2021-04-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                                                                          12 APRIL 2021


 Category                                                                                                                             Comments
 Investment Return                                                                                                                       Intent: Ensure appropriate return
                                                                                                                                          on investment yield for cash at
                                                                                                                                          bank.
                                                                                                                                         Target: 0.25% above current
                                                                                                                                          Bloomberg commonwealth 10
                                                                                                                                          year bond rate yield (0.00%)
                                                                                                                                         Result: 0.69%
                                                                                                                                         Comment: Regardless of the
                                                                                                                                          current levels of low long term
                                                                                                                                          bond and interest rates (due to
                                                                                                                                          current economic conditions),
                                                                                                                                          Council’s investment return still
                                                                                                                                          remains above target.
 Rates in Arrears                                                                                                                        Intent: Ensuring that the amount
                                                                                                                                          of    unpaid      rates   remains
                                           12.0%
   Percentage of Annual Rates in Arrears




                                                                                                                                          sustainable and does not
                                                                                        9.6%                                   9.5%       negatively impact cash flows.
                                           10.0%

                                                   7.5%                                                                                  Target: 5% industry benchmark
                                            8.0%          6.9%                                 7.1%
                                                                 6.5%
                                                                                                      6.0% 5.8% 5.7%                     Result: 9.5%
                                                                        5.8%
                                            6.0%
                                                                               4.5%
                                                                                                                        5.0%             Comment: Arrears are at the
                                                                                                                                          high point in the cycle with
                                            4.0%
                                                                                                                                          January rates due in March.
                                            2.0%                                                                                          Reminder notices are currently
                                                                                                                                          being issued with further debt
                                            0.0%                                                                                          recovery initiatives underway.
                                                   Apr    May    Jun    Jul     Aug     Sep    Oct    Nov   Dec   Jan   Feb    Mar

                                                                               Actual           Target




Previous Council Consideration
Nil.

Finance
As above.

Risks & Opportunities
Council’s 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.

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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