2021-06-14 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                                                                           14 JUNE 2021


 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 (0.00%)
                                                                                                                                         Result: 0.48%
                                                                                                                                         Comment: Regardless of the
                                                                                                                                          current levels of low long term
                                                                                                                                          bond and interest rates (due to
                                                                                                                                          current economic conditions),
                                                                                                                                          Council’s investment return still
                                                                                                                                          remains above target.
 Rates in Arrears                                                                                                                        Intent: Ensuring that the amount
                                                                                                                                          of    unpaid    rates    remains
                                           12.0%
   Percentage of Annual Rates in Arrears




                                                                                                                                          sustainable and does          not
                                                                        9.6%                                     9.5%                     negatively impact cash flows.
                                           10.0%
                                                                                                                                         Target: 5% industry benchmark
                                            8.0%                               7.1%                                     7.4%
                                                   6.5%
                                                                                        6.0% 5.8% 5.7%                         6.2%      Result: 6.2%
                                                          5.8%
                                            6.0%                                                          5.0%                           Comment: Following issue of
                                                                 4.5%
                                                                                                                                          reminder notices in April, rates
                                            4.0%
                                                                                                                                          arrears are reducing and are in
                                            2.0%
                                                                                                                                          line with performance for the
                                                                                                                                          previous 6 monthly cycle.
                                            0.0%
                                                   Jun    Jul    Aug    Sep     Oct     Nov   Dec   Jan   Feb    Mar    Apr    May

                                                                               Actual          Target




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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