27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)
27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)
27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)
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<strong>Ordinary</strong> <strong>Meeting</strong> <strong>of</strong> <strong>Council</strong> - <strong>27</strong> <strong>February</strong> <strong>2007</strong> 4 / 3<br />
Item 4<br />
S0<strong>27</strong>22<br />
13 <strong>February</strong> <strong>2007</strong><br />
• Allocation <strong>of</strong> Surplus Funds<br />
This represents the mix or allocation <strong>of</strong> surplus funds with each <strong>of</strong> <strong>Council</strong>’s Fund Managers<br />
and direct securities.<br />
<strong>Council</strong>’s Investment Policy requires that not more than 35% <strong>of</strong> funds are to be with any one<br />
Fund Manager. All funds are kept below this required level <strong>of</strong> 35%.<br />
Management <strong>of</strong> General Fund Bank Balance<br />
During January, <strong>Council</strong> had a net outflow <strong>of</strong> funds <strong>of</strong> $4,700,000. This was as a result <strong>of</strong><br />
significant payments being made for waste contracts and the NSW fire Brigade levy.<br />
Management <strong>of</strong> General Fund Bank Balance<br />
$800,000<br />
$600,000<br />
$400,000<br />
$200,000<br />
-$200,000<br />
$0<br />
-$400,000<br />
Jan-07<br />
Days in Month<br />
Funds Performance against the UBS Bank Bill Index<br />
The weighted average return for the total portfolio year to date was 8.52% compared to the<br />
benchmark <strong>of</strong> the UBS Bank Bill Index <strong>of</strong> 6.32%.<br />
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