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Agenda

Services and Resources

Committee Meeting

19 October 2009, 8:00pm

 


 

Notice of Meeting

 

Dear Councillors

 

Notice is given of the Services and Resources Committee, to be held Council Chambers, Lower Ground Floor, 48 Longueville Road, Lane Cove on Monday 19 October 2009 commencing at 8:00pm. The business to be transacted at the meeting is included in this business paper.

 

Yours faithfully



Peter Brown

General Manager

 

Council Meeting Procedures

 

The Services and Resources Committee meeting is chaired by Councillor Scott Bennison. Councillors are entitled to one vote on a matter. If votes are not unanimous the delegations of the Committee require that the matter be referred to Council for determination. Minutes of Council and Committee meetings are published on Council’s website www.lanecove.nsw.gov.au by 5pm of the Thursday following the meeting.

 

The Meeting is conducted in accordance with Council's Code of Meeting Practice. The order of business is listed in the Agenda on the next page. That order will be followed unless the Committee resolves to modify the order at the meeting. This may occur for example where the members of the public in attendance are interested in specific items of the agenda.

 

Members of the public may attend the Meeting and address the Committee on any issue.   Speakers and Councillors will not enter into general debate or ask questions.

 

If you do not understand any part of the information given above; require assistance to participate in the meeting due to a disability; or wish to obtain information in relation to Council, please contact Council’s Manager Governance on 99113525.

 

Please note 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.

 

 

 


Services and Resources Committee 19 October 2009

 

TABLE OF CONTENTS

 

 

 

DECLARATIONS OF INTEREST

 

APOLOGIES

 

 

CONFIRMATION OF MINUTES

 

1.      SERVICES AND RESOURCES - 6 OCTOBER 2009

 

 

Corporate Services Division Reports

 

2.       Corporate Services Division Report No. 55

SUBJECT: Statement of Investments as at 30 September 2009

 

3.       Corporate Services Division Report No. 56

SUBJECT: Legal Expenses for  September 2009  

 

 

 

                   


Services and Resources Committee Meeting 19 October 2009

 

Corporate Services Division Report No. 55

 

 

 

 

 

Reference:    Corporate Services Division Report No. 55

Subject:          Statement of Investments as at 30 September 2009    

Record No:    SU777 - 40538/09

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

 

11/09/2009

Allied Irish Bank PLC

1,000,000.00

10/03/2010

180

5.00%

8/09/2009

Allied Irish Bank PLC

1,000,000.00

9/03/2010

182

5.10%

8/09/2009

Allied Irish Bank PLC

1,000,000.00

8/03/2010

181

5.05%

14/09/2009

Allied Irish Bank PLC

1,000,000.00

15/03/2010

182

4.98%

2/07/2009

AMP Banking Ltd

1,000,000.00

29/12/2009

180

4.50%

7/07/2009

AMP Banking Ltd

1,000,000.00

4/01/2010

181

4.50%

31/07/2009

AMP Banking Ltd

1,000,000.00

27/01/2010

180

4.50%

1/09/2009

AMP Banking Ltd

1,000,000.00

1/03/2010

181

4.50%

15/04/2009

Arab Bank Australia

1,000,000.00

12/10/2009

180

4.20%

11/06/2009

BANK WEST

2,000,000.00

9/10/2009

120

4.00%

6/07/2009

CITIBANK  LTD

1,000,000.00

7/10/2009

93

4.30%

20/07/2009

CITIBANK  LTD

1,000,000.00

17/11/2009

120

4.25%

8/07/2009

CITIBANK  LTD

1,000,000.00

6/10/2009

90

4.21%

5/08/2009

CITIBANK  LTD

1,000,000.00

4/01/2010

152

4.50%

7/09/2009

CITIBANK  LTD

1,000,000.00

5/01/2010

120

4.70%

10/06/2009

COMMONWEALTH

500,000.00

7/12/2009

180

4.00%

3/07/2009

Elders Rural Bank Ltd

1,000,000.00

3/11/2009

123

4.40%

29/09/2009

IMB SOCIETY

1,000,000.00

26/02/2010

150

4.60%

6/07/2009

IMB SOCIETY

1,000,000.00

7/10/2009

93

4.25%

9/09/2009

IMB SOCIETY

1,000,000.00

7/01/2010

120

4.40%

21/07/2009

IMB SOCIETY

1,000,000.00

19/10/2009

90

4.25%

11/06/2009

IMB SOCIETY

1,000,000.00

9/10/2009

120

4.25%

15/09/2009

Macquarie Bank

1,000,000.00

14/12/2009

90

4.10%

7/07/2009

Macquarie Bank

2,000,000.00

5/10/2009

90

4.25%

11/08/2009

ST.GEORGE BANK

1,000,000.00

9/11/2009

90

4.05%

11/09/2009

ST.GEORGE BANK

1,000,000.00

10/12/2009

90

4.31%

11Am A/C

ST.GEORGE BANK

900,000.00

Open

Variable

2.90%

 

 

28,400,000.00

 

Weighted

Average

   4.37%

 

The following Investment was made during the month of September 2009. 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     $ 1,400,000

 

 

 

RECOMMENDATION

 

That the report “Statement of Investments as at 30 September 2009” be received and noted.

 

 

 

 

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

ATTACHMENTS:

There are no supporting documents for this report.

 


Services and Resources Committee Meeting 19 October 2009

 

Corporate Services Division Report No. 56

 

 

 

 

 

Reference:    Corporate Services Division Report No. 56

Subject:          Legal Expenses for  September 2009    

Record No:    SU1371 - 40950/09

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.

 

Maddocks

Previous

Current

Status

Initiated

Austin Street Development Building Management Advice

$45,499.22

$8,769.53

On Going

LCC

Marsdens Law Group

Advice on Contractual Dispute – Fuel Supply

-

$3,200.82

On Going

LCC

Wilshire Webb

Development Application Advice

22-24 Lane Cove Plaza

-

$2,638.90

Final

LCC

 

Total                                                   $ 14,609.25

                                                                                                   ==========

 

Budget Impact

 

 

 

 

 

 

General Ledger Account Details “Legal”

Account

Number

Budget

2009-2010

Actual

Expenses

2009-2010

Budget

Available

Environmental Operating Expenses

4120.2531.254

$ 150,000

$ 25,331

$ 124,669

Development Health Operating Expenses

4230.2531.254

$ 10,000

$ 5,349

$ 4,651

Corporate Services Operating Expenses

125.2531.254

$ 12,000

$ 1,554

$ 10,446

Urban Services Operating Expenses

5025.2531.254

$ 5,000

$ 4,069

$ 931

Swimming Pools Operating Expenses

2525.2531.254

$ 100,000

$ 94,744

$ 5,256

Human Services Operating Expenses

1025.2531.254

$ 5,000

$ 431

$ 4,569

Planning Operating Expenses

625.2531.254

$ 5,000

$ -

$ 5,000

 

RECOMMENDATION

 

That the Legal Expenses for September 2009 be received and noted.

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

ATTACHMENTS:

There are no supporting documents for this report.