Lane Cove Council
Services
and Resources Committee
AGENDA
DATE OF MEETING: 16 April 2007
LOCATION: Council Chambers
TIME: 8:00PM
Meetings held in the Council Chambers are recorded on tape
for the purposes of verifying the accuracy of minutes and the tapes are not
disclosed to any third party under section 12(6) of the Local Government Act,
except as allowed under section 18(1) or section 19(1) of the PPIP Act, or
where Council is compelled to do so by court order, warrant or subpoena or by
any other legislation.
Lane Cove Council business papers and minutes
are available on Council’s website www.lanecove.nsw.gov.au.
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SERVICES AND
RESOURCES COMMITTEE
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16
APRIL 2007
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ITEM REPORT
CONTENT PAGE
APOLOGIES
DECLARATIONS
OF INTEREST
CONFIRMATION OF MINUTES
1. SERVICES AND RESOURCES
COMMITTEE MEETING - 2 APRIL 2007
Corporate Services Division Reports
2. Corporate Services Division Report No. 17
SUBJECT: Statement of Investment as at 31 March 2007
3. Corporate Services Division Report No. 19
SUBJECT: Legal Expenses for March 2007
***** END OF AGENDA *****
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SERVICES AND RESOURCES COMMITTEE
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CORPORATE SERVICES DIVISION REPORT NO. 17
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16 APRIL 2007
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Services and Resources Committee at the Meeting 16 April 2007
11/04/2007 to Services and Resources Committee
Corporate Services Division Report No. 17
Subject: Statement of
Investment as at 31 March 2007
Record No: SU777 - 8557/07
Author(s): KG
Bascaran
Executive Summary
The report outlines the Council’s investment performance for the month
and it is recommended that the report be received and noted.
Discussion
The following table outlines Council’s current investments.
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DATE
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INSTITUTION
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PRINCIPAL
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DATE OF
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TERM
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RATE
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INVESTED
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MATURITY
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DAYS
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09/01/2007
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BANK WEST
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2,000,000.00
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11/04/2007
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92
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6.53%
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05/02/2007
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BANK WEST
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2,000,000.00
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07/05/2007
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91
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6.49%
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12/03/2007
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BANK WEST
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1,000,000.00
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12/06/2007
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92
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6.46%
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09/01/2007
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CITIBANK LTD
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1,000,000.00
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09/05/2007
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120
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6.53%
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26/02/2007
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CITIBANK LTD
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1,000,000.00
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28/05/2007
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91
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6.41%
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20/03/2007
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CITIBANK LTD
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1,000,000.00
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18/06/2007
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90
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6.52%
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08/03/2007
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CITIBANK LTD
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1,000,000.00
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06/06/2007
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90
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6.42%
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12/12/2006
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CITIBANK LTD
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1,000,000.00
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11/04/2007
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120
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6.51%
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19/02/2007
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IMB SOCIETY
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1,000,000.00
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19/06/2007
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120
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6.51%
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25/01/2007
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IMB SOCIETY
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1,000,000.00
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27/04/2007
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92
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6.48%
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12/03/2007
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IMB SOCIETY
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1,000,000.00
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12/06/2007
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92
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6.46%
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24/01/2007
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IMB SOCIETY
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1,000,000.00
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24/04/2007
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90
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6.57%
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12/01/2007
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IMB SOCIETY
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1,000,000.00
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12/04/2007
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90
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6.55%
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22/12/2006
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LGFS Ltd
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1,000,000.00
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23/05/2007
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152
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6.50%
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12/01/2007
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LGFS Ltd
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1,000,000.00
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12/04/2007
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90
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6.50%
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16/01/2007
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LGFS Ltd
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1,000,000.00
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16/04/2007
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90
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6.52%
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11/01/2007
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ST. GEORGE BANK
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1,500,000.00
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11/04/2007
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90
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6.40%
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22/03/2007
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ST.GEORGE BANK
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1,000,000.00
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23/04/2007
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32
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6.37%
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13/06/2006
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ST.GEORGE BANK
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1,000,000.00
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13/06/2007
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365
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6.22%
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11 AM A/C
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ST.GEORGE BANK
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2,150,000.00
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Open
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Variable
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6.15%
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23,650,000.00
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The following Withdrawal was made during the month of
March 2007. This Withdrawal was made in accordance with S.625 of the Local
Government Act, 1993 and the Local Government (Financial Management)
Regulation, 1993.
NET
INVESTMENT $ 150,000
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RECOMMENDATION
That the report “Statement of Investments as at 31
March 2007” be received and noted.
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Craig Wrightson
Executive Manager
Corporate Services Division
ATTACHMENTS:
There are no supporting documents for this report.
SRC160407CSD_17.doc
***** End of Corporate Services Division Report
No. 17 *****
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SERVICES AND RESOURCES COMMITTEE
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16
APRIL 2007
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Services and Resources Committee at the Meeting 16 April 2007
11/04/2007 to Services and Resources Committee
Corporate Services Division Report No. 19
Subject: Legal Expenses for
March 2007
Record No: SU1371 - 8606/07
Author(s): KG
Bascaran
Executive Summary
The report outlines Council’s legal expenses paid for
the last month and it is recommended that the report be received and noted.
Discussion
The following legal expenses were paid during the past
months.
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Pike Pike & Fenwick
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Previous
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Current
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Status
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Initiated
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24E Upper
Cliff Rd – LECP 10770 of 2006
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-
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$
9,617.41
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On Going
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Applicant
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1 Sirius
Rd –LECP 10523/2006
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-
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$
10,872.11
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On Going
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Applicant
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73
Carlotta St – LECP 10845 of 2006
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$ 6,825.00
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$
18,171.45
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On Going
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Applicant
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33
Greenwich Rd – LECP 10779 of 2006
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$ 12,532.18
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$
3,324.26
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On Going
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Applicant
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83
William Edward St – LECP 10828 of 2006
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$ 17,834.09
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$
5,992.13
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On Going
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Applicant
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Wiltshire Webb Solicitors
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24-28
Lane Cove Plaza LECP 40405/2005
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$ 238,273.56
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$
14,300.00
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On Going
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Third
Party
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Cutler Hughes & Harris
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LEC
Proceedings against LCC
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-
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$
11,277.75
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Final
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Applicant
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Total
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$ 73,555.11
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Budget Impact
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General
Ledger Account Details “Legal”
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Account
Number
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Budget
2006
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Actual
Expenses
2004
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Budget
Available
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Environmental
Operating Expenses
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4120.2531.254
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$110,000
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$117,070
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-$ 7,070
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Development
Health Operating Expenses
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4230.2531.254
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$20,000
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$ 2,260
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$17,740
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Corporate
Services Operating Expenses
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125.2531.254
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$12,000
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$ 10,219
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$ 1,781
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Urban
Services Operating Expenses
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5025.2531.254
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$ 5,000
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$ 4,801
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$ 199
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Planning
Services Operating Expenses
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625.2531.254
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$ 5,000
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$ -
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$ 5,000
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RECOMMENDATION
That the Legal Expenses for March 2007 be received
and noted.
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Craig Wrightson
Executive Manager
Corporate Services Division
ATTACHMENTS:
There are no supporting documents for this report.
SRC160407CSD_19.doc
***** End of Corporate Services Division Report
No. 19 *****
***** END OF AGENDA *****
