Post on 22-Aug-2020
The Public Trustee – Mission
To deliver a full range of professional, accessible and reliable trustee, financial and related services in a supportive,
compassionate and ethical manner.
The Public Trustee – Vision
To be Queensland’s best provider of trustee and administration services.
Annual Report
2009-2010
The Public Trustee
The Public TrusteeThe Public Trustee is an independent statutory authority that reports to Queensland Parliament through Queensland’s Attorney-General and Minister for Industrial Relations.
Operating as a corporation sole constituted under the Public Trustee Act 1978 we provide professional, accessible and reliable, trustee, financial and related services to Queenslanders.
For the purpose of this report The Public Trustee of Queensland refers to the independent statutory individual and The Public Trustee refers to our organisation as a whole.
The Public Trustee Annual Report 2009-10 is available at: www.pt.qld.gov.au
Marketing and CommunicationPhone: (07) 3213 9339 Email: marcoms@pt.qld.gov.au
Interpreter Service StatementWe are committed to providing accessible services to people with disability and people from culturally and linguistically diverse backgrounds. If you require assistance accessing this report phone 07 3213 9421.
Phone: 1300 360 044 Vist: www.pt.qld.gov.au
Contact UsBRISBAneTrustee House, 444 Queen Street, Brisbane GPO Box 1449, Brisbane, QLD 4001 Phone: (07) 3213 9288 Email: clientenq@pt.qld.gov.au Website: www.pt.qld.gov.au
BundABeRgTrustee House, 189 Bourbong Street, Bundaberg GPO Box 860, Bundaberg, QLD 4670 Phone: (07) 4181 0800 Email: pt_bundaberg@pt.qld.gov.au
CAIRnSTrustee House, 27 Sheridan Street, Cairns PO Box 656, Cairns QLD 4870 Phone: (07) 4040 7300 Email: pt_cairns@pt.qld.gov.au
glAdSToneTrustee House, 66 Goondoon Street, Gladstone PO Box 5021, Gladstone QLD 4680 Phone: (07) 4962 1100 Email: pt_gladstone@pt.qld.gov.au
IPSwIChTrustee House, 99 Brisbane Street, Ipswich PO Box 140, Ipswich QLD 4305 Phone: (07) 3432 6611 Email: pt_ipswich@pt.qld.gov.au
MACkAyTrustee House, 18 Brisbane Street, Mackay PO Box 401, Mackay QLD 4740 Phone: (07) 4969 4600 Email: pt_mackay@pt.qld.gov.au
MARyBoRoughTrustee House, 88 Ellena Street, Maryborough PO Box 280, Maryborough QLD 4650 Phone: (07) 4183 0900 Email: pt_maryborough@pt.qld.gov.au
MounT ISATrustee House, 18 Miles Street, Mount Isa PO Box 2000, Mount Isa QLD 4825 Phone: (07) 4764 0500 Email: pt_mountisa@pt.qld.gov.au
nAMBouRTrustee House, 72 Currie Street, Nambour PO Box 402, Nambour QLD 4560 Phone: (07) 5444 9400 Email: pt_nambour@pt.qld.gov.au
RedClIffeTrustee House, 165 Sutton Street, Redcliffe PO Box 131, Redcliffe QLD 4020 Phone: (07) 3817 9100 Email: pt_redcliffe@pt.qld.gov.au
RoCkhAMPTonTrustee House, 67 East Street, Rockhampton PO Box 273, Rockhampton QLD 4700 Phone: (07) 4999 3600 Email: pt_rockhampton@pt.qld.gov.au
SouThPoRTTrustee House, 66 Nerang Street, Southport PO Box 876, Southport QLD 4215 Phone: (07) 5588 5333 Email: pt_southport@pt.qld.gov.au
STRAThPIneTrustee House, 9/481 Gympie Road, Strathpine PO Box 313, Strathpine QLD 4500 Phone: (07) 3142 1900 Email: pt_strathpine@pt.qld.gov.au
SunShIne CoAST Suite 1-3, 20 Innovation Parkway, Birtinya PO Box 49, Buddina QLD 4575 Phone: (07) 5314 1800
ToowooMBA
Trustee House, 447 Ruthven Street, Toowoomba PO Box 139, Toowoomba QLD 4350 Phone: (07) 4631 8100 Email: pt_toowoomba@pt.qld.gov.au
TownSVIlleTrustee House, 438 Flinders Street, Townsville PO Box 960, Townsville QLD 4810 Phone: (07) 4753 0111 Email: pt_townsville@pt.qld.gov.au
© No part of this Annual Report may be reproduced in any format without the written approval of The Public Trustee of Queensland.
