2020-02-17 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                              17 FEBRUARY 2020


Category                                                        Comments
Investment Return                                                  Intent:   Ensure      appropriate
                                                                     return on investment yield for
                                                                     cash at bank.
                                                                   Target: 0.25% above current
                                                                     Bloomberg commonwealth 10
                                                                     year bond rate yield (February =
                                                                     0.97%)
                                                                   Target Date: Ongoing
                                                                   Result: 1.55%
                                                                   Comment: Regardless of the
                                                                     steady decline in long term
                                                                     bond rates (due to international
                                                                     market     factors),    Council’s
                                                                     investment return still remains
                                                                     above target
Rates in Arrears                                                   Intent: Ensuring that the
                                                                     amount of unpaid rates remains
                                                                     sustainable and does not
                                                                     negatively impact cash flows
                                                                   Target: 5% industry benchmark
                                                                   Target Date: Ongoing
                                                                   Result: 5.6%
                                                                   Comment: Arrears % slightly
                                                                     above target. Debt recovery
                                                                     measures are continuing.




Previous Council Consideration
Nil.

Finance
As above.

Risks & Opportunities
Council’s risk register includes a number of risks that could impact on ongoing financial
sustainability. Effective budget management and reporting is an important risk mitigation tool.

Consultation
External Consultation - Community & Stakeholder
Nil.

Internal Consultation
All areas of Council are consulted as part of the regular monitoring of budget performance.




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