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Agenda

Services and Resources

Committee Meeting

20 September 2010, 8:00pm

 


 

Notice of Meeting

 

Dear Councillors

 

Notice is given of the Services and Resources Committee Meeting, to be held in the Committee Room on Monday 20th September 2010 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 20 September 2010

 

TABLE OF CONTENTS

 

 

 

 

DECLARATIONS OF INTEREST

 

APOLOGIES

 

 

Corporate Services Division Reports

 

1.       Corporate Services Division Report No. 54

SUBJECT: Statement of Investments as at 31 August 2010

 

2.       Corporate Services Division Report No. 55

SUBJECT: Legal Expenses for August 2010  

 

 

 

                    


Services and Resources Committee Meeting 20 September 2010

 

Corporate Services Division Report No. 54

 

 

 

 

 

Reference:    Corporate Services Division Report No. 54

Subject:          Statement of Investments as at 31 August 2010    

Record No:    SU777 - 38341/10

Author(s):       KG  Bascaran 

 

 

Executive Summary

 

The report outlines the Council’s investment performance for the month.  It is recommended that the report be received and noted.

 

Discussion

 

DATE

INSTITUTION

PRINCIPAL

DATE OF

TERM

RATE

INVESTED

 

 

MATURITY

DAYS

 

5/08/2010

BANK WEST

1,000,000.00

1/02/2011

180

6.10%

6/07/2010

BANK WEST

1,000,000.00

5/10/2010

91

5.75%

9/08/2010

BANK WEST

1,000,000.00

7/02/2011

182

6.15%

9/08/2010

BANK WEST

1,000,000.00

7/02/2011

182

6.15%

13/07/2010

BANK WEST

2,000,000.00

10/01/2011

181

6.20%

7/09/2010

CITIBANK  LTD

1,000,000.00

8/12/2010

92

5.58%

6/09/2010

CITIBANK  LTD

1,000,000.00

6/12/2010

91

5.57%

30/08/2010

CITIBANK  LTD

1,000,000.00

29/11/2010

91

5.56%

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%

12/07/2010

COMMONWEALTH

500,000.00

11/10/2010

91

6.00%

15/04/2010

COMMONWEALTH

1,000,000.00

15/10/2010

183

6.30%

1/07/2010

IMB SOCIETY

1,000,000.00

4/01/2011

187

6.08%

13/07/2010

IMB SOCIETY

2,000,000.00

10/11/2010

120

6.00%

30/08/2010

IMB SOCIETY

1,000,000.00

31/01/2011

154

6.00%

6/04/2010

MACQUARIE BANK

1,000,000.00

4/10/2010

181

6.00%

8/12/2009

NEWCASTLE P B S

1,000,000.00

8/12/2010

365

7.00%

31/08/2010

ING Bank

1,000,000.00

28/02/2011

181

6.30%

3/08/2010

ELDERS RURAL BANK

1,000,000.00

3/02/2011

184

6.40%

2/12/2009

ST.GEORGE BANK

1,000,000.00

2/12/2010

365

6.80%

11am A/C

ST.GEORGE BANK

1,700,000.00

Open

 

4.40

 

 

24,700,000.00

 

Weighted

Average

6.00%

 

The following Investment was made during the month of August 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: 1,500,000

 

 

 

 

 

 

 

 

 

 

RECOMMENDATION

 

That the report “Statement of Investments as at 31st August 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 20 September 2010

 

Corporate Services Division Report No. 55

 

 

 

 

 

Reference:    Corporate Services Division Report No. 55

Subject:          Legal Expenses for August 2010    

Record No:    SU1371 - 38592/10

Author(s):       KG  Bascaran 

 

 

Executive Summary

 

The report outlines Council’s legal expenses paid for the last month.  It is recommended that the report be received and noted.

 

Discussion

 

The following legal expenses were paid during the past month:-

 

Thomson Playford Cutlers

Previous

Current

Status

Initiated

Lane Cove Aquatic Centre

 

581,251.73

14,890.15

On Going

LCC

Mathews Folbigg Solicitors

 

 

 

 

Ugur Nedim – District Court Appeal

55,818.21

2,955.90

 

 

41 Johnston Crescent – Balcony Collapse

1,204.45

431.86

On Going

LCC

3 McMahons Road – Class 5 Appeal

28,523.53

3,330.51

On Going

LCC

Netmesh Pty Ltd Class 1 Appeal

17,545.25

1,113.04

On Going

LCC

Marsdens Law Group

Dispute of Fuel Tanks

14,557.06

1,725.17

On Going

LCC

3 McMahons Rd – LECP 10365,104429/2010

 

8,712.32

On Going

Third Party

11 Kellys Esplanade

 

4,990.83

On Going

Third Party

Maddocks

Austin Street – Development Deed

112,887.01

8,556.35

On Going

LCC

Pikes Lawyers

212 Pacific HWY –Advice on Hairdressing Salon

Nil

1,764.30

Final

LCC

86 Carlotta Street - Advice

Nil

1,357.95

Final

LCC

John Tyrril & Associations P/L

WSN Environmental Solutions - Mediation

Nil

9,570.00

On Going

LCC

 

Total                                                   $ 59,398.38

                                                                                                   ==========

 

 

 

 

 

 

 

 

 

Budget Impact

 

General Ledger Account Details “Legal”

Account

Number

Budget

2010-2011

Actual

Expenses

2010-2011

Budget

Available

Environmental Operating Expenses

4120.2531.254

$       150,000

$   32,290

$ 117,710

Development Health Operating Expenses

4230.2531.254

$         10,000

$    4,168

$     5,832  

Corporate Services Operating Expenses

125.2531.254

$         12,000

$    3,123

$     8,877

Urban Services Operating Expenses

5025.2531.254

$       15,000

$    2,921

$   12,078

Swimming Pools Operating Expenses

2525.2531.254

$       50,000

$  13,629

$   36,371

Human Services Operating Expenses

1025.2531.254

$           5,000

$         319

$     4,681

Planning Operating Expenses

625.2531.254

$           4,000

-

$     4,000

 

RECOMMENDATION

 

That the Legal Expenses for August 2010 received and noted.

 

 

 

 

 

 

Craig Wrightson

Executive Manager

Corporate Services Division

 

 

ATTACHMENTS:

There are no supporting documents for this report.