Wentworth Lodge Heritage Trust Fund Subcommittee Meeting – October 17, 2025 High-level summary - The subcommittee approved the agenda and Dec. 10, 2024 minutes, then unanimously adopted the 2025 Heritage Trust Fund financial recommendations, including a 75/25 split between a bank account and a GIC, authorization for the Chief Investment Officer to optimize growth, and a $20,000 allocation for resident activities. These decisions establish the fund’s liquidity, growth potential, and a focused investment in resident quality of life.

Five most important topics discussed

1) Approval of Agenda and Minutes - The meeting opened with formal approvals: the agenda and the December 10, 2024 minutes were approved unanimously. - Direct quote: “Could I get a mover and a seconder to approve the agenda if we're ready to go?” — Councillor Alex Wilson.

2) Financial Status and Investment Strategy for the Heritage Trust Fund - The primary focus was the 2025 financial status and recommended investment approach, balancing liquidity and growth. The plan targets a 75% allocation to a bank account at 2.975% and 25% to a GIC at 2.75%, with ongoing optimization opportunities. - Direct quotes: “The recommendation is 75% of the heritage fund remain in the bank account at a rate of 2.975%, and 25% be invested in a GIC at 2.75%.” — Holly Dwarti. “The chief investment officer [is] authorized to support 75% of investment terms throughout the course of the year if there's any optimization of growth to happen.” — Holly Dwarti.

3) Allocation of Funds for Resident Activities - The subcommittee approved directing $20,000 from the Heritage Trust Fund to support resident activities intended to enhance quality of life. - Direct quote: “The home has the ability for $20,000 of this money to be able to support resident activities for enhancing quality of life.” — Holly Dwarti.

4) Investment Strategy and Optimization - Discussion emphasized maintaining liquidity while pursuing growth, with the 75% portion being managed flexibly to optimize returns over the year. - Direct quote: “The chief investment officer [is] authorized to support 75% of investment terms throughout the course of the year if there's any optimization of growth to happen.” — Holly Dwarti.

5) Technical Difficulties and Quorum - The meeting experienced initial technical delays, but quorum was achieved with the arrival of John Gumbbert, allowing the meeting to proceed. - Direct quote: “So John is trying to still join us, but we do have quorum present. So, I'm being advised we can start today's agenda.” — Councillor Alex Wilson.

Public input opportunities - The section notes no explicit opportunities for public input were mentioned during this portion of the meeting. However, residents and stakeholders may have opportunities to provide feedback in future consultations regarding fund allocations and investments.

Motions and outcomes 1) Approval of Agenda - Motion: Approval of the meeting agenda. - Outcome: Passed unanimously.

2) Approval of Minutes - Motion: Adoption of the minutes from the December 10, 2024 meeting. - Outcome: Passed unanimously.

3) Financial Recommendations for the Heritage Trust Fund - Motion: Approval of the financial recommendations for the 2025 Heritage Trust Fund, including: - Keeping 75% of the fund in a bank account at 2.975%. - Investing 25% in a GIC at 2.75%. - Authorizing the Chief Investment Officer to optimize growth opportunities for the 75% portion. - Allocating $20,000 for resident activities to enhance quality of life. - Outcome: Carried (passed).

Follow-up actions - Implement the approved financial recommendations, including the 75/25 investment strategy and the $20,000 allocation for resident activities. - The Chief Investment Officer will monitor fund performance to optimize growth opportunities throughout the year.

Councillors present - Councillor Alex Wilson (Chair) - Note: Other participants listed are community members and staff; no additional councillors were identified as present in the provided materials. John Gumbbert joined later as a resident member.