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2016-10-17 General Committee Meeting Notes
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GENERAL COMMITTEE MEETING AGENDA 17 OCTOBER 2016
Cash Management and Investment Performance
Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand at the end of September was $71.9 million.
Council’s investment portfolio is balanced across a number of agencies, as shown in the graph
on the left. The graph on the right shows the current risk profile using industry credit ratings.
Bendigo A1
6% 0%
A2
6%
Westpac
25%
A1+
QTC
(QTC)
47%
A1+ 47%
(Other)
47%
NAB CBA
11% 11%
Actual interest revenue for September was $154,125 with a weighted average yield of 2.50%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.74%.
Previous Council Consideration
Nil.
Finance & Risk
Monthly financial performance is monitored across all operational areas to ensure Council’s
forecast operating result is achieved and that financial sustainability ratios are met. Ongoing
budget adjustments will be considered as part of the September and December Quarter reviews
with a primary consideration being maintenance of the operating surplus.
Consultation
External Consultation - Community & Stakeholder
Nil.
Internal Consultation
All areas of Council are consulted as part of the regular monitoring of budget performance.
Departments/Sections Consulted:
x Chief Executive Officer x Community Services x Corporate Services
Executive Officer to the Mayor & CEO Community Facilities Financial Services
Executive Support Community Development ICT
Libraries & Galleries Procurement & Fleet
Local Laws Property & Facilities
Waste & Environmental Health Revenue Services
x Executive Office x Planning & Infrastructure
Community Engagement Building & Plumbing Services
Customer Service Civil Operations
Economic Development Infrastructure Planning & Design
Governance Planning & Environment
Human Resources Strategic Land Use Planning
Sustainability
Page 52 of 67
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