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Agenda

Services and Resources

Committee Meeting

19 April 2010, 8:00pm

 


 

Notice of Meeting

 

Dear Councillors

 

Notice is given of the Services and Resources Committee, to be held in the Committee Room on Monday 19 April 2010 commencing at 8:00pm. The business to be transacted at the meeting is included in this business paper.

 

Yours faithfully

Craig Wrightson

Acting 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 April 2010

 

TABLE OF CONTENTS

 

 

 

DECLARATIONS OF INTEREST

 

APOLOGIES

 

 

CONFIRMATION OF MINUTES

 

1.      SERVICES AND RESOURCES - 6 APRIL 2010

 

 

Corporate Services Division Reports

 

2.       Corporate Services Division Report No. 25

SUBJECT: Statement of Investments as at 31 March 2010

 

3.       Corporate Services Division Report No. 26

SUBJECT: Legal Expenses for March 2010  

 

 

 

                   


Services and Resources Committee Meeting 19 April 2010

 

Corporate Services Division Report No. 25

 

 

 

 

 

Reference:    Corporate Services Division Report No. 25

Subject:          Statement of Investments as at 31 March 2010    

Record No:    SU777 - 13185/10

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

 

10/03/2010

Allied Irish Bank PLC

1,000,000.00

6/09/2010

180

6.10%

8/03/2010

BANK WEST

2,000,000.00

6/07/2010

120

5.65%

8/02/2010

BANK WEST

1,000,000.00

10/05/2010

91

5.40%

12/03/2010

BANK WEST

1,000,000.00

9/08/2010

150

6.00%

3/02/2010

CITIBANK  LTD

1,000,000.00

7/05/2010

93

5.20%

4/02/2010

CITIBANK  LTD

1,000,000.00

5/05/2010

90

5.20%

8/02/2010

CITIBANK  LTD

1,000,000.00

10/05/2010

91

5.45%

4/01/2010

CITIBANK  LTD

1,000,000.00

5/04/2010

91

5.40%

5/03/2010

CITIBANK  LTD

1,000,000.00

7/04/2010

33

5.20%

2/03/2010

CITIBANK  LTD

1,000,000.00

30/08/2010

181

6.28%

9/03/2010

COMMONWEALTH

1,000,000.00

9/09/2010

184

6.10%

10/03/2010

COMMONWEALTH

1,500,000.00

10/09/2010

184

6.20%

16/03/2010

COMMONWEALTH

1,000,000.00

16/09/2010

184

6.20%

10/12/2009

COMMONWEALTH

500,000.00

12/07/2010

214

6.00%

26/02/2010

IMB SOCIETY

1,000,000.00

27/05/2010

90

5.60%

14/01/2010

IMB SOCIETY

2,000,000.00

13/07/2010

180

6.10%

7/01/2010

IMB SOCIETY

1,000,000.00

7/04/2010

90

5.60%

18/12/2009

IMB SOCIETY

1,000,000.00

16/06/2010

180

6.00%

2/03/2010

IMB SOCIETY

1,000,000.00

30/08/2010

181

6.25%

6/01/2010

Macquarie Bank

1,000,000.00

6/04/2010

90

5.50%

8/12/2009

NEWCASTLE P B S

1,000,000.00

8/12/2010

365

7.00%

1/02/2010

ELDERS RURAL

1,000,000.00

2/05/2010

90

5.50%

2/12/2009

ST.GEORGE BANK

1,000,000.00

2/12/2010

365

6.80%

11Am A/C

ST.GEORGE BANK

500,000.00

Open

Variable

3.90%

 

 

25,500,000.00

 

Weighted

Average

5.82%

 

The following Investment was made during the month of March 2010. 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: 300,000.00

 

 

 

 

 

 

 

 

RECOMMENDATION

 

That the report “Statement of Investments as at 31 March 2010” 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 April 2010

 

Corporate Services Division Report No. 26

 

 

 

 

 

Reference:    Corporate Services Division Report No. 26

Subject:          Legal Expenses for March 2010    

Record No:    SU1371 - 13190/10

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

 

407,269.23

55,139.81

On Going

LCC

Mathews Folbigg Solicitors

 

 

 

 

Miscellaneous advice - RTA

Nil

665.16

Final

LCC

Marsdens Law Group

 

 

 

 

Fuel Tank Dispute

5,090.71

5,082.81

On Going

LCC

Borrows – LECP 10855/2009

Nil

10,976.95

Final

LCC

 

 

Total                                                   $ 71,864.73

                                                                                                   ==========

 

 

Budget Impact

 

 

 

 

 

 

General Ledger Account Details “Legal”

Account

Number

Budget

2009-2010

Actual

Expenses

2009-2010

Budget

Available

Environmental Operating Expenses

4120.2531.254

$ 135,000

$ 83,214

$  51,786

Development Health Operating Expenses

4230.2531.254

$   25,000

$   24,726

$       274

Corporate Services Operating Expenses

125.2531.254

$    12,000

$   5,912

$     6,088

Urban Services Operating Expenses

5025.2531.254

$      5,000

$   1,818

$    3,182 

Swimming Pools Operating Expenses

2525.2531.254

$  220,000

$ 166,000

$ 54,000    

Human Services Operating Expenses

1025.2531.254

$      5,000

$     2,552

$     2,448

Planning Operating Expenses

625.2531.254

$      15,000

$    8,655

$     6,345

 


 

RECOMMENDATION

 

That the Legal Expenses for March 2010 be received and noted.

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

ATTACHMENTS:

There are no supporting documents for this report.