2015-07-21 Planning & Organisation Committee Agenda

PLANNING & ORGANISATION COMMITTEE MEETING AGENDA                                     21 JULY 2015


Capital Works Program

Capital expenditure (excluding commitments) is $15.4 million against a revised budget of $24.4
million. Detailed discussion of progress in the delivery of the capital works program is provided
periodically to the Infrastructure and Services Committee. The attached schedule of capital works
shows the financial performance detail for each program and project. The schedule includes
some projects originally budgeted as operating works, but moved to the capital program in
accordance with accounting standards.

Projects that are not yet completed will be considered for carryover into the 2015/16 financial
year, and project managers will be asked to explain budget variances as part of the review
process.


Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on
hand as at 30 June 2015 was $53.4 million. The higher than forecast cash balance includes
funding to be 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.

              Suncorp       Bendigo                          A2
                7%            4%                             4%
        NAB                                                           A1
        7%                                                            7%



                                                             A1+                    A1+
                                 QTC                        (Other)                (QTC)
            CBA                                              33%
                                 56%                                                56%
            26%




The actual interest revenue for the month was $128,816 with a weighted average yield of 2.68%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 2.17%.



Previous Council Consideration

Nil.




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