2014-11-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                       17 NOVEMBER 2014


     8,000,000                                                       29,000,000

     6,000,000                                                       24,000,000

     4,000,000                                                       19,000,000

     2,000,000                                                       14,000,000

            0                                                        9,000,000
                   Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
 -2,000,000                                                          4,000,000

 -4,000,000                                                          -1,000,000

 -6,000,000                                                          -6,000,000

            Budget           Actual   Accum Budget (RHS)   Accum Actual (RHS)


The dip in the October budget represents the change in the budget expenditure profile whereby
projects have been reallocated from the first 3 months across the remaining 9 months of the
year.

Detailed discussion of progress in the delivery of the capital works program has been provided to
the Infrastructure and Services Committee. The attached schedule of capital works shows the
specific financial performance for each program.


5.       Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 31 October 2014 was $56.5 million, with the portfolio split across the following
agencies. The graph on the right shows the current risk profile using industry credit ratings.

                   Bendigo
                     7%
                                                                                  A2
                                                                                  7%


                                          QTC
                                          50%                                               A1+
                 Westpac                                               A1+                 (QTC)
                  35%                                                (Other)                50%
                                                                       43%

                             CBA
                             8%




Due to higher than estimated cash balances, the actual interest revenue for the month was
$170,970 with a weighted average yield of 3.38% against the industry benchmark (UBS Bank Bill
Index) of 2.72%.




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