Lane Cove Council

 

 

 

 

 

Services and Resources Committee

 

 

 

AGENDA

 

 

 

DATE OF MEETING:          15 October 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

 

15 OCTOBER 2007

 

 

 

ITEM                                                  REPORT CONTENT                                                PAGE

 

DECLARATIONS OF INTEREST

 

APOLOGIES

 

CONFIRMATION OF MINUTES

 

1.      SERVICES AND RESOURCES COMMITTEE MEETING - 2 OCTOBER 2007

 

 

Corporate Services Division Reports

 

2.       Corporate Services Division Report No. 49

SUBJECT: Statement of Investments as at 30 September 2007

 

3.       Corporate Services Division Report No. 50

SUBJECT: Legal Expenses for September 2007

  

 

ITEMS TABLED

***** END OF AGENDA *****

 

             


SERVICES AND RESOURCES COMMITTEE

 

CORPORATE SERVICES DIVISION REPORT NO. 49

 

15 OCTOBER 2007

 

 

 

 

Services and Resources Committee at the Meeting 15 October 2007

10 October 2007 to Services and Resources Committee

Corporate Services Division Report No. 49

Subject:           Statement of Investments as at 30 September 2007    

Record No:     SU777 - 30104/07

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

 

DATE

INSTITUTION

PRINCIPAL

DATE OF

TERM

RATE

INVESTED

 

 

MATURITY

DAYS

 

10/07/2007

BANK WEST

2,000,000.00

10/10/2007

92

6.54%

07/05/2007

BANK WEST

2,000,000.00

05/11/2007

182

6.55%

10/09/2007

BANK WEST

1,000,000.00

10/10/2007

30

7.09%

30/08/2007

BANK WEST

1,000,000.00

02/10/2007

33

6.92%

03/09/2007

BANK WEST

1,000,000.00

03/10/2007

30

6.97%

07/08/2007

CITIBANK LTD

1,000,000.00

05/11/2007

90

6.65%

27/09/2007

CITIBANK LTD

1,000,000.00

25/01/2008

120

7.01%

18/06/2007

CITIBANK LTD

1,000,000.00

16/10/2007

120

6.53%

06/09/2007

CITIBANK LTD

1,000,000.00

08/10/2007

32

6.93%

10/07/2007

CITIBANK LTD

1,000,000.00

08/10/2007

90

6.48%

03/09/2007

CITIBANK LTD

1,000,000.00

03/10/2007

30

6.95%

19/09/2007

IMB SOCIETY

1,000,000.00

22/10/2007

33

6.90%

27/07/2007

IMB SOCIETY

1,000,000.00

25/10/2007

90

6.64%

12/06/2007

IMB SOCIETY

2,000,000.00

09/11/2007

150

6.68%

23/07/2007

IMB SOCIETY

1,000,000.00

24/10/2007

93

6.54%

12/07/2007

IMB SOCIETY

1,000,000.00

12/10/2007

92

6.55%

23/05/2006

LGFS Ltd

1,000,000.00

24/10/2007

154

6.50%

12/09/2007

LGFS Ltd

1,000,000.00

12/10/2007

30

7.12%

20/06/2007

LGFS Ltd

1,000,000.00

18/10/2007

120

6.52%

12/06/2007

ST. GEORGE BANK

1,500,000.00

10/10/2007

120

6.45%

21/09/2007

ST.GEORGE BANK

1,000,000.00

20/12/2007

90

6.81%

11/09/2007

ST.GEORGE BANK

1,000,000.00

11/10/2007

30

6.90%

11 AM A/C

ST.GEORGE BANK

2,200,000.00

 Open

Variable

6.40%

 

 

27,700,000.00

 

 

 

 

 

 

 

 

 

The following Investment was made during the month of September 2007. This Investment was made in accordance with S.625 of the Local Government Act, 1993 and the Local Government (Financial Management) Regulation, 1993.

 

 

                                                NET INVESTMENT               $ 1,900,000

 

 

 

 

 

 

 

RECOMMENDATION

 

That the report “Statement of Investments as at 30 September 2007” be received and noted.

 

 

 

 

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

 

ATTACHMENTS:

There are no supporting documents for this report.

SRC151007CSD_49.doc

*****   End of Corporate Services Division Report No. 49   *****

 


SERVICES AND RESOURCES COMMITTEE

 

15 OCTOBER 2007

 

 

 

 

Services and Resources Committee at the Meeting 15 October 2007

10 October 2007 to Services and Resources Committee

Corporate Services Division Report No. 50

Subject:           Legal Expenses for September 2007     

Record No:     SU1371 - 30143/07

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

24 Flaumont Ave  Riverview

$ 9,417.21

$ 600.00

On Going

LCC

24E Upper Cliff Road  LECP 10770/2006

$ 26,860.01

$ 1,491.60 

On Going

Applicant

33 Greenwich Rd – LECP 10779/2006

$ 47,550.10

$ 629.92

Final

Applicant

23 Mars Rd – Legal Advice

$ 1,552.10

$ 632.50

Final

Applicant

9 Gamma Rd – LECP 10461 / 2007

Nil

3,143.63

On Going

Applicant

 

Wilshire Webb Solicitors

 

 

 

 

24-28 Lane Cove Plaza – LECP 40405/2005

 

$267,967.62

 

$ 3,617.90

 

On Going

 

Third Party

 

Total

 

 

$ 10,115.55

 

 

 

 

Budget Impact

 

 

 

 

 

 

General Ledger Account Details “Legal”

Account

Number

Budget

  2008

Actual

Expenses

2007-2008

Budget

Available

Environmental Operating Expenses

4120.2531.254

$100,000

$ 23,031

$ 76,969

 

Development Health Operating Expenses

4230.2531.254

$20,000

$  -

$20,000

 

Corporate Services Operating Expenses

125.2531.254

$12,000

$ 1,455

$ 10,9545

 

Urban Services Operating Expenses

5025.2531.254

$  3,000

$  1,430

$ 1,570

 

Planning Services Operating Expenses

625.2531.254

$  5,000

      $ -

$  5,000

 

 

 

 

 

RECOMMENDATION

 

That the Legal Expenses for September 2007 be received and noted

 

 

 

 

 

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

 

ATTACHMENTS:

There are no supporting documents for this report.

SRC151007CSD_50.doc

*****   End of Corporate Services Division Report No. 50   *****

         

***** END OF AGENDA *****