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.


SERVICES AND RESOURCES COMMITTEE

 

16 APRIL 2007

 

 

 

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 *****

 

             


SERVICES AND RESOURCES COMMITTEE

 

CORPORATE SERVICES DIVISION REPORT NO. 17

 

16 APRIL 2007

 

 

 

 

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.

DATE

INSTITUTION

PRINCIPAL

DATE OF

TERM

RATE

INVESTED

 

 

MATURITY

DAYS

 

09/01/2007

BANK WEST

2,000,000.00

11/04/2007

92

6.53%

05/02/2007

BANK WEST

2,000,000.00

07/05/2007

91

6.49%

12/03/2007

BANK WEST

1,000,000.00

12/06/2007

92

6.46%

09/01/2007

CITIBANK LTD

1,000,000.00

09/05/2007

120

6.53%

26/02/2007

CITIBANK LTD

1,000,000.00

28/05/2007

91

6.41%

20/03/2007

CITIBANK LTD

1,000,000.00

18/06/2007

90

6.52%

08/03/2007

CITIBANK LTD

1,000,000.00

06/06/2007

90

6.42%

12/12/2006

CITIBANK LTD

1,000,000.00

11/04/2007

120

6.51%

19/02/2007

IMB SOCIETY

1,000,000.00

19/06/2007

120

6.51%

25/01/2007

IMB SOCIETY

1,000,000.00

27/04/2007

92

6.48%

12/03/2007

IMB SOCIETY

1,000,000.00

12/06/2007

92

6.46%

24/01/2007

IMB SOCIETY

1,000,000.00

24/04/2007

90

6.57%

12/01/2007

IMB SOCIETY

1,000,000.00

12/04/2007

90

6.55%

22/12/2006

LGFS Ltd

1,000,000.00

23/05/2007

152

6.50%

12/01/2007

LGFS Ltd

1,000,000.00

12/04/2007

90

6.50%

16/01/2007

LGFS Ltd

1,000,000.00

16/04/2007

90

6.52%

11/01/2007

ST. GEORGE BANK

1,500,000.00

11/04/2007

90

6.40%

22/03/2007

ST.GEORGE BANK

1,000,000.00

23/04/2007

32

6.37%

13/06/2006

ST.GEORGE BANK

1,000,000.00

13/06/2007

365

6.22%

11 AM A/C

ST.GEORGE BANK

2,150,000.00

 Open

Variable

6.15%

 

 

23,650,000.00

 

 

 

 

 

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

 

 

 

 

 

RECOMMENDATION

 

That the report “Statement of Investments as at 31 March 2007” be received and noted.

 

 

 

 

 

 

 

 

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   *****

 


SERVICES AND RESOURCES COMMITTEE

 

16 APRIL 2007

 

 

 

 

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.

 

Pike Pike & Fenwick

Previous

Current

Status

Initiated

 

24E Upper Cliff Rd – LECP 10770 of 2006

-

$   9,617.41

On Going

Applicant

 

1 Sirius Rd –LECP 10523/2006

-

$     10,872.11

On Going

Applicant

 

73 Carlotta St – LECP 10845 of 2006

$ 6,825.00

$     18,171.45

On Going

Applicant

 

33 Greenwich Rd – LECP 10779 of 2006

$ 12,532.18

$     3,324.26

On Going

Applicant

 

83 William Edward St – LECP 10828 of 2006

$ 17,834.09

$    5,992.13

On Going

Applicant

Wiltshire Webb Solicitors

 

 

 

 

 

24-28 Lane Cove Plaza LECP 40405/2005

$ 238,273.56

$    14,300.00

On Going

Third Party

 

 

Cutler Hughes & Harris

 

 

 

 

 

LEC Proceedings against LCC

-

$   11,277.75   

Final

Applicant

 

Total

 

$  73,555.11

 

 

 


 

Budget Impact

 

 

 

 

 

 

General Ledger Account Details “Legal”

Account

Number

Budget

  2006

Actual

Expenses

2004

Budget

Available

Environmental Operating Expenses

4120.2531.254

$110,000

$117,070

-$ 7,070

 

Development Health Operating Expenses

4230.2531.254

$20,000

$  2,260

$17,740

 

Corporate Services Operating Expenses

125.2531.254

$12,000

$ 10,219

$  1,781

 

Urban Services Operating Expenses

5025.2531.254

$  5,000

$ 4,801

$  199

 

Planning Services Operating Expenses

625.2531.254

$  5,000

      $ -

$  5,000

 

 

 

 

RECOMMENDATION

 

That the Legal Expenses for March 2007 be received and noted.

 

 

 

 

 

 

 

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 *****