Agenda - Byron Shire Council - NSW Government

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BYRON SHIRE COUNCIL ORDINARY MEETING 9 MAY 2013 (30) 5 Report No. 12.4. Investments – March 2013 Executive Manager: Corporate Management Report Author: James Brickley, Manager Finance File No: #E2013/17233 Theme: Corporate Management, Financial Services Summary: This report includes a list of investments as at March 2013. RECOMMENDATION: 10 That Council receive and note the record of investments for the month of March 2013. Attachments: 15 Investment Valuations and Graphs March 2013 #E2013/17232 [2 pages] ............................Annexure 8(a) Denison Investment Report #E2013/23122 [10 pages] ......................................................... Annexure 8(b) Ordinary Meeting Agenda 09/05/13
BYRON SHIRE COUNCIL ORDINARY MEETING 9 MAY 2013 (31) Report 5 10 15 20 25 In relation to the investment portfolio as at 31 March 2013, Council has continued to maintain a diversified portfolio of investments. The average 90 day bank bill rate for the month of March was 3.04%. Council’s performance for the month of March is a weighted average of 3.87%. This performance is again higher than the benchmark. This is largely due to the active ongoing management of the investment portfolio, maximising investment returns through secure term deposits. Council’s investment portfolio should continue to out-perform the benchmark as the capital protected investments earning 0% interest begin to mature or are able to be switched favourably. There are still a number of Council’s capital protected investments being partially and fully allocated to an underlying zero coupon bond. This is part of the “Capital Protection Mechanism” and coupons will not be paid if any allocation is made to this bond. The current value of an investment compared to the principal value (face value or original purchase price) provides an indication of the performance of the investment without reference to the coupon (interest) rate. The current value represents the value received if an investment was sold or traded in the current market, in addition to the interest received. For the month of March, the current value of investments has remained lower than the principal amount. The table below shows a slight increase in the cumulative unrealised loss for Council along with a reconciliation of investment purchases and maturities for the period 28 February 2013 to 31 March 2013. Movement in Principal and Current Market Valuations – 28 February 2013 to 31 March 2013 Month Type Date Principal (at month end) Current Market Value (at end of month) Cumulative Unrealised Gain/(Loss) Opening Balance at 28 February 2013 59,704,113.05 59,172,343.05 (531,770.00 Add: New Investments Purchased ME Bank TD 4/3/13 2,000,000.00 2,000,000.00 0.00 Elders Rural Bank TD 4/3/13 1,000,000.00 1,000,000.00 0.00 Suncorp TD 11/3/13 1,000,000.00 1,000,000.00 0.00 Suncorp TD 11/3/13 1,000,000.00 1,000,000.00 0.00 Heritage Bank TD 11/3/13 2,000,000.00 2,000,000.00 0.00 ING Bank Australia TD 11/3/13 1,000,000.00 1,000,000.00 0.00 Bendigo & Adelaide Bank TD 21/3/13 1,000,000.00 1,000,000.00 0.00 ME Bank TD 25/3/13 2,000,000.00 2,000,000.00 0.00 Police Credit Union TD 28/3/13 2,000,000.00 2,000,000.00 0.00 CBA Business On-Line Saver Deposits Cash Various 7,516,068.43 7,516,068.43 0.00 Total Investments Purchased 20,516,068.43 20,516,068.43 0.00 Less: Investments Matured ME Bank TD 4/3/13 1,000,000.00 1,000,000.00 0.00 Elders Rural Bank TD 4/3/13 1,000,000.00 1,000,000.00 0.00 Suncorp TD 4/3/13 2,000,000.00 2,000,000.00 0.00 Suncorp TD 5/3/13 1,000,000.00 1,000,000.00 0.00 Heritage Bank TD 5/3/13 1,000,000.00 1,000,000.00 0.00 Wide Bay Australia Ltd TD 5/3/13 2,000,000.00 2,000,000.00 0.00 Ordinary Meeting Agenda 09/05/13
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Agenda - Byron Shire Council - NSW Government

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