2017-01-16 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                 16 JANUARY 2017


Capital Works Program

Actual capital expenditure (excluding commitments) is $5.8 million against the revised full-year
budget of $25.4 million. Committed expenditure totals a further $5.2 million bringing the total of
actual and committed funds to $11.0 million (43% of the total program).

Cash Management and Investment Performance

Council funds are invested in accordance with the adopted Investment Policy. Total cash on hand
at the end of December was $63.5 million.

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                                           A1
                      6%                                              0%
         Westpac
          13%                                                              A2
                                                                           6%


       NAB                                                      A1+
       9%                                                      (Other)
                                                                                       A1+
                                                                36%
                                   QTC                                                (QTC)
                   CBA             58%                                                 58%
                   14%




Actual interest revenue for December was $128,156 with a weighted average yield of 2.34%
against the industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.72%.

Previous Council Consideration

Nil.

Finance & Risk

Monthly financial performance is monitored across all operational areas to ensure Council’s
forecast operating result is achieved and that financial sustainability ratios are met. Ongoing budget
adjustments will be considered as part of the current budget review with a primary consideration
being maintenance of the operating surplus.

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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