2017-04-18 General Committee Agenda

GENERAL COMMITTEE MEETING AGENDA                                                   18 APRIL 2017


Capital Works Program

Actual capital expenditure (excluding commitments) is $9.1 million against the revised full-year
budget of $25.4 million. Committed expenditure totals a further $6.5 million bringing the total of
actual and committed funds to $15.5 million (61% of the total program). There are a number of
changes to the composition of the program proposed which will be subject of a separate report to
this meeting.

Cash Management and Investment Performance

Council funds are currently invested in compliance with Council’s Investment Policy, with 56%
held in highly liquid investments (either held as cash or maturing within 7 days - minimum
required of 10%), and all counterparty thresholds within policy guidelines. Total cash on hand at
the end of March was $82.6 million. Included in this balance are funds held in trust and for
restricted purposes (unexpended levy and grant funds).

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                               A2
              Suncorp                                              5%
                               5%
                7%
                                                                    A1
       Westpac                                                      7%
        10%                                                                        A1+
                                  QTC                                             (QTC)
                                  41%                                              41%


                                                                  A1+
        NAB                                                      (Other)
        22%                                                       47%
                         CBA
                         15%


Actual interest revenue for March was $166,074 with a weighted average yield of 2.30% against
the industry benchmark (Bloomberg AusBond Bank Bill Index) of 1.80%.

Previous Council Consideration

Nil

Finance & Risk

Finance – as above

Risk – Council’s strategic 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.



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