ABN 12 676 939 467
For more information about the services of The Public Trustee please visit www.pt.qld.gov.au
Regional Service delivery
Cairns
Townsville
Mount IsaMackay
Rockhampton
gladstoneBundaberg
Maryborough
nambourRedcliffeStrathpineBrisbane Metro
SouthportIpswich
Toowoomba
Sunshine Coast
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Our Purpose
To provide professional and accessible services in:
• DeceasedEstateAdministration
• Trusts
• Willmaking
• Financialmanagementforthosewithimpairedcapacity
• Facilitatingphilanthropy.
Our Values
Client Service
• Strivingforexcellenceineverythingwedo
• Developingenduring,respectfulandcompassionaterelationshipswithourclients
• Respondingtonewandemergingclientneeds.
Integrity
• MaintainingthehigheststandardsofethicalpracticeasTrusteesandAdministrators.
Accountability
• Weareresponsibleforouractions,decisionsandperformance
• Westrivefortransparencyindecision-makingandrelevanttimelydisclosuretoourclientsandtheircarers.
Our Ethics
Weconductouraffairsincompliancewithapplicablelawsandregulations,observingthehigheststandardsofprofessionalandbusinessethics.
ACodeofConductappliestoallouremployeesandaccordswiththeprinciplesofthePublic Sector Ethics Act 1994.
The Public Trustee – Vision
TobeQueensland’sbestprovideroftrusteeandadministrationservices.
The Public Trustee – Mission
Todeliverafullrangeofprofessional,accessibleandreliable,trustee,
financialandrelatedservicesinasupportive,compassionate
andethicalmanner.
OurVisionandMission
ContentsOur Vision and Mission 1
Public Trustee of Queensland 5
Yearinreview 6
Ourhighlights 8
Achievementsagainstour StrategicPlan2009-2013 9
OurToward Q2achievements 11
Ourdisabilityandtrustclients 15
Sustainability 16
AboriginalandTorresStrait Islanderpeople 18
OurCommunityServiceObligations 19
Ourfinancialhighlights 21
Our Corporate Governance 25
Ourcorporategovernance framework 26
Ourorganisationalstructure 28
Ourboardsandcommittees withexternalmembers 33
Internalcommitteesand workinggroups 34
Client Services 37
ClientServices 38
Our Regional Offices 42
Ourregionaloffices 43
Philanthropic Trusts 51
PhilanthropicTrusts 52
Office of the Official Solicitor 57
OfficeoftheOfficialSolicitor 59
Organisational Support 64
OrganisationalSupport 65
Investment Services 69
InvestmentServices 70
Human Resources 75
HumanResourceManagement 76
Financial Statements 83
Investment Trusts 113
Legislation 134
Glossary 135
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22September2010
TheHonourableCameronDickMPAttorney-GeneralandMinisterforIndustrialRelations18thFloor,StateLawBuilding50AnnStreetBrisbaneQld4000
DearAttorney-General
IampleasedtopresenttheAnnualReport2009-2010forThePublicTrustee ofQueensland.
IcertifythatthisAnnualReportcomplieswith:• theprescribedrequirementsoftheFinancial Accountability Act 2009andtheFinancial
and Performance Management Standard 2009,and
• thedetailedrequirementssetoutintheAnnual Report Requirements for Queensland Government Agencies.
