2021-01-18 General Committee Meeting Agenda

GENERAL COMMITTEE MEETING AGENDA                                                                                                               18 JANUARY 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 (0.11%)
                                                                                                                                  Result: 0.96%
                                                                                                                                  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
                                           12.00%
   Percentage of Annual Rates in Arrears




                                                                                                                                    sustainable and does not
                                           10.00%                                                                                   negatively impact cash flows
                                                                                                                                  Target: 5% industry benchmark
                                            8.00%
                                                                                                                                  Result: 5.8%
                                            6.00%                                                                                 Comment: Following issue of
                                                                                                                                    reminder notices in September,
                                            4.00%
                                                                                                                                    rates arrears have reduced and
                                            2.00%
                                                                                                                                    is in line with performance for the
                                                                                                                                    same period in previous years.
                                            0.00%
                                                    Jan   Feb   Mar   Apr    May     Jun   Jul   Aug   Sep   Oct   Nov   Dec

                                                                            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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