Agenda item

Report of the Town Clerk

The Committee considered a report of the Town Clerk asking the Committee to review its terms of reference.

A Member queried whether the wording of the Committee’s terms of reference could be more specific, particularly with regard to paragraph (d) and the Committee’s recommendations to the Resource Allocation Sub Committee, and to the terms of reference for each of the Investment Boards. The Chamberlain advised that this could be taken away to consider whether more precise wording might be appropriate.

The Committee agreed to delegate authority to the Town Clerk, in consultation with the Chairman and Deputy Chairman, to agree any revisions for onward submission to the Policy & Resources Committee and Court of Common Council, as appropriate.

Members then discussed whether it continued to be appropriate to submit all the minutes of Board meetings to the Grand Committee in hard copy. As the minutes were for information only, and Members of the Committee considered Board minutes for approval at their respective Board meetings, it was suggested that going forward, the Board minutes be circulated electronically.

RESOLVED – That the Investment Committee:

a)    Note the report; and

b)    Accounting for feedback from Members, delegate authority to the Town Clerk in consultation with the Chairman and Deputy Chairman, to agree any revisions to the terms of reference for onward submission to the Policy & Resources Committee and Court of Common Council, as appropriate.