2019-03-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                    18 MARCH 2019


Figure 6: Closing Cash Held by Agency and Credit Rating


                       Bendigo                                                      A3
          Suncorp        5%                                                      (Bendigo)
                                                                             A1
            5%                                                                      5%
                                                                          (Suncorp)
        NAB                                                                  5%
        8%
                                                                            A1 +
       CBA                                                              (CBA + NAB +
       11%                                                                Wpac)…

                                                                                                   A1 +
                                                                                                  (QTC)
                                         QTC
                                                                                                   71%
                                         71%




The following chart monitors the year-to-date trend on total cash and the agencies invested.
Payments received in February from bi-annual rates generated a significant increase in cash,
which was has been invested in short term QTC deposits in line with Council’s Investment Policy.
In addition, a $2 million held in commercial term deposit with NAB matured and was utilised to fund
operating and capital expenditure requirements.

Figure 7: Year to Date Trend of Cash Invested by Agency

  90,000,000


  80,000,000


  70,000,000


  60,000,000


  50,000,000


  40,000,000


  30,000,000


  20,000,000


  10,000,000


          -
              Mar-18   Apr-18 May-18 Jun-18    Jul-18   Aug-18 Sep-18    Oct-18   Nov-18 Dec-18   Jan-19    Feb-19

                Bendigo TD       Westpac TD      NAB TD        Suncorp TD         CBA TD     QTC           CBA Operating



Actual interest revenue for February was $157k with a weighted average yield of 2.6%, which
reflects a positive return compared to the industry benchmark (Bloomberg AusBond Bank Bill
Index) of 2.3%.

Previous Council Consideration
Nil.

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