Administrative Centre

30 Frances St

Randwick 2031

Tel: 02 9399 0999

Fax 02 9319 1510

DX 4121 Maroubra Junction

general.manager@randwick.nsw.gov.au

INCORPORATED

AS A MUNICIPALITY

22 FEBRUARY 1859

PROCLAIMED AS

A CITY JULY 1990

 

 

2 May 2006

 

ADMINISTRATION AND FINANCE COMMITTEE MEETING

 

NOTICE IS HEREBY GIVEN THAT AN ADMINISTRATION AND FINANCE   COMMITTEE MEETING OF THE COUNCIL OF THE CITY OF RANDWICK WILL BE HELD IN THE COUNCIL CHAMBER, TOWN HALL, 90 AVOCA STREET, RANDWICK, ON TUESDAY, 9TH MAY 2006 AT 6:00 PM

 

Committee Members:                  His Worship the Mayor, Cr T. Seng, Bastic, Daley, Hughes (Chairperson), Kenny, Matson, Nash (Deputy Chairperson), & Sullivan

 

Quorum:                                      Five (5) members.

 

NOTE: AT THE EXTRAORDINARY MEETING HELD ON 28TH SEPTEMBER, 2004, THE COUNCIL RESOLVED THAT THE ADMINISTRATION AND FINANCE COMMITTEE BE CONSTITUTED AS A COMMITTEE WITH FULL DELEGATION TO DETERMINE MATTERS ON THE AGENDA.

 

1           Apologies

 

2           Minutes

 

CONFIRMATION OF THE MINUTES OF THE ADMINISTRATION AND FINANCE COMMITTEE MEETING HELD ON TUESDAY, 14TH MARCH, 2006.

 

CONFIRMATION OF THE MINUTES OF THE ADMINISTRATION AND FINANCE COMMITTEE MEETING HELD ON TUESDAY, 11TH APRIL, 2006.

 

3           Declaration of Pecuniary & Non-Pecuniary Interests

 

4           Addresses to Committee by the Public

 

5           Finance

 

5.1                        

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES' REPORT 20/2006 - COUNCILLOR DONATIONS FOR 2005/2006 FINANCIAL YEAR AS AT 31 MARCH 2006. (DEFERRED FROM APRIL 11TH  MEETING)

2

 


 

5.2                        

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES' REPORT 21/2006 - INVESTMENT REPORT - FEBRUARY, 2006. (DEFERRED FROM APRIL 11TH MEETING)

7

 

 

5.3                        

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES' REPORT 22/2006 - MONTHLY FINANCIAL REPORTS AS AT 28 FEBRUARY 2006. (DEFERRED FROM APRIL 11TH MEETING)

12

 

5.4                        

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES' REPORT 25/2006 - COUNCILLOR DONATIONS FOR 2005/2006 FINANCIAL YEAR (AS AT 30 APRIL 2006).

14

 

5.5                        

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES' REPORT 26/2006 - INVESTMENT REPORT - MARCH 2006.

19

 

5.6                        

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES' REPORT 27/2006 - MONTHLY FINANCIAL REPORTS AS AT 31 MARCH 2006.

23

 

 

6           Administration

 

6.1                     

GENERAL MANAGER'S REPORT 7/2006 - EMPLOYEE ACHIEVEMENT OF OH&S INITIATIVE.

25

 

 

7           General Business

 

8           Notice of Rescission Motions

 

 

 

…………………………………

GENERAL MANAGER.

 

 


 

Director, Governance & Financial Services' Report 20/2006

 

 

SUBJECT:

COUNCILLOR DONATIONS FOR 2005/2006 FINANCIAL YEAR AS AT 31 MARCH 2006.

 

 

DATE:

30 March, 2006

FILE NO:

F2004/07369 xr F2005/00182

 

 

REPORT BY:            DIRECTOR, GOVERNANCE & FINANCIAL SERVICES  

 

 

INTRODUCTION:

 

To inform Councillors of the progressive amount of Councillors’ donations, allocations, waiving of fees and other similar issues for the current financial year.

 

At the 14 March 2006 Administration & Finance Committee Meeting it was resolved that:

 

(a)        the Director, Governance & Financial Services' Report 18/2006 be received and noted and that an additional vote of expenditure to fund the difference between Councillors’ donations and the budget amount in the Councillors’ Contingency Fund 2005/2006 be included in the next quarterly budget review and further, an additional $20,000.00 be allocated to the Councillors’ Contingency Fund and that the General Manager be delegated to fund this from Council’s 2005/06 budget; and

 

(b)        the next Councillor Donations Report includes a summary of the funds expended from the Councillors’ Contingency Fund on an annual basis (by financial year) from 1 July 2000.

