27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)
27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)
27 February 2007 - Ordinary Meeting of Council (pdf. 14MB)
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<strong>Ordinary</strong> <strong>Meeting</strong> <strong>of</strong> <strong>Council</strong> - <strong>27</strong> <strong>February</strong> <strong>2007</strong> 11 / 10<br />
Item 11<br />
S04708<br />
19 <strong>February</strong> <strong>2007</strong><br />
o An adequate level <strong>of</strong> working capital (the funding "bottom line") in each year<br />
o Adequate levels <strong>of</strong> reserves<br />
o Declining and sustainable levels <strong>of</strong> debt<br />
o Ensuring capital expenditure is maintained at real cost levels<br />
o Controlling levels <strong>of</strong> operational costs to match available revenues<br />
The model, as adopted by <strong>Council</strong> shows that our current budget is sustainable in the future and that<br />
the key outputs mentioned above can be achieved.<br />
<strong>Council</strong>’s investment portfolio has grown substantially over the first half <strong>of</strong> the year. As a result<br />
several different types <strong>of</strong> investments have been analysed to ensure that <strong>Council</strong> maximises its<br />
returns on investments while also ensuring compliance with the relevant legislation and policies and<br />
considering projected cash balances. Year to date returns to end <strong>of</strong> the first quarter were 8.25%<br />
which was 1.98% above the benchmark rate <strong>of</strong> 6.<strong>27</strong>%.<br />
‣ <strong>Council</strong>’s Corporate Services<br />
The upgrade to <strong>Council</strong>’s financial management information s<strong>of</strong>tware was completed in December<br />
2006. This will allow for integration <strong>of</strong> other sub systems in the future, the first <strong>of</strong> which will be the<br />
implementation <strong>of</strong> a new payroll/HR system. It is anticipated that this will occur in the later half <strong>of</strong><br />
this financial year.<br />
During the second quarter a preferred s<strong>of</strong>tware supplier was selected for the upgrade <strong>of</strong> <strong>Council</strong>’s<br />
web site. The redesign has been complete and improved functionality includes:<br />
o e-newsletters<br />
o online forms<br />
o advanced search<br />
o business paper search<br />
o site map<br />
o personalisation module where users can save their favourite documents and images<br />
o restructure on information<br />
The website is currently in draft form with additional data being updated. Launch is scheduled for<br />
March <strong>2007</strong>.<br />
CONSULTATION<br />
Not applicable.<br />
FINANCIAL CONSIDERATIONS<br />
The requirements outlined in the Management Plan 2006-2010 are funded in <strong>Council</strong>’s budget.<br />
N:\0702<strong>27</strong>-OMC-SR-03651-2006 TO 2010 MANAGEMENT P.doc/rmcwilliam /10
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