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2017-09-18 General Committee Agenda
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GENERAL COMMITTEE MEETING AGENDA 18 SEPTEMBER 2017
Council reinvested $4 million of term deposits with Bendigo Bank during August 2017 for a
further 12-month period. During September Council is reviewing options to invest surplus funds in
accordance with the Investment Policy and in consideration of the principles of ethical
investment, preservation of capital, return on investment and counterparty thresholds. Until such
time as these funds are reinvested, they are held temporarily within Council’s general and
savings accounts with the Commonwealth Bank.
The following figures present the mix of cash held by agency (graph on the left) and by credit risk
rating (graph on the right).
Bendigo
5% A2
Suncorp A1
5%
2% 2%
QTC A1 +
41% (QTC)
41%
A1 +
CBA (Other)
52% 52%
Actual interest revenue for August was $126k with a weighted average yield of 1.79% against the
industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.70%.
Previous Council Consideration
Nil.
Finance & Risk
Finance – as above.
Risk – 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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