2015-01-12 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                      12 January 2015


                Bendigo
                  7%
                                                                                 A2
                                                                                 7%

               Westpac
                22%
                                                                      A1+
                                           QTC                      (Other)             A1+
                                           52%                        41%              (QTC)
                     CBA                                                                52%
                     19%




Due to higher than estimated cash balances, the actual interest revenue for the month was
$142,862 with a weighted average yield of 3.24% against the industry benchmark (UBS Bank Bill
Index) of 2.75%.
Previous Council Consideration
Nil
Finance & Risk
In December the Minister for Local Government, Community Recovery and Resilience
announced his determination in respect of the disputed cash items, with a further transfer of
$2,143,594 made on 16 December. It should be noted that this transfer of funds has no direct
impact on the 2014/15 Council budget.
A full review of all areas of Council’s budget will be undertaken over the coming weeks to
determine areas of significant variance, and to revise the forecast 30 June position. This review
will form the basis for analysis of Council’s long term financial sustainability in preparation for the
2015/16 budget development.
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     Community Services                         x   Planning & Infrastructure
      Disaster Management & Public Order             Building & Plumbing Services
      Waste & Environmental Health                   DA Planning
      Community Facilities                           Strategic Land Use Planning
      Cultural Facilities                            Asset Design & Investigations
                                                     Asset Planning
                                                     Civil Operations
                                                     Environment

x     Executive Office                           x   Corporate Services
      Community Engagement                           Finance
      Customer Service                               ICT
      Executive Support                              Procurement & Fleet
      Governance                                     Property & Facilities
      Human Resources                                Revenue Services




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