2015-02-09 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                     9 FEBRUARY 2015


4.       Capital Works Program

Year to date capital expenditure is $5.2 million against a YTD budget of $8 million. This equates to
approximately 21% completion of the current program.

 10,000,000                                                                         30,000,000

     8,000,000
                                                                                    25,000,000
     6,000,000
                                                                                    20,000,000
     4,000,000

     2,000,000                                                                      15,000,000

            0
                   Jul    Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun               10,000,000
 -2,000,000
                                                                                    5,000,000
 -4,000,000

 -6,000,000                                                                         0

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



Works have commenced internally to expedite the delivery of the capital works program for the
remainder of the year, including the streamlining of procurement processes including greater
collaboration with Localbuy. A review of the ability to deliver the current capital works program has
been undertaken, with adjustments to be made to the program as part of the December quarter
budget review.

Detailed discussion of progress in the delivery of the capital works program is provided periodically
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 January 2015 was $50.4 million, with the portfolio split across 5 institutions. Actual interest
revenue for the month was $153,239, with YTD interest revenue on cash balances at $1.3 million.
The graph on the right shows the current risk profile using industry credit ratings.
                               BENDIGO           CBA                                    A1 4%
             SUNCORP             4%              14%                       A2 4%
                4%



                         NAB
                         16%
                                                                           A1+
                                                                          (Other)
                                                                           30%                   A1+ (QTC)
                                                                                                   62%


                                          QTC
                                          62%




The current investment portfolio mix complies with Council’s investment policy parameters.

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