Achecklistoutliningtheannualreportingrequirementscanbeaccessedat www.pt.qld.gov.au
Yourssincerely
PeterCarneThePublicTrusteeofQueensland
PublicTrustee ofQueensland
Jondaryan, Queensland. Courtesy of Tourism Queensland.
Brisbane, Queensland. Courtesy of Tourism Queensland.
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The2009-10financialyear,hasseenusbuildonour94yearsoftraditiontoensurewewillhaveastrongandsustainablefuture.ThePublicTrusteehasenduredsince1916becauseoftherelevanceandqualityoftheservicesweprovidetoQueenslanders.
Duringtheyear,myteamofover500dedicatedstafflocatedacrosstheState,haveworkedhardtoensureweachieveourvision – To be Queensland’s best providers of trustee and administration services.IthankthemfortheirsupportanddedicationastheyembracedourprioritiesforchangeandassistedthousandsofQueenslanderstoplanfortheirfutures.
WithQueensland’sageingpopulationrapidlyincreasing,ithasneverbeenmoreimportanttoeducatepeopleabouttheimportanceoffutureplanning.Thisyearourstaff,inadditiontopreparingalmost24,000freeWillsforQueenslanders,attendednumerousspeakingengagementsandeventsintheirlocalregionstoraiseawareness.
Thisyear,IalsopersonallysupportedPlanning for LifeforumsdevelopedbytheDepartmentofJusticeandAttorney-General.TheseforumsheldacrosstheState,raisedawarenessoftheneedforallQueenslanderstohaveavalidWillandappointanEnduringPowerofAttorney.
TheforumsalsoeducatedparticipantsaboutthemanywaysinwhichtheQueenslandCivilandAdministrativeTribunal,TheAdultGuardianandThePublicTrusteeprotectvulnerablepeople.
The2009-10financialyearwasoneofeconomicpressureformanyQueenslandersandwesawanincreaseinthenumberofcaseswheretheQueenslandCivilandAdministrativeTribunalappointedThePublicTrusteeasAdministratorforpeopleunabletomanagetheirfinancialaffairs.Sadly,thisisoftenduetoallegationsofmismanagementormisuseofavulnerableperson’sfunds.
Yearinreview
Ithasneverbeenmoreimportanttoeducatepeopleabouttheimportanceoffutureplanning.
Peter Carne, The Public Trustee of Queensland.
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AsPublicTrusteeofQueensland,Iamcommittedtoensuringthatweprotecttheinterestsofthesepeoplewhodonothavecapacitytomanagetheirfinancialaffairs.EverydayweassistthethousandsofQueenslandersforwhomweareappointedFinancialAdministratorandourlegalteamperformsanoutstandingroledefendingtherightsofsomeofthesevulnerableclients.
Inadditiontoprotectingourclients’legalrights,wealsoprotectedtheirassets. Thisyear,ourinvestmentteamoversawalmost$1.17Binfundsundermanagement,asignificantachievementintheseeconomictimes.
Duringthefinancialyear,weprovidedover$22.1MworthofCommunityServiceObligationstothepeopleofQueensland,atnocosttotheStateGovernment.Thisincludedpreparingalmost24,000Willsfreeofcharge,managingtheaffairsofover7,400disabilityclientsandactingasTrusteeforanumberofleadingQueenslandcommunityfoundationsandtrusts.WealsoprovidedfundingtowardtheoperationsoftheOfficeoftheAdultGuardianandthemuchneededQueenslandCivilLawLegalAidScheme.
OurotherachievementsincludedcommencingtheimplementationofourStrategic Plan 2009-2013,andreviewingourorganisationthroughaworkforceplanninganddevelopmentproject.Thisprojecthasseenusconsultwithourstaffatalllevels,inallourofficesacrossQueensland.
