TORONTO SENIORS HOUSING CORPORATION (TSHC)

INVESTMENT POLICY

Policy Owner: Finance

Approval By: Board of Directors

First approved: May 18, 2022

Effective Date: June 1, 2022

Policy Statement

The purpose of this policy is to establish investment principles and guidelines that are appropriate for the purposes of meeting the various capital, financial and other obligations of Toronto Seniors Housing Corporation (TSHC).

Scope

This policy is applicable to TSHC personnel who have been vested with the power and responsibility to transact and invest funds on behalf of the organization. This policy applies to all investments decisions and transactions.

Content

Investment decisions will prudently balance liquidity, risk, growth, and yield and produce a total return that will preserve the real purchasing power of the principal invested.

Cash that is surplus to TSHC’s current requirements may be invested in:

1. Government of Ontario or Canada Treasury Bills
2. Government of Ontario or Canada Bonds
3. Guaranteed Investment Certificates (GIC) issued by a Canadian Chartered

The maximum investment term for excess “in year” operating cash shall be for the period of up to one (1) year.

All investment transactions require the joint written approval of the Chief Executive Officer (CEO) and the Director of Finance.

Responsibilities

The CEO or designate and the Director of Finance have joint authority for transacting and investing funds on behalf of TSHC. The CEO designation of authority is to be in writing to the Director of Finance. The Director of Finance cannot designate his or her authority. The Director of Finance shall prepare a schedule of investments for presentation quarterly to the Audit and Finance and Risk Committee.

Review

The policy shall be reviewed every two years or earlier if deemed necessary by the Director of Finance and amendments shall be presented to the Audit and Finance and Risk Committee for recommendation to the Board of Directors.

Change History: