HURSTVILLE CITY COUNCIL
CIVIC CENTRE, MACMAHON STREET, HURSTVILLE.
__________________________________
SUMMARY OF ITEMS CONTAINED IN THE
DIVISIONAL MANAGER - BUSINESS AND FINANCIAL SERVICES' REPORT
TO THE MEETING OF THE FINANCE COMMITTEE
TO BE HELD ON JANUARY
Warrant No. 5/95 (Appendix 'A' To Divisional Manager's Report) (F/00009)
Financial Statement (Form 2) As At 24Th March 1995 (Appendix 'B' To Divisional Manager's Report) (F/00009)
Council Investments As At 24Th March 1995 (F/00009)
Job Cost Report - Expenditure To 24Th March 1995 (Appendix 'C' To Divisional Manager's Report) (F/00009)
Report On Rate Collections For Period 1/7/1994 To 24Th March 1995 (F/00009)
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: 02.01 BUSINESS & FINANCIAL SERVICES |
DIVISIONAL MANAGER - BUSINESS AND FINANCIAL SERVICES
REPORT NO 1 TO THE FINANCE COMMITTEE
TO BE HELD ON 04-95 - 5TH APRIL, 1995
REPORT NO 1 TO THE FINANCE COMMITTEE
TO BE HELD ON 04-95 - 5TH APRIL, 1995
The General Manager
Hustville City Council
The Civic Centre
HURSTVILLE
Dear Sir,
Hereunder is my report No.1 to be submitted to the FINANCE Committee:-
02.01 WARRANT NO. 5/95 (APPENDIX 'A' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
(Report by Manager - Accounting, Mr R Bowling)
The following accounts are now submitted for examination and recommendation by the Finance Committee:-
| General Fund | 026402-026757 | $3,281,105.58 |  |
| 026758-026939 incl | 173,535.88 | $ 83,454,641.46 |
| Trust Fund | 407036-407112 incl | | 731,616.50 |
| Main Roads Trust Fund | 700149-700149 incl | | $ 10,796.27 |
| | | $ 4,197,054.23 |
| HURSTVILLE CITY COUNCIL RECOMMENDATION NO: 02.01 BUSINESS & FINANCIAL SERVICES |
HEADING: Recommendation WARRANT NO.5/95 (APPENDIX 'A' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
RECOMMENDATION
THAT, following examination of the vouchers contained in Warrant No. 5/95, the
undermentioned amounts are now recommended to Council for payment:-
General Fund $3,454,641.46
Trust Fund 731,616.50
Main Roads Trust Fund $ 10,796.27
$4,197,054.23
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: 02.02 BUSINESS & FINANCIAL SERVICES |
02.02 FINANCIAL STATEMENT (FORM 2) AS AT 24TH MARCH 1995 (APPENDIX 'B' TO DIVISIONAL MANAGER'S REPORT) (F/00009) (Report by Manager - Financial Accounting, Mr R Bowling)
Financial Statement, submitted to Finance Committee as previously required under
Ordinance No. 26, Clause 18(a) for the Committee's information.
| HURSTVILLE CITY COUNCIL RECOMMENDATION NO: 02.02 BUSINESS & FINANCIAL SERVICES |
HEADING: Recommendation FINANCIAL STATEMENT (FORM 2) AS AT 24th March 1995 (APPENDIX 'B' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
(Report by Manager - Financial Accounting, Mr R Bowling)
RECOMMENDATION
THAT the Financial Statement, as submitted, be received and adopted.
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: 02.03 BUSINESS & FINANCIAL SERVICES |
02.03 COUNCIL INVESTMENTS AS AT 24TH MARCH 1995 (F/00009)
(Report by Manager - Accounting, Mr R Bowling)
Report by Divisional Manager:
The following tables give details of Council's funds invested as at 24th March 1995.
