2017-05-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                     15 MAY 2017


Capital Works Program

Actual capital expenditure (excluding commitments) is $10.3 million against the revised full-year
budget of $24.6 million. Committed expenditure totals a further $8.4 million bringing the total of
actual and committed funds to $18.7 million (76% of the total program). Capital program delivery
is being monitored through the internal Capital Works Executive team.

Cash Management and Investment Performance

Council funds are currently invested in compliance with Council’s Investment Policy, with 56%
held in highly liquid investments (either held as cash or maturing within 7 days - minimum
required of 10%), and all counterparty thresholds within policy guidelines. Total cash on hand at
the end of April was $77.5 million. Included in this balance are funds held in trust and for
restricted purposes (unexpended levy and grant funds).

Council’s investment portfolio is balanced across a number of agencies, as shown in the graph
on the left. The graph on the right shows the current risk profile using industry credit ratings.

                             Bendigo                               A2
               Suncorp         5%                                  5%
                 8%
                                                                   A1
       Westpac                                                     8%
        10%                                                                        A1+
                                   QTC
                                                                                  (QTC)
                                   44%
                                                                                   44%

                                                                 A1+
                                                                (Other)
         NAB                                                     43%
         21%             CBA
                         12%


Actual interest revenue for April was $157,722 with a weighted average yield of 2.39% against
the industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.81%.

Previous Council Consideration

Nil.

Finance & Risk

Finance – as above

Risk – Council’s strategic risk register includes a number of risks that could impact on ongoing
financial sustainability. Effective budget management and reporting is an important risk mitigation
tool.




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