The Campbelltown Council’s investment portfolio on December 31, 2024 was $249 million.
According to the investments and revenue report tabled at the first public meeting of the year on Tuesday night, council’s total liquidity “to meet short to medium term cash flow needs remains strong with $23 million held in an at call account’’.
“An amount of $11 million is held in a 31-day notice account,’’ the report said.
“This notice account offers a reasonable rate for short term deposits of 4.80 per cent which also moves in line with movements in the official cash rate.’’
The report revealed rates and charges levied for the period ending December 31, 2024 totalled $162.7 million. To the end of December, $88.1 million of these rates and charges had been collected, 54.8 percent of the total due by June 30, this year.
The Quarterly Business Review Statement was also tabled for the meeting, with Councillor Cameron McEwan querying a $300,000 budget blow out to the athletics track replacement project.
Cr McEwan was told by council officers that the full cost could only be known after the old track was dug up and inspected.
“Until the track was dug up it was not possible to know the full cost of replacement,’’ said Ben Hoyle, the council executive general manager – city placemaking and services.
The report said there was an $80,000 increase in expenditure for the Campbelltown Billabong Parklands.
“Allocation to fund the purchase of additional umbrellas to expand the shade provision following feedback from customers. Expenditure is fully funded by the equipment and asset reserve,’’ the report said.
The meeting was one of the shortest on record, lasting less than an hour.
Apologies were provided for three councillors who were unable to attend the meeting, Masud Khalil, Masood Chowdhury and Jayden Rivera.
And while we’re on apologies, the South West Voice would like to acknowledge that an earlier version of this story wrongly reported that it was Cr Adam Zahra who asked about the blow out of the athletics track project budget.
