Financial Performance Report – June 2023 · Financial Performance Report

GENERAL COMMITTEE MEETING                                                        17 JULY 2023




The following chart monitors the 12 month trend on total cash and the agencies invested. To
maximise the return on in its cash holdings Council has invested $50 million in higher yielding
term deposits. These investments were made in line with Council’s Investment of Surplus Funds
policy.

Figure 7: 12 Month Trend of Cash Invested by Agency




Quarterly Supplementary Information - Cash Components

An update detailing the composition of Council’s cash reserves is provided quarterly. Council’s
cash balance comprises a number of components – restricted cash (reserves), committed cash,
financial sustainability requirements and unrestricted cash. These are outlined below.

Restricted Cash - In accordance with Council’s Management of Restricted Cash Policy, funds
are set aside and restricted for a specific purpose. This can be either to meet regulatory
requirements, allocate against specific future projects and activities, and to ensure sufficient
working capital to meet current and long term financial obligations.