The Clutha District Council's conservative approach to its investments should see it withstand much of the turmoil surrounding world economic markets, the council's finance chief says.
Corporate services manager Alan Dickson said the council's August investment report showed returns of more than $200,000 to the coffers.
Its fixed-interest fund earned $177,336 for the month to stand at $17.37 million while the cash fund was boosted by $33,274 to sit at $4.76 million.
In the first three months of the financial year, both funds have earned the council about $445,000.
Mr Dickson told the corporate services committee the council was "pretty well insulated" from the effects of the uncertain economic climate. Half its fixed-interest money was in government stocks while the council also had nearly $5 million in cash.
"I think our conservative approach has been pretty prudent and should withstand us from the turmoil that will be out there for the next 18 months or even longer," he said.
