NAMBUCCA SHIRE COUNCIL

 

 

ORDINARY COUNCIL MEETING - 11 JULY 2012

 

LATE AGENDA                                                                                        Page

 

 

 

   

9        General Manager Report

9.3     Investment Report to 30 June 2012..................................................................................... 2    

 

 


      


Ordinary Council Meeting                                                                                                      11 July 2012

General Manager's Report

ITEM 9.3      SF394              110712         Investment Report to 30 June 2012

 

AUTHOR/ENQUIRIES:     Faye Hawthorne, Accountant         

 

Summary:

 

The total return on investments from 1 July 2011 to 30 June 2012 is $1,057,213.

 

Accrued Interest due to 30 June 2012 is $613,136.

 

Total interest accrued to 30 June 2012 is $1,670,349.

                                     

The budget allocation for “2011/12” is $1,700,000.

 

Council currently has $31.9 Million invested:

·      $5.09 Million with Managed Funds,

·      $0.7 Million with On call accounts,

·      $24.6 Million on term deposits,

·      $1 Million in a Floating Rate Term Deposit

·      $0.5 M in a Floating Rate Note.

 

This report details all the investments placed during June and Council funds invested as at 30 June 2012.

 

The following investment report has been drawn up in accordance with the Local Government Act 1993 (as amended), the Regulations and Council Policy 1.9 – Investment of Surplus Funds

 

C P Doolan

Responsible Accounting Officer

 

 

 

Recommendation:

 

That the Accountants’ Report on Investments placed to 30 June 2012 be noted.

 

 

INVESTMENTS MATURED & INTEREST & RETURNS 1 TO 30 JUNE  2012

 

 

 

Term Deposits/Bank Bills

 

 

 

 

 

 

Institution

 Amount

Period (Days)

Rate

 Interest

 

 

 

 

 

BCU

 $1,066,847.97

366

6.45%

 $69,000.22

 

 

 

 

 

Bendigo/Adelaide

 $750,000.00

367

6.25%

 $47,131.85

 

 

 

 

 

Managed Funds

 

 

 

 

 

 

 

 

 

Institution

Amount

Period (Days)

Performance for Month

Returns This Month

Annualised Performance FYTD

Returns FYTD

 

 

 

UBS Wealth M'ment Aust Ltd

$199,613.59

31

0.64%

$1,589.81

6.58%

$8,825.17

Interest Paid Daily each Quarter

ANZ (On call)

 $658,500.74

31

0.34%

 $3,569.43

4.38%

 $58,500.74

 

 

 

Macquarie Global Income Opportunity

 $3,524,293.09

31

0.35%

 $12,347.20

2.95%

 $101,683.65

 

 

 

Long Term Funds

 

 

 

 

 

 

 

Institution

Amount

Period (Days)

Performance for Month

Monthly change in net asset value

Change in net asset value LTD

Coupons Paid to Date

Annualised Performance FYTD

 

 

NSW Treasury Corp

 $949,487.03

31

-0.63%

-$5,999.54

-$85,955.92

N/A

-0.68%

 

 

Averon II*

 $422,900.00

31

-0.19%

-$800.00

-$77,100.00

 $28,396.10

1.67%

 

 

Floating Rate Term Deposits/Notes

 

 

 

 

 

 

Institution

Amount

Period (Days)

Performance for Month

Monthly change in net asset value

Change in net asset value LTD

Coupons Paid to Date

Annualised Performance FYTD

 

 

ING

 $502,595.00

31

0.00%

 $ -  

 $ -  

 $ -  

0.00%

Coupons paid Quarterly

Investec Bank

$1,000,000.00

31

6.40%

 $16,657.53

 $16,657.53

 $ -  

0.00%

 

 

 


 

INVESTMENTS HELD AT 30 JUNE 2012

 

 

 

 

 

 

Institution

 

 Amount

 Date Invested

Period (Days)