 

 

ISSUES:

 

In the 2005/2006 financial year there have been 49 Councillors’ donations totalling $137,670.27 as listed in the table below.

 

MEETING

DETAILS

NET COST TO COUNCIL

Ordinary Council – 28 June 2005

Disability Information Referral Centre - Access Aware Program

$2,000.00

 

Ordinary Council – 26 July 2005

Industrial Relations Reform – Donation to ACTU

$1,000.00

 

Ordinary Council – 26 July 2005

Industrial Relations Reform – Purchase of Banners

$600.00

 

Ordinary Council – 26 July 2005

Peninsular LATM Kingsford/Kensington area – Purchase of Street Banners

$1,440.00

Ordinary Council –  23 August 2005

Sonja St Leon Memorial Eating Disorders Research Fund

$500.00

 

Ordinary Council – 23 August 2005

Fun Run/Oktoberfest & Market Day

$2,735.00

Ordinary Council – 23 August 2005

Maroubra Seals Winter Swimming Clubs annual Championships

$550.00

Ordinary Council – 23 August 2005

Access Ramps Convoy – Rally, Posters & Letterbox Drop

$2,203.31

Ordinary Council – 23 August 2005

Australia Day Botany Bay Regatta

Reception in February 2006:

Contribution:

 

$5,000.00

$500.00

Ordinary Council – 27 September 2005

Carols by the Sea – St Paul’s Anglican Church – Waiving of fees

$1,448.60

 

Ordinary Council – 27 September 2005

Coogee Family Fun Day – Waiving of fees

$5,506.80

 

Ordinary Council – 18 October, 2005

Surfing NSW - Seeking waiving of fees for use of Maroubra Beach

$396.30

 

10Ordinary Council – 18 October, 2005

Use of Coral Sea Park by Maroubra United Soccer Club

$686.40

 

Ordinary Council – 18 October, 2005

Des Renford Chair of Heart Research Swim Challenge and Charity Day - Use of Des Renford Aquatic Centre.

$5,000.00

 

Ordinary Council – 18 October, 2005

Use of Kokoda Park, Kensington, for Carols by Candlelight- Request for waiving of fees. 

$2,525.50

 

Ordinary Council – 18 October, 2005

Gordons Bay Amateur Fishing Club - Request for financial assistance for repairs to the storm damaged boat racks.

$2,674.60

 

Ordinary Council – 18 October, 2005

Waiving Of Fees - Musical performances and Shakespearean Theatre in Grant Reserve.

$7,876.40

 

Ordinary Council – 18 October, 2005

Maroubra PCYC Swimming Program – DRAC.

$600.00

 

Ordinary Council – 18 October, 2005

Australian Paralympic Team. 

$250.00

 

Ordinary Council – 18 October, 2005

Request For Funding - Refugee Scholarship. 

$500.00

 

Ordinary Council – 18 October, 2005

National recognition of Maroubra Beach as one of Australia's cultural significant Surfing Reserves - Contribution of funds.

$3,000.00

 

Ordinary Council – 22 November 2005

Randwick & District Historical Society – Christmas Function

$300.00

Ordinary Council – 22 November 2005

Use of community bus for carol singing

$275.00

Ordinary Council – 22 November 2005

Peace and Goodwill Festival – Heffron Park

$7,906.80

Ordinary Council  – 22 November 2005

Epiphany Celebration

$2,801.50

Ordinary Council – 22 November 2005

Coogee Surf Life Saving Club – Glass island Challenge

$1,797.20

Ordinary Council – 22 November 2005

2nd Paul Travini Cup Community Cricket Day

$2,553.60

Ordinary Council  – 22 November 2005

UNSW’s Sustainable Schools Awards

$4,800.00

Ordinary Council – 22 November 2005

Carols by Candlelight – Pioneer Park, Malabar

$2,617.80

Ordinary Council – 22 November 2005

Coogee Surf Life Saving Club – Annual Open Carnival

$2,079.00

Ordinary Council – 22 November 2005

Randwick City Tourism Video

$2,580.00

Ordinary Council – 22 November 2005

Randwick Shield – Maroubra Beach

$705.70

Ordinary Council – 22 November 2005

Waiving of the Greenwaste Disposal Fees for the Guriwal Aboriginal community at La Perouse

