2014-12-15 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                              15 DECEMBER 2014


5.     Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 30 November 2014 was $54 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%

            Westpac
             22%
                                                                 A1+
                                 QTC                           (Other)              A1+
                                 52%                             41%               (QTC)
                 CBA                                                                52%
                 19%




Due to higher than estimated cash balances, the actual interest revenue for the month was
$153,435 with a weighted average yield of 3.26% against the industry benchmark (UBS Bank Bill
Index) of 2.77%.

Previous Council Consideration

Nil.

Finance & Risk

Strategic and operational risks are assessed for all significant variances to determine appropriate
actions. At this stage of the financial year there are no significant risks identified, however,
potential areas for ongoing monitoring include:

 Delivery of the capital works program (i.e. potential risk on Council service delivery);
 State and Federal Government grant programs (i.e. potential risk of funding reductions); and
 Implications regarding the final cash asset transfer from Sunshine Coast Council (risk of
   funding reductions).

Consultation

External Consultation - Community & Stakeholder

Nil.

Internal Consultation

All areas of Council are consulted as part of the regular monitoring of budget performance.




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