MEETING OF COUNCIL - Town of Cambridge

COUNCIL MINUTES
TUESDAY 27 NOVEMBER 2012
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:
Actual as at
October
2011 %
Actual as at
October
2012 %
Budget
2011/2012
Budget
2012/2013
General * $677,000 $227,933 33.7% $637,400 $215,029 33.7%
Reserves $100,000 $39,681 39.7% $165,000 $35,860 21.7%
Endowment Lands $659,900 $186,559 28.3% $550,000 $203,284 37.0%
Total Investments $1,436,900 $454,172 31.6% $1,352,400 $454,173 33.6%
* Includes Bank Account Interest of $22,512.
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 - October 2012
H:\CEO\GOV\COUNCIL MINUTES\12 MINUTES\NOVEMBER 2012\C CR.DOCX 181