Agenda

Services and Resources

7 December 2009, 8:00pm

Notice of Meeting

Dear Councillors

Notice is given of the Services and Resources Committee Meeting, to be held Council Chambers, Lower Ground Floor, 48 Longueville Road, Lane Cove on Monday 7 December 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 Meeting 7 December 2009
Corporate Services Division Report No. 67

Reference: Corporate Services Division Report No. 67

Subject: Statement of Investments as at 30 November 2009

Record No: SU777 - 47600/09

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%
9/10/2009	BANK WEST	2,000,000.00	8/03/2010	150	5.20%
9/10/2009	BANK WEST	2,000,000.00	8/02/2010	122	5.05%
12/10/2009	BANK WEST	1,000,000.00	11/01/2010	91	5.05%
7/10/2009	CITIBANK LTD	2,000,000.00	14/01/2010	99	4.52%
6/10/2009	CITIBANK LTD	1,000,000.00	8/02/2010	125	4.50%
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%
3/11/2009	Elders Rural Bank Ltd	1,000,000.00	01/02/2010	90	5.00%
29/09/2009	IMB SOCIETY	1,000,000.00	26/02/2010	150	4.60%
7/10/2009	IMB SOCIETY	2,000,000.00	14/01/2010	99	4.52%
9/09/2009	IMB SOCIETY	1,000,000.00	7/01/2010	120	4.40%
19/10/2009	IMB SOCIETY	1,000,000.00	18/12/2009	60	4.50%
9/10/2009	IMB SOCIETY	1,000,000.00	14/01/2010	97	4.52%
15/09/2009	Macquarie Bank	1,000,000.00	14/12/2009	90	4.10%
11/09/2009	ST.GEORGE BANK	1,000,000.00	10/12/2009	90	4.31%
11Am A/C	ST.GEORGE BANK	1,700,000.00	Open	Variable	3.40%
		29,200,000.00		Weighted Average	4.62%

The following Withdrawal was made during the month of November 2009. This Withdrawal was made in accordance with S.625 of the Local Government Act, 1993 and the Local Government (Financial Management) Regulation,1993.

NET WITHDRAWAL $ 900,000.00

RECOMMENDATION

That the report “Statement of Investments as at 30 November 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 7 December 2009
Corporate Services Division Report No. 69

Reference: Corporate Services Division Report No. 69

Subject: Legal Expenses for November 2009

Record No: SU1371 - 47625/09

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.

Thomson Playford Cutlers

Previous

Current

Status

Initiated

Lane Cove Aquatic Centre

330,625.254

45,401.79

On Going

LCC

Total $ 45,401.79

==========

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	$ 33,008	$ 116,992
Development Health Operating Expenses	4230.2531.254	$ 10,000	$ 20,071	-$ 10,071
Corporate Services Operating Expenses	125.2531.254	$ 12,000	$ 3,332	$ 8,668
Urban Services Operating Expenses	5025.2531.254	$ 5,000	$ 5,125	-$ 125
Swimming Pools Operating Expenses	2525.2531.254	$ 100,000	$ 98,881	$ 1,119
Human Services Operating Expenses	1025.2531.254	$ 5,000	$ 1,288	$ 3,712
Planning Operating Expenses	625.2531.254	$ 5,000	$ 1,818	$ 3,182