TheresultsofthisreviewwillbeimplementedinthenexttwelvemonthsasweincreaseourabilitytorespondtotheQueenslandcommunity’schangingneeds,bothnowandinthefuture.
AstheState’sageingpopulationincreases,sowillthenumberofpeopleunabletomanagetheirfinancialaffairs.ItwillbevitalforQueensland’scommunityandjusticesystemthatwearepreparedtomeetthischallengeandweensureasmoothtransitionofwealthfromgenerationtogeneration.Ourcurrentstrategicobjectiveistoensurewemeetourincreasingcommunityserviceobligationswhilestillremainingasustainableandfinanciallyviableorganisation.
Forthesereasons,the2010-11financialyearandbeyondwillseeusworkinghardtoimprovethequalityandaccessibilityofourservices.WewillopenanewSunshineCoastRegionalOfficeandcontinuetomaintainourservicestotheNambourcommunity.Wearealsore-developingourRedcliffeRegionalOfficetomeettheregion’sgrowingpopulationofretireesandincreasingourservicestotheRedlandBayarea.
WearecommittedtoensuringmoreQueenslanderscanaccessourservicesandexpertise.ThecomingyearwillseeusdevelopandimplementstrategiestobettermeettheneedsofpeoplelivinginruralandremotecommunitiesandAboriginalandTorresStraitIslanderpeople.
Justasweareencouragingourclientstoplanfortheirfuture,ourcurrentplansforThePublicTrustee’sfuturewillensureoursustainabilityandhelpmeettheGovernment’sToward Q2aimofcreatingafairerQueenslandforusall.
WearecommittedtoensuringmoreQueenslanderscanaccessourservicesandexpertise
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Ourhighlights
Assisting disadvantaged Queenslanders Weprovidedover$15MinfundingforfreeorsubsidisedservicestoassistdisadvantagedQueenslanders.Theseclientsmaynotbeabletoaffordourservicesorthelegalprotectiontheyneed.ThissupportwassuppliedatnocosttotheQueenslandGovernment.Visitpage19tofindoutabouttheseCommunityServiceObligations.
Supporting adults with impaired capacityWeassistedover7,400clientswithimpairedcapacitytomanagetheirfinancialaffairsinourroleastheirAdministrator.Includingpreparingover3,000taxreturnsonbehalfofourclients.Visitpage15tofindoutmore.
Philanthropy – Queenslanders helping QueenslandersWeactedasTrusteeforsomeofQueensland’sleadingphilanthropictrustsandfoundations.Indoingthiswedistributedover$1.24Mtocharitableandnot-for-profitorganisationsacrosstheState.Visitpage52tofindoutmore.
Our services stretched across QueenslandOur16regionalofficesreachfromSouthporttoCairns,MountIsaintheWestandToowoombaintheSouthWest.TobetterserveQueenslandwemadetravellingWillvisitsandpartneredwithCourthouses,CentrelinkOfficesandQueenslandGovernmentAgencyProjectOffices.Visitpage43tofindoutmore.
Planning for Life – Wills and Estate servicesWearethelargestprovideroffreeWillsinAustralia,withalmost24,000Willspreparedthisyear.Wealsopreparedalmost3,600EnduringPowersofAttorneyandadministeredalmost2,500newDeceasedEstates.Visitpage38 tofindoutmore.
A significant Trustee organisationWeprotected$1.17Binfundsundermanagement,anincreaseof7.6%overthepreviousyear.Investmentreturnsformulti-sectorPublicTrusteeInvestmentFundsrelativetoourbenchmarkwerethebestinfouryears.Visitpage70tofindoutmore.
Going under the hammer – auctions and valuationsWeconductedover385auctions,sold172houses,5612motorvehiclesandincreasedoursalesoffurnitureandcomputersby16%,withover17,084lotsgoingunderthehammer.Wealsoarranged1,385valuationsonbehalfofDeceasedEstateandTrustClientsacrossQueensland.Visitpage65tofindoutmore.