$6,500.00

Ordinary Council – 13 December 2006

Local Area Command – contribution towards the cost of providing specialised protective riding equipment

$8,080.00

Ordinary Council – 13 December 2006

Waving of Fees – Use of Maroubra Beach for the promotion of Junior Development in Surfing

$ 3,085.70

Ordinary Council – 13 December 2005

Waiving of Fees – South Maroubra Village Green Carols by Candlelight

$2,523.00

Ordinary Council – 13 December 2005

University of NSW Army Regiment Freedom of Entry Parade

$4,000.00

Postponed

Ordinary Council – 13 December 2005

Chinese New Year 2006

$10,000.00

Ordinary Council – 28 February 2006

2006 Coogee Beach Clean up Australia Day Festival – Gracepoint Christian Church.

$1,381.82

Ordinary Council – 28 February 2006

Waiving of Fees – Surfing NSW, Maroubra Surfers Association & Southend Boardriders Inc.

$6,930.36

Ordinary Council – 28 February 2006

Youth & Seniors Week 2006 - request for donation of 250 native seedlings.

$340.91

 

Ordinary Council – 28 February 2006

Waiving of fees for filming of non-commercial short drama at Yarra Bay Beach for Tropfest

$1,245.45

Ordinary Council – 28 February 2006

Clovelly Public School – request for installation and dismantling of banner on Council flagpoles.

$691.00

Ordinary Council – 28 February 2006

Maroubra Beach Surfing Reserve & Surfing Walk of Fame.

$8,000.00

Ordinary Council – 28 February 2006

Matthew Talbot Hostel –Fundraising night “Magic Moments at the SCG.”

$3,500.00

Ordinary Council – 28 February 2006

Indonesian Community Council Harmony Day Event.

$563.64

Ordinary Council – 28 February 2006

Randwick Community Centre - Book publication costs

$970.00

Ordinary Council – 28 February 2006

Annual Pere Recevueur Mass – Waiving of Fees

$2,642.88

Ordinary Council – 28 March 2006

Cyclone Larry - Innisfail

$5,000.00

Ordinary Council – 28 March 2006

Malabar Clear Water Classic

$806.00

TOTAL                                                                                                           $137,670.27

 

The amounts shown in the table above reflect the net cost to Council in providing the donation or grant.  The GST, where applicable, has not been shown because it will be claimed back from the Australian Taxation Office.

 


Summary of the funds expended from the Councillors’ Contingency Fund on an annual basis from 1 July 2000.

 

1 July 2000 – 30 June 2001                    $43,363.72#

1 July 2001 – 30 June 2002                    $47,210.24#

1 July 2002 – 30 June 2003                  $216,270.08#

1 July 2003 – 30 June 2004                  $232,636.84#

1 July 2004 – 30 June 2005                  $167,131.00

 

# These figures have been extracted from the archived TCS Stowe General Ledger System and related to the “Councillors’ Donations” account.

 

FINANCIAL IMPACT STATEMENT:

 

Council has allocated $140,000.00* in the 2005/2006 Budget for contingencies.  The difference between the total Councillors’ donations and the budgeted amount will be adjusted in the next quarterly budget review.

 

*This amount includes the original budget $120,000 and an additional $20,000 which was allocated at the 28 February 2006 Council Meeting.

 

RECOMMENDATION:

 

That the report be received and noted.

 

 

ATTACHMENT/S:

 

Nil

 

 

………………………………

………………………………

GEOFF BANTING

JULIE HARTSHORN

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES

SENIOR ADMINISTRATIVE COORDINATOR

 

 

 

 

 

 


 

Director, Governance & Financial Services' Report 21/2006

 

 

SUBJECT:

INVESTMENT REPORT - FEBRUARY, 2006

 

 

DATE:

20 March, 2006

FILE NO:

F2004/06527

 

 

 

REPORT BY:            DIRECTOR, GOVERNANCE & FINANCIAL SERVICES    

 

 

INTRODUCTION:

 

The Local Government (General) Regulation requires that the responsible accounting officer provide a written report to the ordinary meeting of the Council giving details of all monies invested and a certificate as to whether or not the investments have been made in accordance with the Act, the regulations and Council’s Investment Policy No: 3.02.07.

