Council Minutes - Town of Cambridge

COUNCIL MINUTES
TUESDAY 20 DECEMBER 2011
POLICY/STATUTORY IMPLICATIONS:
The general, reserves and Endowment Lands funds are invested in accordance with the
guidelines set down in the Town’s Policy No. 3.2.5 – Investment.
FINANCIAL IMPLICATIONS:
Interest from investments represents a significant revenue item in the Council’s Budget and it is
therefore important that the Council’s investment performance is monitored closely. Detailed
monthly reports together with detailed policy investment guidelines support this.
The Investment Schedule, as circulated, provides details of the performance of each individual
investment to date. A summary of the investment performance to budget is provided below:
Budget
2010/2011
Actual as at
Nov 2010 %
Budget
2011/2012
Actual as at
Nov 2011 %
General * $544,500 $264,431 48.6% $607,000 $311,006 51.2%
Reserves $304,200 $136,340 44.8% $160,000 $48,441 30.3%
Endowment Lands $576,400 $243,671 42.3% $419,900 $232,890 55.5%
Total Investments $1,425,100 $644,442 45.2% $1,186,900 $592,337 49.9%
* Includes Bank Account Interest of $33,805 and Ocean Mia late settlement penalty interest of
$2,823.
STRATEGIC DIRECTION:
The investment of Council funds is consistent with the Strategic Plan's key area of Capacity to
Delivery and its goal of financial sustainability by ensuring strategies are in place for
maintaining the Town's wealth and revenue capacity.
COMMUNITY CONSULTATION:
The investment of Council funds is consistent with the Strategic Plan's key area of Capacity to
Delivery and its goal of financial sustainability by ensuring strategies are in place for
maintaining the Town's wealth and revenue capacity.
ATTACHMENTS:
1. Oakvale Consolidated Investment Report - November 2011.
COUNCIL DECISION:
(COMMITTEE AND ADMINISTRATION RECOMMENDATION)
Moved by Cr Langer, seconded by Cr Carr
That the Investment Schedule as at 30 November 2011 forming part of the Notice Paper
be received.
Carried 8/0
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