Certificate of Investment
The following investments have been made in accordance with Section 625 of the Local Government Act 1993 and Regulations and in accordance with Council's Investment Policy.
| Date Invested | With Whom Invested | Amount $ | Yield % | Days | Due Date |
| (a) Term Deposits | | | | | |
| 07.02.95 | N.A.B. | 6,564,008.48 | 8.4 | 60 | 07 04.95 |
| (b) Commercial Bills | | | | | |
| 15.03.95 | Westpac | 1,787,296.97 | 7.63 | 34 | 18.04.95 |
| 13.03.95 | St George | 3,973,675.76 | 7.80 | 31 | 13.04.95 |
| 03.03.95 | ANZ | 3,974,145.19 | 7.66 | 31 | 03.04.95 |
| 02.02.95 | Westpac | 4,428,407.07 | 8.04 | 63 | 06.04.95 |
| 03.03.95 | Westpac | 2,483,819.79 | 7.67 | 31 | 08.05.95 |
| 10.02.95 | Westpac | 1,479,840.12 | 8.02 | 62 | 13.04.95 |
| 02.03.95 | St George | 2,979,883.75 | 7.7 | 32 | 03.04.95 |
| 01.03.95 | NAB | 1,489,400.37 | 7.64 | 34 | 04.04.95 |
| 01.03.95 | NAB | 992,727.25 | 7.64 | 35 | 05.04.95 |
| | $22,508,743.62 | | | |
| (c) Money on Overnight Call | | $1,083,970.37 | | | |
| (d) Promissory Notes | | Nil | | | |
| Total Investments | | $31,247,175.12 | | | |
SUMMARY OF INVESTMENTS
(a) | Term Deposits | $ 6,564,008.48 |
(b) | Commercial Bills | $23,599,196.27 |
(c) | Money Market | $ 1,083,970.37 |
(d) | Promissory Notes | $ Nil |
| TOTAL: | $31,247,175.12 |
| HURSTVILLE CITY COUNCIL RECOMMENDATION NO: 02.03 BUSINESS & FINANCIAL SERVICES |
HEADING: Recommendation COUNCIL INVESTMENTS AS AT 24TH MARCH 1995 (F/00009)
(Report by Manager - Accounting, Mr R Bowling)
RECOMMENDATION
THAT the report be received and noted.
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: 02.04 BUSINESS & FINANCIAL SERVICES |
02.04 JOB COST REPORT - EXPENDITURE TO 24TH MARCH 1995 (APPENDIX 'C' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
(Report by Manager - Management Accounting, Mrs C Long)
Submitted for the information of Council.
| HURSTVILLE CITY COUNCIL RECOMMENDATION NO: 02.04 BUSINESS & FINANCIAL SERVICES |
HEADING: Recommendation JOB COST REPORT - EXPENDITURE TO 24TH MARCH 1995 (APPENDIX 'C' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
(Report by Manager - Management Accounting, Mrs C Long)
RECOMMENDATION
THAT the report be received and noted.
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: 02.05 BUSINESS & FINANCIAL SERVICES |
02.05 REPORT ON RATE COLLECTIONS FOR PERIOD 1/7/1994 TO 24TH MARCH 1995 (F/00009)
(Report by Manager - Rates, Mr W Wood)
| Type of Charges | Arrears $ | Current $ | Collections $ | Outstanding Balance $ |
| Combined Rates & Garbage Charges | 343,717 | 19,494,501 | -14,670,300 | 3,482,536 |
| Pension Rebates | | -1,685,382 | | |
| Extra Charges | 175,046 | 38,603 | - 64,075 | 149,574 |
| 518,763 | 17,847,722 | -14,734,375 | 3,632,110 |
Collections to 24th March 1995 represent 80.22% of the total amount of Rates and Charges recoverable and 82.55% of the 1994/1995 Levy.
Collections for the equivalent period during 1993 were 85.40% and 87.86%, respectively.