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AchievementsagainstourStrategicPlan2009-2013Ourstrategicplanoutlinesourvision,valuesandprimaryobjectivesfor2009–2013. Thisyearwemadethefollowingachievementsagainsttheplan.
Our Primary Objectives: For the 2009-10 financial year we:
Delivering core services consistent with our legislative mandate in a commercial and client responsive manner.
• Experiencedsteadygrowthofourcoreservicesandpreparedalmost24,000Willsandalmost3,600EnduringPowersofAttorney.
• MetourobjectivestobethepreferredFinancialAdministratorforadultswithimpairedcapacity.
• IncreasedourWillsby14.6%,ourEnduringPowersofAttorneyby7.1%,ourDeceasedEstatesby2.3%andourTestamentaryTrustsby3.6%.
• IncreasedouroutreachservicessomoreQueenslanderscanaccessourfreeWillmakingserviceandhavetheirEnduringPowerofAttorneydrafted.
• PlannedfortheimplementationofClientServicesCentrestoensuremoreefficientandcosteffectiveservicedelivery.
• FinalisedourClientServicesoperationalplanswithourregionaloffices.
• ContinuedtoengagethecommunitythrougheducationforumsandinformationsessionsheldacrossQueensland.
• IncreasedfundsinourPhilanthropicTrustsundermanagementto$64M.
• Deliveredover$22.1MinCommunityServiceObligationsatnocosttotheQueenslandGovernment.
• Undertooksignificantplanninganddevelopmentofournewofficelocationstoexpandourservices.IncludingournewSunshineCoastRegionalOfficeopeninginAugust2010,whileensuringourNambourOfficekeepsservingthecommunity.WealsocommencedworkonourRedcliffeRegionalOfficetoensureitsaccessibilitytoourclientsandarrangedincreasedWillandEnduringPowersofAttorneymakingservicesintheRedlandBayregion.
• UndertooksignificantexpansionofthelearninganddevelopmentfunctionwithinHumanResources.Thisresultedinanincreaseinthetrainingbudgetandthenumberoftrainingstaff.
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Our Primary Objectives: For the 2009-10 financial year we:
Generating sufficient surpluses to fund a broad range of Community Service Obligations in line with the Government’s social objectives.
• ReviewedourinvestmentobjectivesandtheinvestmentstrategyofourCommonFundtoensureourinvestmentassetsandfundliabilitiesaremanagedinariskcontrolledenvironment.
• ReviewedthefeestructureofThePublicTrusteeInvestmentFundsandimplementedarevisedfeestructureon1January2010.
• Increasedourresourcesinourregionalofficestomeetincreasingcustomerdemand.
• Re-designedanddevelopedClientTransactionStatementsthatcanbeautomaticallygenerated.Thesewillberolled-outinthe2010-11financialyear.
• Re-negotiatedouragreementwithQFleettoauctiontheirsurplusvehiclesforafurtherthreeyears.
• Introducednewtechnologytoincreasestaffproductivity,includingrolling-outreportwritingsoftwareandhandheldPDAsystemsforourpropertyandvaluationsstaff.
• Re-structuredourformerPublicAffairsUnitandrecruitedaDirectorofMarketingandCommunicationtoassistustodevelopourbrandawarenessandimplementanintegratedmarketingandcommunicationstrategyinthe2010-11financialyear.
• UndertookareviewofourPropertyUnitincludingassessingthestructureandthefees,withimprovementsimplementedaccordingly.
Meeting the needs of all current and future PTO clients in an ethical, professional and responsive way.
• EnsuredstafftrainingwasprovidedtoallClientServicesstaffsotheycouldbetterunderstandtheneedsofclientswithadisability.
• Increasedourlearninganddevelopmentopportunities.TrainingincludingWillsanddocumentstraining,complaintsmanagementtraining,induction,codeofconductandservingclientswithadisability.
• CommencedprojectplanningtoestablishanewdocumentstoragefacilitytomeettheneedsoftheOfficeandhelpmeetQueenslandStateArchivesrecordkeepingstandards.
