2020-12-14 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                                                          14 DECEMBER 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 (0.11%)
                                                                                                                                         Result: 0.52%
                                                                                                                                         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
                                                12.00%
                                                                                                                                          remains sustainable and
        Percentage of Annual Rates in Arrears




                                                10.00%                                                                                    does not negatively
                                                                                                                                          impact cash flows
                                                 8.00%
                                                                                                                                         Target: 5% industry
                                                                                                                                          benchmark
                                                 6.00%
                                                                                                                                         Result: 6.0%
                                                 4.00%
                                                                                                                                         Comment: Following
                                                                                                                                          issue of reminder notices
                                                 2.00%
                                                                                                                                          in September, rates
                                                 0.00%                                                                                    arrears have reduced and
                                                         Dec   Jan   Jan   Feb    Mar     Apr   May   June   July   Aug   Sep   Oct       is in line with performance
                                                                                                                                          for the same period in
                                                                                 Actual         Target
                                                                                                                                          previous years.


     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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