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CDF will attend parish secretary day today 24th August and so will be absent from 12 Noon until 2pm.
The Board is responsible to the Trustees for oversight of the CDF exercising its duties in accordance with specific policy statements relating to strategic planning, financial management, resource provisions, administration and personnel.
The Board is composed of a chairman and a minimum of five other members all of whom are appointed by the Archbishop. Meetings of the Board are held bi-monthly with extraordinary meetings as required. An Investment sub-committee and Policy & Audit sub-committee meet at least three times per year.
The CDF primary investment strategy is to lend funds to â€˜build the Churchâ€™. To this end funds are lent to Archdiocesan parishes, schools and agencies for the refurbishment and building of new facilities. In addition, the CDF lends to Catholic entities that operate in the Health and Aged Care sectors.
Funds not immediately required for development projects are invested in Bank Bills through the Catholic Church Investment Service (CCIS). From time to time the Board may authorise longer term investments in term deposits or managed portfolios of composite government bonds or bank bills.
An investment with the CDF is designed for those parishioners who wish to promote the activities of the Catholic community and for whom considerations of profit are not of primary relevance in their investment decision. Investors should be aware that the CDF is not subject to the normal requirement to have a prospectus and a trust deed under the Corporation Law and the CDF is not subject to the provision of the Corporation Act 2001 nor has it been examined or approved by the Australian Securities & Investments Commission. The CDF is not prudentially supervised by the Australian Prudential Regulation Authority and contributions to the CDF do not obtain the benefit of the Deposition Protection Provisions of the Banking Act 1959. The Roman Catholic Archbishop of Canberra & Goulburn has indemnified the CDF against any liability arising out of a claim by investors.