Pooled Investments and Accounting

February 4th, 2020

A new Regulation 24K has been added to the Local Authorities (Capital Finance and Accounting)(Wales) Regulations 2003, providing that a Welsh local authority must not charge an amount in its revenue account to reflect any fluctuation in the fair value of an investment in a pooled investment fund. Rather, such amounts must be recorded in a separate account, established, and used solely, for that purpose. This corresponds with Regulation 30K of the English 2003 Regulations, inserted in 2018.

Comments are closed.