 

ISSUES:

 

Council is authorised by s625 of the Local Government Act to invest its surplus funds. Funds may only be invested in the form of investment notified by Order of the Minister dated 23 September, 2005. The Local Government (General) Regulation prescribes the records that must be maintained in relation to Council’s investments.

 

The attached table titled “Investment Performance Report – February 2006” outlines the investment portfolio held by Council as at the end of February 2006. All investments have been made in accordance with the Act, Regulations and Council's Investment Policy.

 

Investment Commentary

 

The size of the investment portfolio may vary significantly from month to month as a result of cash flows for the period. Cash outflows (expenditure) are typically relatively stable from one month to another. Cash inflows (income) are cyclical and are largely dependent on the rates instalment due dates and the timing of grant payments including receipt of the Financial Assistance Grant.

 

The investment portfolio increased by $4.270 million during February 2006. The increase is representative of the positive cash flow for the month as revenue exceeded expenditure. The third instalment of 2005/2006 rates and charges was due on 28 February 2006. The final instalment of 2005/2006 rates and charges is due on 31 May 2006.

 

 

The above graph illustrates the movement in the investment portfolio since August 2003. The peaks are representative of the rates instalment periods.

 

The investment portfolio is diversified across a number of investment types and is spread across a number of financial institutions. The various investment types may include managed funds, term deposits, rolling rate investments, floating rate notes and on‑call accounts. The following graph indicates the various investments held during February 2006.

 

 

 

The investment portfolio is regularly reviewed in order to maximise investment performance and minimise risk. Comparisons are made between existing investments with available products that are not part of Council's portfolio. Independent advice is sought on new investment opportunities.

 


 

 

 

Investment performance exceeded the industry benchmark UBS Australia Bank Bill Index in February 2006 with an average return after fees of 6.23%, compared with the benchmark index of 5.76%.

 

Official Reserve Bank of Australia (RBA) cash interest rate has remained unchanged at 5.50%.

 

 

FINANCIAL IMPACT STATEMENT:

 

Funds are invested with the aim of achieving budgeted income in 2005/2006. The budget provision for income from this source is $2.925M. Income to 28 February, 2006 amounted to $1,898,474.

 

CONCLUSION:

 

All investments as at 28 February, 2006 have been made in accordance with Policy No: 3.02.07 and the provisions of s625 of the Local Government Act and the Local Government (General) Regulation have been complied with.

 

RECOMMENDATION:

 

That the report be received and noted.

 

 

ATTACHMENT/S:

 

Investment Performance Report - February 2006

 

 

………………………………

………………………………

GEOFF BANTING

GREG BYRNE

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES

MANAGER FINANCIAL OPERATIONS

 

 

 

 


Investment Performance Report – February 2006

 

 

 

 

 

 

 

 

 

 

 


 

Director, Governance & Financial Services' Report 22/2006

 

 

SUBJECT:

MONTHLY FINANCIAL REPORTS AS AT 28 FEBRUARY 2006

 

 

DATE:

28 March, 2006

FILE NO:

F2004/06527

 

 

 

REPORT BY:            DIRECTOR, GOVERNANCE & FINANCIAL SERVICES   

 

 

INTRODUCTION:

 

Section 202 of the Local Government (General) Regulation 2005 requires that the responsible accounting officer of a council must:

(a)  establish and maintain a system of budgetary control that will enable the council’s actual income and expenditure to be monitored each month and to be compared with the estimate of the council’s income and expenditure, and

(b)  if any instance arises where the actual income or expenditure of the council is materially different from its estimated income or expenditure, report the instance to the next meeting of the council.

 

 

ISSUES:

 

This report provides the financial results of Council as at 28 February 2006. Attachment 1 summarises Council’s Financial Performance, and its Source and Application of Funds. It also summarises the operating result for each of Council’s principal activities. Attachment 2 details the financial position of Council as at 28 February 2006.

 

 

FINANCIAL IMPACT STATEMENT:

 

There is no direct financial impact for this matter.

 

CONCLUSION:

 

Council’s Director Governance & Financial Services as the responsible accounting officer, advises that the projected financial position is satisfactory.

 

 

RECOMMENDATION:

 

The attached monthly financial reports as at 28 February 2006 be noted.

