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2018-09-17 General Committee Agenda
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GENERAL COMMITTEE MEETING AGENDA 17 SEPTEMBER 2018
The following chart monitors the year-to-date trend on total cash and the agencies invested.
During August, total cash increased due to the payment of July rates and levies. To ensure
optimal return in accordance with the Investment Policy, $10 million was invested during August
within a range of NAB term deposits and a further $10 million committed in early September with
Suncorp bank. Also, a $4 million 12-month term deposit held with Bendigo bank matured during
August. This was immediately reinvested for a further 12-month period.
Figure 7: Year to Date Trend of Cash Invested by Agency
100,000,000.00
90,000,000.00
80,000,000.00
70,000,000.00
60,000,000.00
50,000,000.00
40,000,000.00
30,000,000.00
20,000,000.00
10,000,000.00
-
Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18
QTC Bendigo Westpac NAB Suncorp CBA
Actual interest revenue for July was $147k with a weighted average yield of 2.5%, which reflects
a positive return compared to the industry benchmark (Bloomberg AusBond Bank Bill Index) of
1.9%.
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.
Page 44 of 48
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