Council Minutes - Town of Cambridge

More documents

Recommendations

Info

COUNCIL MINUTES TUESDAY 28 AUGUST 2012 COUNCIL DECISION: (COMMITTEE AND ADMINISTRATION RECOMMENDATION) Moved by Cr Langer, seconded by Cr Walker That in accordance with Regulation 13 of the Local Government (Financial Management) Regulations 1996, the schedule of accounts, as detailed below and attached, be confirmed: (i) CHEQUE PAYMENTS Date From Date To Details Amount Municipal Fund 01-July-2012 02-July-2012 044229 - 044234 $1,491.85 Municipal Fund 03-July-2012 06-July-2012 044235 - 044361 $285,723.40 Municipal Fund 07-July-2012 12-July-2012 044362 - 044414 $150,456.06 Municipal Fund 20-July-2012 20-July-2012 044415 - 044490 $385,594.74 Municipal Fund 25-July-2012 27-July-2012 044491 - 044545 $254,783.68 Golf Course 01-July-2012 31-July-2012 000176 -000181 $1,501.41 Total Cheque Payments $1,079,551.14 (ii) ELECTRONIC FUND TRANSFERS (EFT'S) Date From Date To Details Amount Investments 01-July-2012 31-July-2012 INV00414 - INV00418 $2,500,000.00 Direct Bank Charges 01-July-2012 31-July-2012 Sup 154 - Sup 156 $83,231.28 Accounts Payable 01-July-2012 05-July-2012 E 7315 - E7413 $349,271.28 Accounts Payable 06-July-2012 11-July-2012 E 7414 - E 7488 $321,278.86 Accounts Payable 12-July-2012 19-July-2012 E 7489 - E 7548 $283,439.64 Accounts Payable 20-July-2012 27-July-2012 E 7549 - E 7616 $284,911.48 Accounts Payable 30-July-2012 30-July-2012 E 7617 - E7618 $227,616.42 Golf Course 01-July-2012 19-July-2012 E00136 - E00137 $52,855.38 Golf Course 20-July-2012 22-July-2012 E00138 - E00139 $23,316.69 Golf Course 23-July-2012 31-July-2012 E00140 - E00140 $25,427.48 Payroll 01-July-2012 31-July-2012 Pay 440 - Pay 451 $1,616,066.64 Total EFT Payments $5,767,415.15 Carried 9/0 TOTAL PAYMENTS $6,846,966.29 H:\CEO\GOV\COUNCIL MINUTES\12 MINUTES\AUGUST 2012\C CR.DOCX 183
COUNCIL MINUTES TUESDAY 28 AUGUST 2012 CR12.133 INVESTMENT SCHEDULE - JULY 2012 PURPOSE OF REPORT: To advise the Council of the amount of surplus funds invested, the distribution of those funds and the financial performance of each investment (ie interest earned) year to date. BACKGROUND: Council’s Investment Policy No. 3.2.5 allows for investing of funds into direct investment products and managed funds which comply with both the credit risk rating and terms to maturity guidelines as set out in the policy. DETAILS: Investment Portfolio Performance At its August 2012 meeting, the Reserve Bank of Australia decided to maintain the cash rate at 3.50% for a second month. The Reserve Bank observed that global growth has weakened after having picked up in early 2012. The European economy continues to remain weak although on a brighter note China's slow down in economic growth appears to have stopped. On the domestic front, the Australian economy's growth is close to trend, the labour market experienced moderate growth and the unemployment rate remains low. Retail sales over the past few months have surged and business credit growth has been strong since early 2012. Given these positive economic trends, the Reserve Bank has decided to keep interest rates on hold although some of the major Australian banks economists believe that further interest rate cuts will be made in the coming months In terms of the Town’s investment portfolio, interest rates being obtained over the short term of three months are around 4.8% with the major banks. Interest rates for securities for periods six months are around 4.85%. The UBS Bank Bill Index rate (an index measuring performance of interest rates over a 90 day period) was 3.50% for July 2012. The 90 day BBSW or Bank Bill Swap rate (a measure of future interest rates) was 3.58% at 31 July 2012. As the Council’s investment portfolio is predominantly short term cash products, the cash rate of 3.50% for July 2012 is the more appropriate performance measure. Against these interest rate indicators, the Town's investment portfolio outperformed the cash rate with a weighted average interest rate of 5.38%. The weighted average investment period of 142 days (approximately five months) compares favourably with term deposit rates (with the major Australian banks) which for this period was an average of 4.8%. H:\CEO\GOV\COUNCIL MINUTES\12 MINUTES\AUGUST 2012\C CR.DOCX 184
Page 1 and 2:
Council Minutes 28 AUGUST 2012
Page 3 and 4:
COUNCIL MINUTES TUESDAY 28 AUGUST 2
Page 5 and 6:
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50:
Page 51 and 52:
Page 53 and 54:
Page 55 and 56:
Page 57 and 58:
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
Page 67 and 68:
Page 69 and 70:
Page 71 and 72:
Page 73 and 74:
Page 75 and 76:
Page 77 and 78:
Page 79 and 80:
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136: COUNCIL MINUTES TUESDAY 28 AUGUST 2
Page 185: COUNCIL MINUTES TUESDAY 28 AUGUST 2
Page 211 and 212: COUNCIL MINUTES 28 AUGUST 2012 10.
Page 213 and 214: COUNCIL MINUTES 28 AUGUST 2012 •
Page 215 and 216: COUNCIL MINUTES 28 AUGUST 2012 COMM
Page 217 and 218: COUNCIL MINUTES 28 AUGUST 2012 (ii)
Page 219 and 220: COUNCIL MINUTES 28 AUGUST 2012 COUN
show all

Council Minutes - Town of Cambridge

Create successful ePaper yourself

Delete template?

Save as template?