 

 

 

ATTACHMENT/S:

 

1. FINANCIAL PERFORMANCE & SOURCE AND APPLICATION OF FUNDS – under separate cover.

2. FINANCIAL POSITION   - under separate cover.

 

 

………………………………

………………………………

GEOFF BANTING

 

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES

 


 

Director, Governance & Financial Services' Report 25/2006

 

 

SUBJECT:

COUNCILLOR DONATIONS FOR 2005/2006 FINANCIAL YEAR (AS AT 30 APRIL 2006)

 

 

DATE:

26 April, 2006

FILE NO:

F2004/07369 xr F2005/00182

 

 

 

REPORT BY:            DIRECTOR, GOVERNANCE & FINANCIAL SERVICES  

 

 

INTRODUCTION:

 

To inform Councillors of the progressive amount of Councillors’ donations, allocations, waiving of fees and other similar issues for the current financial year.

 

ISSUES:

 

In the 2005/2006 financial year there have been 54 Councillors’ donations totalling $147,438.91 as listed in the table below.

 

MEETING

DETAILS

NET COST TO COUNCIL

Ordinary Council – 28 June 2005

Disability Information Referral Centre - Access Aware Program

$2,000.00

 

Ordinary Council – 26 July 2005

Industrial Relations Reform – Donation to ACTU

$1,000.00

 

Ordinary Council – 26 July 2005

Industrial Relations Reform – Purchase of Banners

$600.00

 

Ordinary Council – 26 July 2005

Peninsular LATM Kingsford/Kensington area – Purchase of Street Banners

$1,440.00

Ordinary Council –  23 August 2005

Sonja St Leon Memorial Eating Disorders Research Fund

$500.00

 

Ordinary Council – 23 August 2005

Fun Run/Oktoberfest & Market Day

$2,735.00

Ordinary Council – 23 August 2005

Maroubra Seals Winter Swimming Clubs annual Championships

$550.00

Ordinary Council – 23 August 2005

Access Ramps Convoy – Rally, Posters & Letterbox Drop

$2,203.31

Ordinary Council – 23 August 2005

Australia Day Botany Bay Regatta

Reception in February 2006:

Contribution:

 

$5,000.00

$500.00

Ordinary Council – 27 September 2005

Carols by the Sea – St Paul’s Anglican Church – Waiving of fees

$1,448.60

 

Ordinary Council – 27 September 2005

Coogee Family Fun Day – Waiving of fees

$5,506.80

 

Ordinary Council – 18 October, 2005

Surfing NSW - Seeking waiving of fees for use of Maroubra Beach

$396.30

 

Ordinary Council – 18 October, 2005

Use of Coral Sea Park by Maroubra United Soccer Club

$686.40

 

Ordinary Council – 18 October, 2005

Des Renford Chair of Heart Research Swim Challenge and Charity Day - Use of Des Renford Aquatic Centre.

$5,000.00

 

Ordinary Council – 18 October, 2005

Use of Kokoda Park, Kensington, for Carols by Candlelight- Request for waiving of fees. 

$2,525.50

 

Ordinary Council – 18 October, 2005

Gordons Bay Amateur Fishing Club - Request for financial assistance for repairs to the storm damaged boat racks.

$2,674.60

 

Ordinary Council – 18 October, 2005

Waiving Of Fees - Musical performances and Shakespearean Theatre in Grant Reserve.

$7,876.40

 

Ordinary Council – 18 October, 2005

Maroubra PCYC Swimming Program – DRAC.

$600.00

 

Ordinary Council – 18 October, 2005

Australian Paralympic Team. 

$250.00

 

Ordinary Council – 18 October, 2005

Request For Funding - Refugee Scholarship. 

$500.00

 

Ordinary Council – 18 October, 2005

National recognition of Maroubra Beach as one of Australia's cultural significant Surfing Reserves - Contribution of funds.

$3,000.00

 

Ordinary Council – 22 November 2005

Randwick & District Historical Society – Christmas Function

$300.00

Ordinary Council – 22 November 2005

Use of community bus for carol singing

$275.00

Ordinary Council – 22 November 2005

Peace and Goodwill Festival – Heffron Park

$7,906.80

Ordinary Council  – 22 November 2005

Epiphany Celebration

$2,801.50

Ordinary Council – 22 November 2005

Coogee Surf Life Saving Club – Glass island Challenge

$1,797.20

Ordinary Council – 22 November 2005

2nd Paul Travini Cup Community Cricket Day

$2,553.60

Ordinary Council  – 22 November 2005

UNSW’s Sustainable Schools Awards

$4,800.00

Ordinary Council – 22 November 2005

Carols by Candlelight – Pioneer Park, Malabar

$2,617.80

Ordinary Council – 22 November 2005

Coogee Surf Life Saving Club – Annual Open Carnival

$2,079.00

Ordinary Council – 22 November 2005

Randwick City Tourism Video

$2,580.00

Ordinary Council – 22 November 2005

Randwick Shield – Maroubra Beach

$705.70

Ordinary Council – 22 November 2005

Waiving of the Greenwaste Disposal Fees for the Guriwal Aboriginal community at La Perouse

