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Meeting papers
OUR FINANCES
Page 474 of 476
OUR FINANCES
Measure Measure
Investment return 0.25% above benchmark (UBS Bank Bill index) ‘Rate arrears ratio <5%
Purpose Purpose —
es Se a Measures the efficiency of Council's collection of rates and charges
1.0%
15%
_ of i inn i > aN
Ea Oo ~ =
0.2% / q i i a i aS ae ss
Juy Aug Sept Oct Nov Dec Jan Feb Mar Apr May June
a Ry ing Sept Oct “Wor Dic lin “Fab, May J
With interest rates and long-term bond rates continuing to rise, Council has uly ae — Se Oa) nae ar Apr 7 a
invested surplus cash into higher yielding term deposits to maximise returns on its
cash holdings. Council has consistently achieved returns above target (0.25% Comment
above the Bloomberg bond rate (March 2023: 3.44%), with the exception of Rates arrears are in line with performance for the previous 6 and 12 monthly
February which fell below target due to the timing of cash receipts from the cycles. Where appropriate recovery action will be taken.
January rates issue. Management will continue to monitor investment
opportunities and may look to invest further surplus cash in line with Council's
investment policy to maximise returns.
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