The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its fiscal year 2018 second quarter meetings on March 22nd, 2018 in San Francisco.
The Committee reviewed the Trust Fund’s performance for the October-February period, reviewed the FY17 Annual Audit performed by the auditor, Baker Tilly Virchow Krause, LLP, reviewed the FY17 Annual Report, and discussed the distribution policy of the Trust Fund for the post FY23 era.
As of February 28th, 2018, the market value of the Trust Fund was $389,647,054.
The third quarter meeting will take place on May 21st-22nd, via teleconference.
As provided for under the Compact of Free Association agreements, as amended (U.S. Public Law 108-188), the Trust Fund was established to contribute to the economic advancement and long-term budgetary self-reliance of the people of the Republic of the Marshall Islands when annual grant assistance under the Compact expires after fiscal year 2023.