Lane Cove Council

 

 

 

 

 

Services and Resources Committee

 

 

 

AGENDA

 

 

 

DATE OF MEETING:          19 November 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

 

19 NOVEMBER 2007

 

 

 

ITEM                                                  REPORT CONTENT                                                PAGE

 

DECLARATIONS OF INTEREST

 

APOLOGIES

 

OPENING OF MEETING WITH PRAYER

 

CLOSED COMMITTEE ITEMS

 

CONFIRMATION OF MINUTES

 

1.      SERVICES AND RESOURCES COMMITTEE MEETING - 5 NOVEMBER 2007

 

 

Corporate Services Division Reports

 

2.       Corporate Services Division Report No. 54

SUBJECT: Statement of Investment as at 31 October 2007.

 

3.       Corporate Services Division Report No. 58

SUBJECT: Legal Expenses for October 2007

  

 

ITEMS TABLED

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

 

             


SERVICES AND RESOURCES COMMITTEE

 

CORPORATE SERVICES DIVISION REPORT NO. 54

 

19 NOVEMBER 2007

 

 

 

 

Services and Resources Committee at the Meeting 19 November 2007

13/11/2007 to Services and Resources Committee

Corporate Services Division Report No. 54

Subject:           Statement of Investment as at 31 October 2007.    

Record No:     SU777 - 34425/07

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

 

10/10/2007

BANK WEST

2,000,000.00

08/01/2008

90

6.98%

07/05/2007

BANK WEST

2,000,000.00

05/11/2007

182

6.55%

10/10/2007

BANK WEST

1,000,000.00

07/02/2008

120

7.05%

02/10/2007

BANK WEST

1,000,000.00

03/01/2008

93

6.96%

03/10/2007

BANK WEST

1,000,000.00

03/01/2008

93

6.96%

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%

16/10/2007

CITIBANK LTD

1,000,000.00

18/02/2008

125

6.99%

08/10/2007

CITIBANK LTD

1,000,000.00

10/12/2007

63

6.86%

08/10/2007

CITIBANK LTD

1,000,000.00

08/01/2008

92

6.95%

03/10/2007

CITIBANK LTD

1,000,000.00

07/01/2008

96

6.91%

19/09/2007

IMB SOCIETY

1,000,000.00

22/02/2008

123

7.02%

25/10/2007

IMB SOCIETY

1,000,000.00

25/02/2008

123

7.11%

12/06/2007

IMB SOCIETY

2,000,000.00

09/11/2007

150

6.68%

24/10/2007

IMB SOCIETY

1,000,000.00

25/02/2008

124

7.03%

12/10/2007

IMB SOCIETY

1,000,000.00

14/01/2008

94

7.03%

24/10/2007

LGFS Ltd

1,000,000.00

22/01/2008

90

6.91%

12/10/2007

LGFS Ltd

1,000,000.00

14/01/2008

94

7.02%

18/10/2007

LGFS Ltd

2,000,000.00

16/01/2008

90

7.00%

10/10/2007

ST. GEORGE BANK

1,500,000.00

08/01/2008

90

6.82%

21/09/2007

ST.GEORGE BANK

1,000,000.00

20/12/2007

90

6.81%

11/10/2007

ST.GEORGE BANK

1,000,000.00

12/11/2007

32

6.65%

11 AM A/C

ST.GEORGE BANK

   600,000.00

 Open

Variable

6.40%

 

 

27,100,000.00

 

 

 

 

 

 

 

 

 

 

The following Withdrawal was made during the month of September 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               $ 600,000

 

 

 

 

RECOMMENDATION

 

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

 

 

 

 

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

ATTACHMENTS:

There are no supporting documents for this report.

 


SERVICES AND RESOURCES COMMITTEE

 

CORPORATE SERVICES DIVISION REPORT NO. 58

 

19 NOVEMBER 2007

 

 

 

 

Services and Resources Committee at the Meeting 19 November 2007

14 November 2007 to Services and Resources Committee

Corporate Services Division Report No. 58

Subject:           Legal Expenses for October 2007    

Record No:     SU1371 - 34652/07

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 Road  LECP 10770/2006

$ 28,351.61

$ 6,325.00

On Going

Applicant

9 Gamma Rd – LECP 10461 / 2007

$   3,143.63

$ 5,500.00

On Going

Applicant

 

Cutler Hughes & Harris

 

 

 

 

Lane Cove Aquatic Centre – Legal Advice

 

$ 3,731.20

 

$ 11,388.85

 

Final

 

LCC

 

Total

 

 

$ 23,213.85

 

 

 

 

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

$ 58,036

$ 41,964

 

Development Health Operating Expenses

4230.2531.254

$20,000

$  1,484

$ 18,516

 

Corporate Services Operating Expenses

125.2531.254

$12,000

$ 2,081

$ 9,919

 

Urban Services Operating Expenses

5025.2531.254

$  3,000

$  1,739

$ 1,261

 

Planning Services Operating Expenses

625.2531.254

$  5,000

      $ -

$  5,000

 

 

 

 

 

 

 

 

RECOMMENDATION

 

That the Legal Expenses for October 2007 be received and noted

 

 

 

 

 

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

ATTACHMENTS:

There are no supporting documents for this report.

         

 


SERVICES AND RESOURCES COMMITTEE

 

19 NOVEMBER 2007

 

 

 

 

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