2017-02-13 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                             13 FEBRUARY 2017


Capital Works Program

Actual capital expenditure (excluding commitments) is $6.4 million against the revised full-year
budget of $25.4 million. Committed expenditure totals a further $6.1 million bringing the total of
actual and committed funds to $12.5 million (49% of the total program). The Council has recently
established a number of Project Control groups to have oversight of capital works delivery to
ensure a smooth delivery of the program. An update on the delivery of the capital works program
is expected for the March round of meetings.

Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand at the end of January was $67.3 million, which recognises payments received from the half-
yearly rates levy.

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
         Westpac     6%                                            0%
          9%                                                            A2
                                                                        6%
       NAB
       12%
                                                             A1+
                                                            (Other)                A1+
                                  QTC                        40%                  (QTC)
                                  54%                                              54%
                CBA
                19%




Actual interest revenue for December was $128,650 with a weighted average yield of 2.37%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.83%.

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 current budget review with a primary
consideration being maintenance of the operating surplus.

Consultation

External Consultation - Community & Stakeholder

Nil.




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