2014-10-20 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                     20 OCTOBER 2014




 4,500,000                                                         30,000,000
 4,000,000
                                                                   25,000,000
 3,500,000
 3,000,000                                                         20,000,000
 2,500,000
                                                                   15,000,000
 2,000,000
 1,500,000                                                         10,000,000
 1,000,000
                                                                   5,000,000
     500,000
          0                                                        0
                Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

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


Detailed discussion of progress in the delivery of the capital works program is provided to the
Infrastructure and Services Committee. The attached schedule of capital works shows the
specific financial performance for each program. It is noted that there are a couple of staged
projects where expenditure has been allocated against the initial stage whereas the budget has
been shown against stage 2.


5.     Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 30 September 2014 was $62.3 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                                              A1+
                32%                                               (Other)               A1+
                                      QTC
                                      53%                           40%                (QTC)
                                                                                        53%
                         CBA
                         8%




Due to higher than estimated cash balances, the actual interest revenue for the month was
$168,091 with a weighted average yield of 3.22% against the industry benchmark (UBS Bank Bill
Index) of 2.60%.




                                                                                         Page 8 of 26