2016-04-19 Services & Organisation Committee Agenda

SERVICES & ORGANISATION COMMITTEE MEETING AGENDA                                                     19 APRIL 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 March was $70.6 million following significant payments to contractors for
delivery of major projects through the month of March. The cash balance includes constrained
funding for capital projects still under construction, plus unspent funds from special rates and
levies.
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
           Suncorp 6%
             9%                                                                        A2
                                                                                    A1 6%
                                                                                    8%
      Westpac
       11%                                                                                            A1+
                                             QTC                                                     (QTC)
                                             49%                                                      49%
                                                                              A1+
                     NAB                                                     (Other)
                     20%                                                      37%

            CBA
            5%

The actual interest revenue for the month was $177,789 with a weighted average yield of 3.03%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 2.32%.
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 forecast sustainability ratios are met.
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


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