Decision Reference: MD-HSS-2014-0015 |
Decision Summary Title : | Management of Trust Property Assets | Date of Decision Summary: | 1 May 2014 |
Decision Summary Author: | Capital and Control Account Manager | Decision Summary: Public or Exempt? | Public |
Type of Report: Oral or Written? | Written | Person Giving Oral Report: | |
Written Report Title : | Management of Trust Property Assets | Date of Written Report: | 1 May 2014 |
Written Report Author: | Capital and Control Account Manager | Written Report : Public or Exempt? | Exempt – 3.2.1 (a) (x) |
Subject: Management of Trust Assets. |
Decision(s): The Minister accepted the investment strategy and recommendations for the Le Seelleur Trust Property Assets as detailed in the report provided by Jersey Property Holdings (JPH). The Minister authorised JPH to implement the property recommendations which include the sale of the Oxford Road workshop and 9 Chevalier Road properties in the first instance. The Minister requested that the Treasurer invest the non-property (cash) assets of the fund in the Common Investment Fund. The Minister further authorised the appointment of JPH as property manager and delegated authority to the Director of Finance for Health and Social Services to conclude a detailed agreement with JPH stipulating how rental income will be collected, property expenses will be settled, and how records on the properties will be maintained. |
Reason(s) for Decision: To ensure sufficient and appropriate management and maintenance of the assets of the trust. |
Resource Implications: Costs for work done will be charged to the trust as described above. There are no resource implications for the Health and Social Services Department. |
Action required: JPH to liaise with Health and Social Services to facilitate the actions authorised above. |
Signature: | Position: Minister for Health and Social Services |
Date Signed: | Date of Decision: |
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