$6,500.00

Ordinary Council – 13 December 2006

Local Area Command – contribution towards the cost of providing specialised protective riding equipment

$8,080.00

Ordinary Council – 13 December 2006

Waving of Fees – Use of Maroubra Beach for the promotion of Junior Development in Surfing

$ 3,085.70

Ordinary Council – 13 December 2005

Waiving of Fees – South Maroubra Village Green Carols by Candlelight

$2,523.00

Ordinary Council – 13 December 2005

University of NSW Army Regiment Freedom of Entry Parade

$4,000.00

Postponed

Ordinary Council – 13 December 2005

Chinese New Year 2006

$10,000.00

Ordinary Council – 28 February 2006

2006 Coogee Beach Clean up Australia Day Festival – Gracepoint Christian Church.

$1,381.82

Ordinary Council – 28 February 2006

Waiving of Fees – Surfing NSW, Maroubra Surfers Association & Southend Boardriders Inc.

$6,930.36

Ordinary Council – 28 February 2006

Youth & Seniors Week 2006 - request for donation of 250 native seedlings.

$340.91

 

Ordinary Council – 28 February 2006

Waiving of fees for filming of non-commercial short drama at Yarra Bay Beach for Tropfest

$1,245.45

Ordinary Council – 28 February 2006

Clovelly Public School – request for installation and dismantling of banner on Council flagpoles.

$691.00

Ordinary Council – 28 February 2006

Maroubra Beach Surfing Reserve & Surfing Walk of Fame.

$8,000.00

Ordinary Council – 28 February 2006

Matthew Talbot Hostel –Fundraising night “Magic Moments at the SCG.”

$3,500.00

Ordinary Council – 28 February 2006

Indonesian Community Council Harmony Day Event.

$563.64

Ordinary Council – 28 February 2006

Randwick Community Centre - Book publication costs

$970.00

Ordinary Council – 28 February 2006

Annual Pere Recevueur Mass – Waiving of Fees

$2,642.88

Ordinary Council – 28 March 2006

Cyclone Larry - Innisfail

$5,000.00

Ordinary Council – 28 March 2006

Malabar Clear Water Classic

$806.00

Ordinary Council – 18 April 2006

Benevolent Society – Community Festival 27 May 2006 (50% of fees)

$3,643.18

Ordinary Council – 18 April 2006

Indonesian Welfare Association – Street Fair

$3,120.91

Ordinary Council – 18 April 2006

Qantas Wallabies Fan Day – 29 May 2006

$2,004.55

Ordinary Council – 18 April 2006

Maroubra Development Carnival – Des Renford Aquatic Centre

$600

Ordinary Council – 18 April 2006

Malabar Headland – the People’s Park Community Forum

$400

TOTAL                                                                                                           $147,438.91

 

The amounts shown in the table above reflect the net cost to Council in providing the donation or grant.  The GST, where applicable, has not been shown because it will be claimed back from the Australian Taxation Office.

 

 

FINANCIAL IMPACT STATEMENT:

 

Council has allocated $140,000.00 in the 2005/2006 budget for contingencies.  This amount includes the original budget $120,000 and an additional $20,000 which was allocated at the 28 February 2006 Council Meeting.

It is proposed to increase the 2005/2006 Councillors’ donations budget by a further $20,000 in conjunction with the next quarterly budget review (which will be presented to the May Ordinary Council Meeting).

 

 

RECOMMENDATION:

 

That the report be received and noted.

 

ATTACHMENT/S:

 

Nil

 

 

………………………………

………………………………

GEOFF BANTING

JULIE HARTSHORN

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES

SENIOR ADMINISTRATIVE COORDINATOR

 

 

 

 

 

 


 

Director, Governance & Financial Services' Report 26/2006

 

 

SUBJECT:

INVESTMENT REPORT - MARCH 2006

 

 

DATE:

13 April, 2006

FILE NO:

F2004/06527

 

 

 

REPORT BY:            DIRECTOR, GOVERNANCE & FINANCIAL SERVICES  

 

 

INTRODUCTION:

 

The Local Government (General) Regulation requires that the responsible accounting officer provide a written report to the ordinary meeting of the Council giving details of all monies invested and a certificate as to whether or not the investments have been made in accordance with the Act, the regulations and Council’s Investment Policy No: 3.02.07.