It should be noted that instalment payment dates have changed to reflect the new rating period under the provisions of the Local Government Act. The fourth instalment payment for the 1994/1995 levy is not until 31st May 1995, whereas the collection figures shown for the 1993 levy is at the third instalment payment date.
| HURSTVILLE CITY COUNCIL RECOMMENDATION NO: 02.05 BUSINESS & FINANCIAL SERVICES |
HEADING: Recommendation REPORT ON RATE COLLECTIONS FOR PERIOD 1/7/1994 TO 24TH MARCH 1995 (F/00009)
(Report by Manager - Rates, Mr W Wood)
RECOMMENDATION
THAT the information be received and noted.
* * * * * * * * *
Yours faithfully,
W Bradey
Divisional Manager -
Business & Financial Services
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: . Appendix for Business and Financial Services |
.99 Appendix A - Warrant No. 5/95- Appendix
To view the Warrant please double click with your mouse pointer on the icon which appears below. When you have done this a box will appear on the screen and you should select the option "Launch" from this box. This action will launch AmiPro which will then allow you to view the Warrant. When finished you should select "File" from the AmiPro menu bar and then "Exit" from within the box which will appear below "File".
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: . Appendix for Business and Financial Services |
.99 Appendix B-Financial Statement as at 24/3/95- Appendix
HURSTVILLE CITY COUNCIL
FINANCE COMMITTEE MEETING HELD ON 5TH APRIL 1995
FINANCE COMMITTEE MEETING HELD ON 5TH APRIL 1995
His Worship the Mayor and Councillors
Civic Centre
HURSTVILLE
Following is a Financial Statement of the Council's position to the effect of Ordinance 26 (Form 2):-
GENERAL FUND
| Debit | Balance - Cash Account as at 3rd March 1995 | 611,342.14 |
| Deduct | Receipts for period ended 24th March 1995 | |
| A | Combined Rates and Charges | (251,574.59) |
| B | Miscellaneous | (3,472.261.19) (3,033,493.64) |
| Deduct | Payments for period ended 24th March 1995 | |
| A | Authorized last meeting | 162,351.25 |
| B | Paid since last meeting subject to confirmation | 3,281,105.58 |
| C | Bank Charges | 1,346.73 3,444,803.56 |
| Debit | Balance - Cash Account as at 24th March 1995 | 411,309.92 |
| Add | Accounts now presented for approval | 173,535.88 |
| Debit | Balance after payment of accounts presented for approval to pay | $ 584,845.80 |
| Other unpaid accounts in the Office amount to | $ 12,395.42 |
| Limit of overdraft arranged with Bank | $150,000.00 |
| Limit of overdraft as authorized by Auditors' certificate dated 12th August, 1994 | $13,442,000.00 |
| Fixed Deposits:- Trust Fund General Fund Trust A/c Sec 94 Funds Reserve Accounts (below) Main Roads Trust Fund General Reserve Fund | 3,169,892.17 11,325,896.10 3,302,496.76 9,057,940.22 612,505.00 2,694,474.50 $30,163,204.75 |
Balance at Credit in Reserve Accounts funds as at 24th March 1995 as follows:-
| Employee Entitlements | $ 2,342,070.00 |
| Capital Works Reserve | $ 5,081,385.97 |
| Development Reserve | $ 1,634,484.25 $ 9,057,940.22 |
This is Appendix "B" mentioned in Item No. 2 (Financial Statement, Form 2) of the Divisional Manager - Business & Financial Services' Report to the Meeting of the Finance Committee of the Council of the City of Hurstville held on 5th April 1995, referred to in the report of such Committee.
| HURSTVILLE CITY COUNCIL REPORT ITEM NO: . Appendix for Business and Financial Services |
.99 Appendix C - Job Cost Report-Expenditure to 24/3/95- Appendix
To view the Job Cost Report please double click with your mouse pointer on the icon which appears below. When you have done this a box will appear on the screen and you should select the option "Launch" from this box. This action will launch Notepad which will then allow you to view the Job Cost Report. When finished you should select "File" from the Notepad menu bar and then "Exit" from within the box which will appear below "File".