay to the completion of the external audit of the draft Derbyshire Pension Fund’s Statement of Accounts for the year ended 31 March 2023 means that the publication of the Derbyshire Pension Fund Annual Report for the year ended 31 March 2023 by 1 December 2023 has also been delayed. Derbyshire Pension Fund’s Annual Report for the year ended 31 March 2023 will be published as soon as possible after the completion of external audit on the Derbyshire Pension Fund Statement of Accounts for the year ended 31 March 2023, and receipt of the Independent Auditors Report on the Statement of Accounts and the Independent Auditor’s Statement to the members of Derbyshire County Council on the Pension Fund Financial Statements included within the Derbyshire Pension Fund Annual Report.

Mark Kenyon, Director of Finance & ICT (Section 151 Officer)
Derbyshire County Council
County Hall
Matlock
DE4 3AH

Date: 30 September 2023


Our annual reports are attached to this page.

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