 

ISSUES:

 

Council is authorised by s625 of the Local Government Act to invest its surplus funds. Funds may only be invested in the form of investment notified by Order of the Minister dated 23 September, 2005. The Local Government (General) Regulation prescribes the records that must be maintained in relation to Council’s investments.

 

The attached table titled “Investment Performance Report – March 2006” outlines the investment portfolio held by Council as at the end of March 2006. All investments have been made in accordance with the Act, Regulations and Council's Investment Policy.

 

Investment Commentary

 

The size of the investment portfolio may vary significantly from month to month as a result of cash flows for the period. Cash outflows (expenditure) are typically relatively stable from one month to another. Cash inflows (income) are cyclical and are largely dependent on the rates instalment due dates and the timing of grant payments including receipt of the Financial Assistance Grant.

 

The investment portfolio decreased by $1,568 million during March 2006. The decrease is representative of the negative cash flow for the month as expenditure exceeded revenue. The final instalment of 2005/2006 rates and charges is due on 31 May 2006.

 

 

The above graph illustrates the movement in the investment portfolio since October 2003. The peaks are representative of the rates instalment periods.

 

The investment portfolio is diversified across a number of investment types and is spread across a number of financial institutions. The various investment types may include managed funds, term deposits, rolling rate investments, floating rate notes and on‑call accounts. The following graph indicates the various investments held during March 2006.

 

 

 

The investment portfolio is regularly reviewed in order to maximise investment performance and minimise risk. Comparisons are made between existing investments with available products that are not part of Council's portfolio. Independent advice is sought on new investment opportunities.

 

Investment performance exceeded the industry benchmark UBS Australia Bank Bill Index in March 2006 with an average return after fees of 6.07%, compared with the benchmark index of 5.73%.

 

Official Reserve Bank of Australia (RBA) cash interest rate has remained unchanged at 5.50%.

 

FINANCIAL IMPACT STATEMENT:

 

Funds are invested with the aim of achieving budgeted income in 2005/2006. The budget provision for income from this source is $2.925M. Income to 31 March, 2006 amounted to $2,154,842.

 

CONCLUSION:

 

All investments as at 28 February, 2006 have been made in accordance with Policy No: 3.02.07 and the provisions of s625 of the Local Government Act and the Local Government (General) Regulation have been complied with.

 

RECOMMENDATION:

 

That the report be received and noted.

 

ATTACHMENT/S:

Investment Performance Report – March 2006

 

 

 

 

 

………………………………

 

 

 

 

………………………………

GEOFF BANTING

GREG BYRNE

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES

MANAGER FINANCIAL OPERATIONS

 

 

                           

           

Investment

Credit Rating

Amount Invested

Interest Earned

Investment Performance

Period

FYTD

Period

FYTD

Past 12 Months

 

$

$

$

%

%

%

CBA Cash Deposit (CDA)

AA

2,750,000

1,411

1,411

5.45

5.45

5.45

Local Govt Financial Serv (LGFS) 11am call

AA

1,033,297

26,237

139,763

5.40

5.40

5.40

LGFS Expanded Credit Facility

Af

5,011,601

24,995

319,741

6.06

6.07

6.05

Macquarie Income Plus Enhanced Income Fund

Af

5,657,773

27,792

213,764

5.97

6.22

6.14

Deutsche Income Enhanced Income Fund

Af

8,141,588

37,585

351,904

5.60

6.49

6.48

ING Enhanced Cash Fund

Af

8,189,201

39,706

328,754

5.89

6.26

6.27

Merrill Lynch Diversified Credit Fund

Af

6,964,286

33,649

327,756

5.87

6.73

6.55

ANZ Bank - Three Pillars

AA-

2,000,000

11,602

102,695

6.83

6.84

6.90

Commonwealth Bank Shield Series 12

AA

4,000,000

22,430

198,535

6.60

6.62

6.58

Commonwealth Bank Shield Series 21

AA

1,000,000

0

0

-

-

-

Commonwealth Bank Shield Series 24

AA

2,500,000

15,079

133,467

7.10

7.12

7.15

Interest earned from matured investments

-

-

15,279

29,416

-

-

-

General Fund Bank Account

-

-

603

7,636

-

-

-

Total

 

