Report of the Chamberlain.
The Board considered a report of the Chamberlain regarding key risks for Bridge House Estates. There were two risks identified as relating to the services overseen by the Financial Investment Board, which Members proceeded to review. In response to Members’ queries, officers advised they would be reviewing alternatives for investing cash reserves in the autumn. Officers further undertook to amend the first risk to highlight that whilst the Board can monitor the performance of the fund managers, the volatility of financial markets cannot necessarily be mitigated by the Board.
RESOLVED – That:
a) it be confirmed that appropriate control measures are in place for the two risks currently on the register for the Financial Investment Board, relating to a potential reduction in income from non-property investments and cash balances; and
b) it be confirmed that there are no other risks relating to the services overseen by the Financial Investment Board which should be added to the Bridge House Estates risk register.