Maturity Date

Interest for month

Interest

 Interest Due at maturity

BCCU - No 1

A2

$566,072.38

03/03/12

159

09/08/12

2,721.80

5.85%

 $14,425.54

BCCU - No 2

A2

$723,112.14

27/05/12

365

27/05/13

3,922.64

6.60%

 $47,725.40

BCCU - No 3

A2

$1,135,848.19

02/06/12

292

21/03/13

4,901.26

5.25%

 $47,705.62

IMB - No 1

A2

$1,021,024.93

02/02/12

217

06/09/12

4,674.34

5.57%

 $33,811.03

IMB - No 2

A2

$1,064,117.33

19/03/12

108

05/07/12

5,072.78

5.80%

 $18,262.00

IMB - No 3

A2

$800,000.00

14/06/12

217

17/01/13

3,235.07

4.92%

 $23,400.33

Bendigo & Adel.- No 1

A-

$1,060,535.47

14/04/11

469

26/07/12

5,404.37

6.20%

 $84,488.36

Bank of Qld - No 1

BBB+

$611,526.80

23/02/12

273

22/11/12

2,864.96

5.70%

 $26,071.15

Bank of Qld - No 2

BBB+

$1,000,000.00

20/04/12

153

20/09/12

4,849.32

5.90%

 $24,731.51

Bank of Qld - No 3

BBB+

$700,000.00

14/06/12

301

11/04/13

2,905.48

5.05%

 $29,151.64

ME Bank

BBB

$1,024,049.32

08/03/12

224

18/10/12

4,965.94

5.90%

 $37,079.00

NAB - No 3

AA-

$1,072,443.58

05/07/11

731

05/07/13

5,694.23

6.46%

 $138,749.52

NAB - No 4

AA-

$1,173,534.96

09/02/12

188

15/08/12

5,690.84

5.90%

 $35,662.60

NAB - No 5

AA-

$837,485.59

17/05/12

215

18/12/12

3,696.41

5.37%

 $26,490.93

NAB - No 6

AA-

$1,173,486.09

09/12/11

370

13/12/12

5,275.86

5.47%

 $65,069.00

NAB - No 7

AA-

$1,034,982.74

19/01/12

182

19/07/12

5,018.96

5.90%

 $30,448.34

NAB - No 8

AA-

$800,000.00

30/06/12

173

20/12/12

4,201.64

6.39%

 $24,229.48

Suncorp - No 1

A+

$936,292.15

03/05/12

189

08/11/12

4,232.55

5.50%

 $26,665.09

Westpac - No 1

AA-

$913,025.85

12/01/12

182

12/07/12

4,487.58

5.98%

 $27,224.68

AMP(CPG) - No 1

A

$1,000,000.00

30/06/11

368

02/07/12

5,136.99

6.25%

 $63,013.70

AMP(CPG) - No 3

A

$500,000.00

09/09/11

731

09/09/13

2,465.75

6.00%

 $60,082.19

AMP(CPG) - No 4

A

$500,000.00

09/09/11

731

09/09/13

2,465.75

6.00%

 $60,082.19

ING Bank (Aust) Ltd -

A

$500,000.00

26/03/12

213

25/10/12

2,523.29

6.14%

 $17,915.34

Rabobank(Aust)-No.1

AA

$500,000.00

23/04/12

1827

24/04/17

2,630.14

6.40%

 $160,175.34

Rabobank(Aust)-No.2

AA

$1,000,000.00

30/03/12

365

30/03/13

5,876.71

7.15%

 $71,500.00

Rabobank(Aust)-No.3

AA

$500,000.00

25/11/11

1827

25/11/16

2,547.95

6.20%

 $155,169.86

ANZ

AA

$1,000,000.00

20/06/12

372

27/06/13

3,569.43

5.00%

 $50,958.90

ING Bank (Aust) Ltd

A

$1,500,000.00

13/12/11

1829

15/12/16

7,779.45

6.31%

 $474,287.26

ING Bank (Aust) Ltd

A

$502,595.00

26/04/12

1426

22/03/16

2,747.06

6.65%

 $130,576.93

Investec Bank Australia

BBB-

$1,000,000.00

29/05/12

90

27/08/12

4,545.21

5.53%

 $13,635.62

ANZ (On Call)

At call

$658,500.74

30/06/12

31

31/07/12

3,569.43

4.50%

 $2,516.74

Macquarie Income

A

$3,524,293.09

30/06/12

31

31/07/12

12,347.20

5.21%

 $15,594.76

UBS Wealth  Aust Ltd

At Call

$199,613.59

30/06/12

31

31/07/12

1,589.81

4.50%

 $762.91

NSW Treasury Corp

A

$949,487.03

30/06/12

31

31/07/12

-5,999.54

0.00%

 $ -  

Averon II

A

$422,900.00

30/06/12

31

31/07/12

-800.00

0.00%

 $ -  

TOTAL

 

 $31,904,926.97

 

 

 

 $136,810.66

 

 $2,037,662.97

 


 

 

 

 

 


 

OPTIONS:

 

This report is for information only.

 

 

DISCUSSION:

 

This report details all the investments placed during June 2012 and Council funds invested as at 30 June 2012.

 

 

CONSULTATION:

 

Grove Research and Advisory

 

 

SUSTAINABILITY ASSESSMENT:

 

Environment

 

There are no environmental implications.

 

Social

 

There are no social implications.

 

Economic

 

There are no economic implications.

 

Risk

 

That Council may not meet its budget returns for 2011/2012 based on current performance.

 

 

FINANCIAL IMPLICATIONS:

 

Direct and indirect impact on current and future budgets

 

A review of budgeted interest returns for 2011/2012 will be completed with the June 2012 Budget Review and GPG Research & Advisory will provide Council with the updated interest rates.

 

Source of fund and any variance to working funds

 

Interest on investments will be assessed with the June 2012 Budget Review.  Variances will be distributed between the Water, Sewerage and General Funds for the third and fourth quarters of the financial year.

 

 

 

Attachments:

There are no attachments for this report.