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. 1/95 (Appendix 'A' To Divisional Manager's Report) (F/00009)

Financial Statement (Form 2) As At 6Th January 1995 (Appendix 'B' To Divisional Manager's Report) (F/00009)

Council Investments As At 6Th January 1995 (F/00009)

Job Cost Report - Expenditure To 6Th January 1995 (Appendix 'C' To Divisional Manager's Report) (F/00009)

Report On Rate Collections For Period 1/7/1994 To 31/12/1994

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: 02.01
BUSINESS & FINANCIAL SERVICES
DIVISIONAL MANAGER - BUSINESS AND FINANCIAL SERVICES'
REPORT NO 1 TO THE MEETING OF THE FINANCE COMMITTEE
TO BE HELD ON 18TH JANUARY, 1995

The General Manager
Civic Centre
HURSTVILLE

Dear Sir,

Hereunder is my report No.1 to be submitted to the FINANCE Committee:-


02.01 WARRANT NO. 1/95 (APPENDIX 'A' TO DIVISIONAL MANAGER'S REPORT) (F/00009)


The following accounts are now submitted for examination and recommendation by the Finance Committee:-

General Fund256460-257040 incl$ 3,070,972.07
257041-257247 incl 160,260.23$ 3,231,232.30
Trust Fund406835-406902 incl 965,806.56
$ 4,197,038.86



HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: 02.01
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation WARRANT NO. 1/95 (APPENDIX 'A' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
RECOMMENDATION

HURSTVILLE CITY COUNCIL
REPORT ITEM NO: 02.02
BUSINESS & FINANCIAL SERVICES


02.02 FINANCIAL STATEMENT (FORM 2) AS AT 6TH JANUARY 1995 (APPENDIX 'B' TO DIVISIONAL MANAGER'S REPORT) (F/00009)


HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: 02.02
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation FINANCIAL STATEMENT (FORM 2) AS AT 6TH JANUARY 1995 (APPENDIX 'B' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
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 6TH JANUARY 1995 (F/00009)


Report by Divisional Manager:

The following tables give details of Council's funds invested as at 6th January 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
%
DaysDue Date
(a) Term
Deposits
09.12.94N.A.B. 6,484,352.95
7.20
30
09.01.95
(b)
Commercial
Bills
06.01.95C.B.A. 1,989,118.16
7.68
26
01.02.95
10.11.94C.B.A. 3,955,445.43
6.74
61
10.01.95
22.11.94National 1,972,685.07
7.22
69
31.01.95
28.11.94Westpac 4,937,238.90
7.03
66
02.02.95
28.11.94Westpac 2,469,089.04
7.03
65
01.02.95
16.11.94Westpac 1,474,567.95
7.32
86
10.02.95
28.11.94Challenge 1,284,414.98
7.03
63
30.01.95
01.11.94ANZ 3,932,109.15
6.85
92
01.02.95
$22,014,668.68
(c) Money on
Overnight
Call
$2,402,414.92
(d)
Promissory
Notes
Nil
Total
Investments
$30,901,436.55
SUMMARY OF INVESTMENTS

(a)
Term Deposits$ 6,484,352.95
(b)
Commercial Bills$22,014,668.68
(c)
Money Market$ 2,402,414.92
(d)
Promissory Notes$ Nil
TOTAL:$30,901,436.55



HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: 02.03
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation COUNCIL INVESTMENTS AS AT 6TH JANUARY 1995 (F/00009)
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 6TH JANUARY 1995 (APPENDIX 'C' TO DIVISIONAL MANAGER'S REPORT) (F/00009)


HURSTVILLE CITY COUNCIL
RECOMMENDATION NO: 02.04
BUSINESS & FINANCIAL SERVICES

HEADING: Recommendation JOB COST REPORT - EXPENDITURE TO 6TH JANUARY 1995 (APPENDIX 'C' TO DIVISIONAL MANAGER'S REPORT) (F/00009)
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 31/12/1994



Type of
Charges
Arrears
$
Current
$
Collections
$
Outstanding
Balance
$
Combined
Rates &
Garbage
Charges
341,497
19,491,490
-11,532,923
6,617,477
Pension
Rebates
-1,682,587
Extra
Charges
180,484
26,924
- 47,030
160,378
521,981
17,835,827
-11,579,953
6,777,855



Collections to 31st December 1994 represent 63.08% of the total amount of Rates and Charges recoverable and 64.93% of the 1994/1995 Levy.

Collections for the equivalent period during 1993 were 69.21% and 71.20%, 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 third instalment payment for the 1994/1995 levy is not until 28 February, 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 31/12/1994
RECOMMENDATION

THAT the information be received and noted.

* * * * * * *

Yours faithfully,




W D Bradey,
Divisional Manager-
Business & Financial Services