ordinary meeting of council to be held on tuesday, 26 april 2005 at ...

Ordinary Meeting <strong>of</strong> Council -26 April 2005 5 / 8
Item 5
S02722
1 April 2005
Summary <strong>of</strong> Borrowings
There were no loan repayments made in March, leaving the <strong>to</strong>tal level <strong>of</strong> debt at month end <strong>to</strong>
$10,385,900. This compares <strong>to</strong> a <strong>to</strong>tal debt at 1 July 2004 <strong>of</strong> $11,850,000.
Lender
Loan
Num<strong>be</strong>r
Original
Principal
Principal
Repayments
Balance
Outstanding
Interest
Rate
Draw Down
Date
Maturity
Date
Westpac 127 $1,000,000 $577,558 $422,442 6.32% 29-Jun-98 29-Jun-08
CBA Offset No 1 128 $2,600,000 $1,430,000 $1,170,000 5.39% 29-Jun-99 13-Jun-09
CBA Offset No 2 129 $2,600,000 $1,170,000 $1,430,000 5.39% 13-Jun-00 14-Jun-10
CBA 130 $2,600,000 $732,979 $1,867,021 6.32% 26-Jun-01 28-Jun-11
NAB 131 $2,600,000 $495,310 $2,104,690 6.85% 27-Jun-02 27-Jun-12
Westpac 132 $1,882,000 $224,562 $1,657,438 5.16% 27-Jun-03 27-Jun-13
CBA 133 $1,800,000 $65,647 $1,734,353 6.36% 23-Jun-04 23-Jun-14
TOTAL $15,082,000 $4,696,056 $10,385,944
CONSULTATION
Not applicable
FINANCIAL CONSIDERATIONS
The Reserve Bank <strong>of</strong> Australia (RBA) increased the <strong>of</strong>ficial cash rate by 0.25% during March <strong>to</strong>
5.50%.
CONSULTATION WITH OTHER COUNCIL DEPARTMENTS
Not applicable.
SUMMARY
As at 31 March 2005:
• Council’s <strong>to</strong>tal investment portfolio is $19,478,100. This compares <strong>to</strong> an opening balance <strong>of</strong>
$17,271,200 as at 1 July 2004.
• Council’s General Fund interest on investments <strong>to</strong>tals $760,400. This compares favorably <strong>to</strong> the
year-<strong>to</strong>-date budget <strong>of</strong> $640,000.
• Council’s <strong>to</strong>tal debt is $10,385,900. This compares <strong>to</strong> a <strong>to</strong>tal debt <strong>of</strong> $11,850,000 as at 1 July
2004.
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