47,247,746

256,368

2,154,842

6.07

6.32

6.29

Official (Reserve Bank of Australia) Cash Rate

5.50

5.50

5.50

UBS Australian Bank Bill Index

5.73

5.76

5.80


 

Director, Governance & Financial Services' Report 27/2006

 

 

SUBJECT:

MONTHLY FINANCIAL REPORTS AS AT 31 MARCH 2006

 

 

DATE:

27 April, 2006

FILE NO:

F2004/06527

 

 

 

REPORT BY:            DIRECTOR, GOVERNANCE & FINANCIAL SERVICES   

 

 

INTRODUCTION:

 

Section 202 of the Local Government (General) Regulation 2005 requires that the responsible accounting officer of a council must:

(a)  establish and maintain a system of budgetary control that will enable the council’s actual income and expenditure to be monitored each month and to be compared with the estimate of the council’s income and expenditure, and

(b)  if any instance arises where the actual income or expenditure of the council is materially different from its estimated income or expenditure, report the instance to the next meeting of the council.

 

 

ISSUES:

 

This report provides the financial results of Council as at 31 March 2006. Attachment 1 summarises Council’s Financial Performance, and its Source and Application of Funds. It also summarises the operating result for each of Council’s principal activities. Attachment 2 details the financial position of Council as at 31 March 2006.

 

 

FINANCIAL IMPACT STATEMENT:

 

There is no direct financial impact for this matter.

 

CONCLUSION:

 

Council’s Director Governance & Financial Services as the responsible accounting officer, advises that the projected financial position is satisfactory.

 

 

RECOMMENDATION:

 

The attached monthly financial reports as at 31 March 2006 be noted.

 

 

 

ATTACHMENT/S:

 

1. FINANCIAL PERFORMANCE & SOURCE AND APPLICATION OF FUNDS – under separate cover.

2. FINANCIAL POSITION - under separate cover.

 

 

 

………………………………

………………………………

GEOFF BANTING

 

DIRECTOR, GOVERNANCE & FINANCIAL SERVICES

 

 

 

 

 

 

 


 

GENERAL MANAGER'S REPORT 7/2006

 

 

SUBJECT:

EMPLOYEE ACHIEVEMENT OF OH&S INITIATIVE

 

 

DATE:

28 April, 2006

FILE NO:

F2005/

 

 

 

REPORT BY:            GENERAL MANAGER  

 

 

INTRODUCTION:

 

Local Government faces significant challenges in maintaining a safe and healthy work environment due to the diversity, complexity and location of services provided.

 

The 2005/2008 Randwick City Council Management Plan sets key organisational objectives focused on the achievement of a work environment that protects people at work against risks to health or safety. The aim is to eliminate all workplace related accidents, injuries or illnesses.

 

In relating these objectives directly to staff, a challenge was issued by the General Manager for staff to achieve a month without a workplace injury/illness claim. This was achieved by staff in December 2005.

 

In recognition of the achievement it is proposed that each employee be given a Randwick City Council backpack at the next employee BBQ. The backpack will be utilised by staff to carry safety equipment and the inclusion of the safety logo will continue to reinforce safety within the workplace.

 

 

ISSUES:

 

During 2005 the State Government introduced a number of changes to workers compensation legislation that will adversely affect our premium. To address these changes and reduce the human and financial impact of workplace injury and illness, there will be continued focus on a range of OHS initiatives including:

 

§   Training and education

§   Job specific safe work procedures

§   Improved accountability for employees at all levels

§   Risk assessments and controls for the purchasing and safe operation of plant and equipment

§   Improved reporting to draw attention to the achievement of OH&S objectives

§   Regular OHS inspections to identify hazards that may lead to accidents and time lost.

 

FINANCIAL IMPACT STATEMENT:

 

The cost of issuing a backpack is $14.95 per employee. This can be offset against the average cost of a claim which for the 2004/2005 premium year was $3,500.

 

CONCLUSION:

 

We will continue to capitalise on the success of this initiative as we raise the benchmark to the achievement of a three (3) month period without a workplace injury or illness claim.

 

The safety and well being of people in our workplace is our primary focus.

 

RECOMMENDATION:

 

That the initiative to directly involve and reward staff for the achievement of a month without a workplace injury or illness be noted.

 

 

 

ATTACHMENT/S:

 

Nil

 

 

 

 

 

..............................................

GENERAL MANAGER

 

 

 

 



 

General Business

 

Notice of Rescission Motions