NORTH YORKSHIRE COUNCIL

PENSION BOARD

15 January 2026

BUDGET, CASHFLOW AND ANNUAL REPORT

Report of the Treasurer

1.0       PURPOSE OF REPORT

1.1       To update Pension Board members on the Pension Fund’s budget and costs for 2025/26, the latest cashflow forecast, and the 2024/25 statutory accounts and annual report.

2.0       LATEST DEVELOPMENTS

2.1       The latest position on the budget and costs for 2025/26, the cashflow forecast, and the 2024/25 statutory accounts and annual report was reported to the Pension Fund Committee in November 2025. The report is attached as an Appendix.

2.2       No further information is available on the 2025/26 budget and costs. On the cashflow forecast, as noted in paragraph 3.4 of the Appendix, work is ongoing to assess the impact of the 2025 valuation, which takes effect from April 2026. This will be reflected in the next forecast update to the Pension Fund Committee and Pension Board.

2.3       The audit of the statutory accounts remains ongoing but is expected to conclude before the backstop deadline of 27 February 2026. The Pension Fund’s draft annual report, published on 01 December 2025, will be updated as necessary once the audit is finalised. A verbal update on progress will be provided at the meeting.

3.0       RECOMMENDATIONS

3.1       Pension Board members to note the report.

GARY FIELDING

Treasurer to North Yorkshire Pension Fund

North Yorkshire Council

County Hall

Northallerton

18 December 2025