2022-09-12 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                             12 SEPTEMBER 2022


   Figure 5: Capital Program Delivery Performance

    $10.0           $9.3                                             YTD Budget ($m)
     $9.0
                             $7.5                                    YTD Actual ($m)
     $8.0
     $7.0
     $6.0
     $5.0
     $4.0
     $3.0
     $2.0
     $1.0                                                                        $0.5
                                            $0.2      $0.1               $0.5
     $0.0
                    Capital works           Other capital               Loan redemption



   Cash Management and Investment Performance
   Total cash on hand at the end of August was $114.5 million. Included in this balance are
   funds held in trust and for restricted purposes (e.g. unexpended levy and grant funds),
   prepaid grants including the financial assistance grant and other capital works grants,
   prepayment of Waste Levy subsidy (4 years), and unspent monies committed for funding
   capital projects which are underway and will continue during the financial year.
   The following pie charts present the mix of cash held at August 2022 by agency (graph on
   the left) and by credit risk rating (graph on the right). All funds have been invested in
   accordance with the Investment Policy and in consideration of the principles of ethical
   investment, preservation of capital, return on investment and counterparty thresholds.

   Figure 6: Closing Cash Held by Agency and Credit Rating


                       NAB
                       9%



                                                             A1 +                  A1 +
              CBA                   QTC                 (Commercial Banks)
              33%                   58%                                           (QTC)
                                                             42%                   58%




   The following chart monitors the 12 month trend on total cash and the agencies invested.
   The bi-annual issue of rates and levies occurred in July, which has increased cash balances
   in July and August. Coinciding with RBA rate increases, commercial bank term deposit
   interest rates are beginning to rise and are currently offering a much higher yield than the
   QTC cash rate. During July and August, $40 million was placed in term deposits to maximise
   Council’s return on its cash holdings. These investments were made in line with Council’s
   Investment of Surplus Funds policy.




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