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 19TH DECEMBER, 2001


02:01 Stores & Materials - Surpluses and Deficiencies as at 9th November, 2001
(Report by Manager - Purchasing and Supply, Mr Philip Crutchley)
:01 Appendix "A" - Stocktake Reconciliation Variances - November, 2001

02:02 Department of Housing - Non-Rateable Land Classification (012807, 001157)
(Report by Manager - Rates, Mr William Wood)

02:03 Certificate of Cash & Investments
(Report by Divisional Manager - Business & Financial Services, Mr David Rosenbaum)

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: .
BUSINESS & FINANCIAL SERVICES
DIVISIONAL MANAGER - BUSINESS AND FINANCIAL SERVICES
REPORT NO 01 TO THE FINANCE COMMITTEE
TO BE HELD ON 19/12/2001

The General Manager
Hustville City Council
The Civic Centre
HURSTVILLE

Dear Sir,

Hereunder is my report No.01 to be submitted to the Finance Committee:-


02.01 STORES & MATERIALS - SURPLUSES AND DEFICIENCIES AS AT 9TH NOVEMBER, 2001
(Report by Manager - Purchasing and Supply, Mr P Crutchley)




REASON FOR REPORTSix (6) monthly Stocktake
DOES AN EXISTING POLICY COVER THIS MATTERNo
IF “NO”, SHOULD A POLICY BE DEVELOPED?No
FINANCIAL IMPLICATIONS, IF ANYAdjustment to Stock Inventory
PRECIS OF RECOMMENDATIONApproval of Stocktake Adjustment

HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: .01
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation STORES & MATERIALS - SURPLUSES AND DEFICIENCIES AS AT 9TH NOVEMBER, 2001
(Report by Manager - Purchasing and Supply, Mr P Crutchley)

RECOMMENDATION

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: .
BUSINESS & FINANCIAL SERVICES


02.02 DEPARTMENT OF HOUSING - NON-RATEABLE LAND CLASSIFICATION (012807, 001157)
(Report by Manager - Rates, Mr W Wood)



The Department of Housing has applied for rate exemption under Section 555 (1) (a) of the Local Government Act, on their two vacant properties located at 76 Lorraine Street Peakhurst and 19 Wilson Street, Narwee from 24 September, 2000 and 17 December, 2000 respectively. The sites are subject to redevelopment.

Section 555 (1) (a) of the Local Government Act provides that land is exempt from all rates “that is owned by the Crown, not being land held under a lease for private purposes”.

It is considered that ownership and usage of the sites is in accordance with the Act, the lands should be classified as non-rateable land from 24 September, 2000 and 17 December, 2000 respectively.

HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: .02
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation DEPARTMENT OF HOUSING - NON-RATEABLE LAND CLASSIFICATION (012807, 001157)
(Report by Manager - Rates, Mr W Wood)

RECOMMENDATION

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: .
BUSINESS & FINANCIAL SERVICES


02.03 CERTIFICATE OF CASH & INVESTMENTS (Report by Divisional Manager - Business & Financial Services, Mr David Rosenbaum)

cernov.exe

HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: .03
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation CERTIFICATE OF CASH & INVESTMENTS (Report by Divisional Manager - Business & Financial Services, Mr David Rosenbaum)
RECOMMENDATION

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: .
BUSINESS & FINANCIAL SERVICES


02.04 REVALUATION OF PROPERTIES WITHIN HURSTVILLE CITY COUNCIL AREA
(Report by Manager - Rates, Mr W Wood)



The Valuer General has recently completed a full revaluation of properties within the Hurstville City Council area. The Valuer General is required by legislation to provide valuations to Council every four years. The previous revaluation was conducted by the Valuer General in 1997 and the new values must be used by Council for rating purposes.

The net effect of the revaluation, which will be effective from 1 July 2002 for rating purposes across all properties in the City, is a rise in rateable values of 41.85%. The breakdown of this in comparison to the previous valuation between residential, business and non-rateable properties is as follows: -

Type of Property
Base Date 1/7/1997
Valuations
Base Date 1/7/2001 Valuations
Percentage Difference
Rateable Residential
4,227,420,591
6,006,702,024
42.08%
Rateable Business
417,798,107
582,542,887
39.43%
Rateable Sub Total
4,645,218,698
6,589,244,911
41.85%
Non Rateable
106,917,432
146,904,849
37.40%
Total
4,752,136,130
6,736,149,760
41.74%


All property owners will be advised of their property’s revaluation by the Valuer General in January 2002 and given an opportunity to lodge an objection, if warranted, with the Valuer General (not Council).

In applying for a review of the revaluation, the property owner should set out the reasons for which the objection is based and an estimation of what the value should be. It is not expected that many changes in valuations will occur as a result of this process, as past experience has shown only a few enquires are received by Council concerning the change of valuation.

The increase in the level of the revaluation has no effect on the total income rate base of Council. Annually, the State Government sets the permissible total rate increase amount that Council can increase its rate base. Consequently, the latest revaluation has the effect of re-distributing how Council’s permissible level of rate income is raised from ratepayers. Following the revaluation of any Council area, rate levies will vary accordingly from the previous rating period.

HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: .04
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation REVALUATION OF PROPERTIES WITHIN HURSTVILLE CITY COUNCIL AREA
(Report by Manager - Rates, Mr W Wood)

RECOMMENDATION

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: .
Appendix for Business and Financial Services



.01 APPENDIX "A" - STOCKTAKE RECONCILIATION VARIANCES - NOVEMBER, 2001


Stocktake Recon. Variances - November,2001..xls