Annual Report 07/08 - Lithgow City Council

Principal Activity AchievementsTo ensure high servicelevels of Council'sinformation andcommunications network.To comply with currentlicensing requirements.To enhance Council'sgeographical informationsystem.Value and report on current assetsat fair value in conjunction with thefinancial reporting requirements.Maximise and secure Council'sInvestment Portfolio through avariety of investment institutions,types and terms.Manage Council's loan portfolio.Assist in the external audit ofCouncil's financial records.Prepare a 10 year financial plan andinclude strategies to improveCouncil's current financial ratios.Prepare applications and administergrant funding.Information TechnologyManage and maintain thecommunications networks.Manage the leases for copying andprinting machines.Renew software licenses.Maintain and continue developmentof the geographical informationsystem to ensure integrity withCouncil's property system.The revaluation of water andsewerage assets at fair value wasincluded in the draft 2006/07General Purpose FinancialReports.Revaluation of land and buildingassets to Fair Value wereundertaken during 2007/08 andwill be included in GeneralPurpose Reports for 2007/08.Investing was conducted inaccordance with legislation andCouncil’s Policy.Investments as at 30 June 2008$14,712,344.38. Actual interestreceived to 30 June 2008$1,041,270.65Principal loan and interest paid inaccordance with loan conditions.No borrowings to be drawn downin 2007/08 (Min no. 07-562)An external audit of 2006/07General Purpose FinancialReports was conducted by theAuditors in Sept / Oct 07.Two interim audit visits werecarried out before the end of the2007/08 financial year.A draft 10 year financial plan wasprepared in conjunction with the2008/09 – 2010/11 ManagementPlan and reported to Council.Central West Alliance appointed aGrants Officer to be based atCouncil.6 grant applications weresubmitted and grant income andexpenditure was prepared inaccordance with grant conditions.The network was operational andaccessible an average of 98.25%of the time.Copying machines wereoperational an average 98% ofthe time.All software licensing was currentthroughout 2007/08.There was an average of 97%property match during 2007/08.________________________________________________________________________________________________Annual Report – 2007/ 2008 Page 45