2016-02-08 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                               8 FEBRUARY 2016


Capital Works Program

Actual capital expenditure (excluding commitments) is $13.2 million against the current full-year
budget of $32.4 million. It is noted that the program is proposed to increase to $35.6m following
the December quarter budget review, with the most significant variation relating to the $2.8m
purchase of environmental land at Lake Cooroibah (as per Council resolution in November
2015). Committed expenditure totals a further $10.5 million bringing the total of actual and
committed funds to $23.7 million (67.2% of the total program once adjusted to account for the
land purchase). Detailed discussion of progress in the delivery of the capital works program is
provided quarterly to the Infrastructure and Services Committee.

Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 31 January 2016 was $59.7 million. The cash balance includes constrained funding
carried forward for capital projects still under construction, plus unspent funds from special rates
and levies.

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
                  7%
                                                                        A2
                                                                  A1    7%
                 Suncorp                                         13%
      Westpac                                                                       A1+
                  13%              QTC
       0%                                                                          (QTC)
                                   46%
                NAB                                                                 46%
                13%
                                                                  A1+
                                                                 (Other)
                      CBA                                         34%
                      21%



The actual interest revenue for the month was $133,461 with a weighted average yield of 2.73%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 2.35%.


Previous Council Consideration

Nil

Finance & Risk

Monthly financial performance is monitored across all operational areas to ensure Council’s
forecast operating result is achieved.




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