1. POLICY
1.1 It is the policy of the Munro Hampton Infrastructure Fund (The Fund) to establish and maintain investment accounts for the funds donated toward the development of physical Infrastructure at Munro College and Hampton School located in St. Elizabeth, Jamaica.
2. APPLICABILITY
2.1 All funds donated to The Fund via the internet, cash, money transfer or cheque.
3. ELIGIBILITY
3.1 All Funds received.
4. GENERAL
4.1 Donations are to be invested in a conservative manner which preserves and guarantees that the principal amount is secure and exposed to no financial market risk.
4.2 Donations for Munro and Hampton are collected online in separate PayPal accounts. Separate Investment accounts shall also be maintained for Munro College and Hampton School funds, respecting the wishes of donors.
4.3 100% of the investments shall be held in Guaranteed Investment Certificates (GIC) which are fully insured by the Federal Deposit Insurance Corporation (FDIC) in Canada.
4.3 Short term funds (required in less than one year) shall be invested in cashable GICs.
4.4 Long term funds (required in greater than one year) shall be invested in long term GICs.
4.5 The Board shall approve any changes to the investment instruments or policy.
4.7 The Treasurer shall monitor and report the performance of the Fund to the Board at each monthly Board meeting.
4.8 The Treasurer shall ensure compliance with all Revenue Canada tax reporting and accounting requirements.
4.9 Donations received via The Fund’s website will be transferred from the PayPal account once per month to the Fund’s investment account so as to keep transaction costs as low as possible.
4.10 All payments from The Fund to consultants, contractors and vendors for design and construction services associated with infrastructure projects managed by The Fund, must be paid only by The Fund.
4.11 The Investment Policy shall be reviewed at least once per year.
5. EXCEPTIONS
5.1 Exceptions to this policy require the approval of the Board of The Fund.
Policy edition: 2021