2016-11-14 General Committee Meeting Notes

GENERAL COMMITTEE MEETING AGENDA                                                                14 NOVEMBER 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 October was $69.1 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
     26%
                                                                                                         A1+
                                              QTC                                                       (QTC)
                                              49%                             A1+                        49%
                                                                             (Other)
                                                                              45%

                               CBA
             NAB               8%
             11%


Actual interest revenue for September was $146,224 with a weighted average yield of 2.44%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.75%.

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 undertaken as required 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



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