Agenda item

Report of the Town Clerk.

The Chairman welcomed the report which clarified the Terms of Reference, roles and responsibilities of the Investment Committee along with its Boards and the relationship with the Policy & Resources Committee and its Resource Allocation Sub Committee as had been requested by the Committee at its last meeting.

Members discussed how the Policy & Resources Committee and its Resource Allocation Sub Committee provide the overall strategy and resources whilst the Financial Investment Board and Property Investment Board (with the Investment Committee providing oversight of both areas) undertake the operational aspects of delivering on the investment strategy.

One Member noted that it may be worth looking at whether the Investment Committee was the appropriate way to provide oversight of the financial and property investments although it was generally accepted that this was currently the best way of considering overarching matters and making joined up recommendations to the Resource Allocation Sub Committee.

RECEIVED