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OurToward Q2achievementsAsastatutorybodythatreportstotheQueenslandParliamentthroughtheAttorney-General,wehaveembracedtheGovernment’sToward Q2VisionforQueensland’sFuture.InadditiontoachievingourstrategicgoalswehavealsocontributedtotheToward Q2Vision.
Toward Q2 Priority
What we said in our Strategic Plan 2009-2013
Initiatives this financial year towards achieving these objectives.
Strong OurStrategic Plan 2009-2013 is directedtoachievingsustainablelong-termviability.ThisistoensurethedeliveryofservicesconsistentwiththelegislativemandateoftheOfficeinacommercialandclientresponsivemannerandtogeneratesufficient‘surplus’tofundCommunityServiceObligations
• Despitetheeconomicdownturnweprotectedour$1.17Bfundsundermanagement.
• Delivered$22.1MinCommunityServiceObligationstoQueenslandatnocosttotheQueenslandGovernment.
• Wearegeographicallystrongwith16officeslocatedacrossQueenslandservingthestate’smajorpopulationregions.WealsohavestrongrelationshipswithotherserviceproviderssuchasCourthouses,CentrelinkOfficesandQueenslandGovernmentAgencyProjectOfficesinareaswherewedon’thaveanOfficelocation.OurstaffalsoperformregularWillmakingvisitstoareaswithoutaregionaloffice.
• Developedourleadershipgoalsandarecontinuallyimplementingthemacrosstheorganisation.
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Toward Q2 Priority
What we said in our Strategic Plan 2009-2013
Initiatives this financial year towards achieving these objectives.
Green WeaimtominimisetheenvironmentalimpactofThePublicTrustee,inrespectoftheaccommodationweownandthewayinwhichwegoaboutourwork.
• OurnewofficesaredevelopedwithAustralianGreenhouseratingsinmind.Wherepossiblewehaveinstalledenergyefficientlighting,watersavingdevices,sensorsandenergyefficientair-conditioning,reflectivewindowsandheatreflectingroofinginourfit-outs.
• Implementedanumberofwaste,waterandenergysavinginitiativesresultinginasavingof:
– 1.919,267kwhsavingin powerusage
– $143,000onenergyrelatedexpenses
– 624CO2-eingreenhouseemissionswhichisequivalenttoplanting782trees
– 40%incleanpaperfortheyearasweencouragedourstafftoreducewaste,recycleandusepaperlesselectronictechnology.
Smart AspartofourStrategic Plan 2009-2013wewilldevelopacomprehensiveworkforceplan.Wewillensureourstaffareproperlyandfullytrainedandskilledtoserveourdiverseclientbase.
• Assessedourtrainingneedsforallouroperationstreamsandthelearninganddevelopmentneedsofstaffatmiddleandseniormanagerlevel.
• IncorporatedourCapabilityLeadershipFramework(CLF)intoourroledescriptionsandtrainingresponsestoensureincreasedreadinessofnewandexistingstaff.
• Deliveringspecialisttraininginprojectmanagement,complaintsmanagementtraining,Willstraining,corporateinductionandservingclientswithadisability.
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Toward Q2 Priority
What we said in our Strategic Plan 2009-2013
Initiatives this financial year towards achieving these objectives.
Smart ThePublicTrusteeintendstofurtheritsinnovativeuseoftechnologyinsupportoftheservicesitprovides.
• ContinuedourpartnershipwiththeUniversityofQueensland–SchoolofSocialWorkandHumanServicesUnittosupportresearchinto“Financing and Management of Lifetime Care of Adults with Acquired Disability and High Care Needs.”
• ContinuedthedevelopmentofourhighlysuccessfulClientInformationSystem(CIMS).
• Deliveredcommunityeducation andawarenesssessionsthroughouttheState.
