Agenda item

Report of the Town Clerk

The Committee considered a report of the Town Clerk reviewing the Committee’s terms of reference ahead of the next municipal year.

A Member suggested that the terms of reference should also refer to the Committee’s responsibility for considering risk profile and the adherence of fund managers, and was also missing a reference to the Committee’s self-effectiveness review measure. The Committee noted that the three Sub-Committee’s each had their own terms of reference and it might be easier to capture self-effectiveness measures in the terms of reference for the Property, Financial and Social Investment Boards. The Committee agreed to delegate the final wording of the terms of reference to the Chairman and Deputy Chairman for approval before submission to the Court of Common Council.

RESOLVED

That the Investment Committee approve the amended terms of reference as set out in the report and accounting for Members’ suggestions, with the final wording delegated to the Chairman and Deputy Chairman for approval before submission to the Court of Common Council.