Extraordinary Council Meeting
24 May 2016
Subject:†††††††† Investment Report April 2016 for the former Ashfield Council †
File Ref:†††††††† 16/4718/57868.16 ††††††††
Prepared By: Myooran Vinayagamoor Ė Chief Financial Officer, Ashfield †
Authorised By: Gabrielle Rennard - A/Director Corporate and Community Services, Ashfield
In accordance with the requirements of Clause 212 of the Local Government (General) Regulation 2005, Council is provided with a listing of all investments made pursuant to Section 625 of the Local Government Act 1993 and held as at 30 April 2016.
THAT the Investment Report for April 2016 be received and noted.
Clause 212 of the Local Government (General) Regulation 2005 requires that a report be presented to Council each month listing all investments with certification from the Responsible Accounting Officer.
Councilís cash at bank and investments as at 30 April 2016 amounted to $28,272,517.97. It should be noted that the amount currently invested represents all of Councilís external and internal restrictions (i.e. grants, section 94 funds, loans, etc.) as well as cash flow requirements.
The movement of cash and investments during the month of April 2016 is as follows:
Cash at Bank and Investments as at 31 Mar 2016††††††††† $28,872,367.71
Increase/ (Decrease) during the month of Apr 2016†††††† $(599,849.74)
Cash at Bank and Investments as at 30 Apr 2016†††††††††† $28,272,517.97
Book Value of Investments††††††††††††††††††††††††††††††††††††††††††††† $26,518,573.74
Cash at Bank††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††††† $1,753,944.23
In April 2016, the cash at bank and call deposits decreased by $599,849 representing a net cash outflow for maintaining Councilís activities during the month. This was mainly due to the mismatch in timing between the receipt of a large proportion of Councils income and expenditure being relatively constant.
OTHER STAFF COMMENTS
I certify that the investments have been made in accordance with the Local Government Act 1993 (as amended), the Local Government (General) Regulation 2005 and the Councilís Investment Policy adopted in April 2015 at the Council Meeting.
Investment Summary Report April 2016