Toronto Investment Board
The full agenda, as filed
All 5 items in the clerk’s order. Each carries the city’s own words: the staff recommendation, what the body decided, and its status. Nothing below is written by us.
IB1.1received
Changes to Conflict of Interest Legislation
Valerie Jepson, Integrity Commissioner, City of Toronto, will provide a brief verbal update and answer questions from Toronto Investment Board members about changes to conflict of interest legislation.
The Toronto Investment Board received the item for information.
IB1.2adopted
Proposed 2019 Schedule of Toronto Investment Board Meetings
In accordance with Section 25 of the Toronto Investment Board Procedures By-law, regular meetings of the Board are determined by the Board and a schedule of those meetings shall be publicly available by the first Board meeting in each calendar year. Traditionally, the Toronto Investment Board's meetings are held in the afternoon in the committee rooms on the second floor of Toronto City Hall (100 Queen Street West). On December 4, 5, and 13, 2018, City Council approved the 2019 annual schedule of meetings for City Council and its Committees. Please note that the meeting schedule is available on the City of Toronto's website at www.toronto.ca/council .
The Toronto Investment Board: 1. Approved the following meeting dates for 2019: - Thursday April 11 - Wednesday June 12 - Wednesday September 25 - Friday December 13
Staff recommendation as filed
That the Toronto Investment Board approve the following meeting dates for 2019: - Thursday April 11 - 3:00 p.m. in Committee Room 1 - Wednesday June 12 - 2:00 p.m. in Committee Room 3 - Wednesday September 25 - 2:00 p.m. in Committee Room 3 - Friday December 13 - 2:00 p.m. in Committee Room 2
IB1.3adopted
Sinking Fund and Long Term Fund - Portfolio Update
As required by the City of Toronto's Investment Policy, the purpose of this report is to provide the Toronto Investment Board with the following: 1. A schedule of Sinking Fund deposits as well as debt maturity dates and amounts for 2019; 2. The performance of the Sinking Fund and Long Term Fund during 2018; 3. The actual earned investment income in 2018 to be transferred to the City for operating purposes; 4. The expected earned investment income in 2019 to be transferred to the City for operating purposes based on the City's Operating Budget approved by City Council; and 5. Investment Policy and Plan Compliance reports for 2018 and the first two months of 2019.
The Toronto Investment Board received the report (March 28, 2019) from the Executive Director, Corporate Finance, for information.
Staff recommendation as filed
The Executive Director, Corporate Finance recommends that: 1. The Toronto Investment Board receive this report for information.
IB1.4amended
This report provides an update on the actions taken by Corporate Finance staff with regard to the selection of investment managers since the last meeting of the Toronto Investment Board on November 13, 2018.
The Toronto Investment Board: 1. Authorized its Vice Chair to act as an alternate to the Chair for the execution of agreements with the firms selected by the Toronto Investment Board as Investment Managers.
Staff recommendation as filed
The Executive Director, Corporate Finance recommends that: 1. The Toronto Investment Board receive this report for information.
IB1.5deferred
Investment Policy - Environmental, Social, and Governance Review
City Council has directed the Executive Director, Corporate Finance, to review sections of the Statement of Investment Policy and Procedures for the City of Toronto Investment Funds (Investment Policy) pertaining to Environmental, Social, and Governance (ESG) factors and to consult with a number of relevant industry stakeholders, including the Toronto Investment Board, and report back to the Executive Committee in the first quarter of 2019. The purpose of this report is to summarize the ESG provisions contained in the Investment Policy and to solicit advice from the Board and other stakeholders on how these provisions can be enhanced.
The Toronto Investment Board: 1. Deferred consideration of the item until a future meeting of the Toronto Investment Board.
Staff recommendation as filed
The Executive Director, Corporate Finance recommends that: 1. The Toronto Investment Board receive this report for information.