• SupportedTheDepartmentofJusticeandAttorney-General’sPlanning for LifeforumstopromotetheimportanceofallQueenslander’shavingavalidWill,HealthandPersonalAttorneyandFinancialAttorney.ThesealsoraisedawarenessofhowtheQueenslandCivilandAdministrativeTribunal,TheOfficeoftheAdultGuardian,ThePublicAdvocateandThePublicTrusteeoperatetoprotectvulnerableQueenslanders.
• ImprovedourWillMakingtrainingfornewemployeesanddeliveredrefreshertrainingwithacustomerservicefocusforstaffinvolvedintheWillMakingprocess.
Healthy ThroughourStrategic Plan 2009-2013 andaspartofourworkforceplanningwewillfocusonthehealthandthecapacityofourstaff.
• Deliveredongoingawarenessandpracticallybasedtrainingondisability,mentalhealthandpro-socialbehaviours.Thissupportsservicedelivery,minimisespotentialstressandhelpsimprovesafetyforourstaff.
• Providedfreeaccesstoacounsellingserviceforourstaff.
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Toward Q2 Priority
What we said in our Strategic Plan 2009-2013
Initiatives this financial year towards achieving these objectives.
Fair ThePublicTrustee’sStrategic Plan 2009-2013isintendedtoensurethatstaffarefairlymanaged,appropriatelyskilledanddeveloped.ThecentralpurposeoftheOfficeistoprovideimportantservicestothepeopleofQueensland,partofthedeliveryofafairandjustsociety.ThePublicTrusteeinthisregardintendsto:
• ProvideaWillmakingservice toensurethatallQueenslandershaveaccesstothepreparationofavalidWillinordertoavoidthecostsandexpensesofintestacies.
• ContinuetoactasAdministratorforadultswithimpairedcapacitywheresuchappointmentsareappropriate.AdministratorsarepartofaGuardianshipframeworkwithinQueenslandthatseekstoappropriatelyassistadultswithsuchincapacitieswhilstbalancingtheadults’needandrighttoparticipationindecision-making.
• ThePublicTrusteewillextenditsroleasaTrusteeforphilanthropictrustswhichhaveattheircentrecharitablepurposesdirectedtoimprovingaspectsoflifeinQueensland.
• Deliveredover$22.1MinCommunityServiceObligationstothecommunityatnocosttotheQueenslandGovernment.
• ExpandedourWillMakingservicetoensureweareaccessibletomoreQueenslanders.IncludingopeninganewSunshineCoastRegionalOffice,whileretainingourNambourOffice.IncreasingourservicesintheRedlandBayareaandrefurbishingourRedcliffeOfficetocatertothisgrowingregion.
• DeliveredincreasedservicesthroughanextensivenetworkofCourthousesandCentrelinkOfficesandQGAPagentsacrosstheStatetoenhancedeliveryofourservicesinruralandremoteareas.
• MaintainedourleadroleasFinancialAdministratorforadultswithimpairedcapacityasappointedbytheQueenslandCivilandAdministrationTribunal.Oftenthisisasaresultofallegationsofabuseormismanagementoffunds.
• EducatedourClientServicesstaffabouttheimportanceofmeetingtheneedsofourclientswithinourDisabilityServiceStandards.
• Providedsecure,independent,andaccountableTrusteeservicesforanumberofphilanthropiccommunityfoundations.Weapprovedgrantsof$1.24MtobeusedforphilanthropicpurposesacrossQueensland.
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OurdisabilityandtrustclientsWeprovideacosteffectivefinancialmanagementservicetoourclients.Thisincludesaccesstoinvestment,legal,propertyandassociatedservices.
OurDisabilitySupportOfficerprovidesspecialisedassistanceandadviceaboutarangeofdisabilityrelatedmatters.ThiscanincludeprovidingTrustOfficerswithinformationaboutgovernmentandnon-governmentservices,specialistmedicalequipment,homeandvehiclemodificationandaccommodationsupportservices.
OurDisabilitySupportOfficeralsohelpstoidentifysupportservicesthatourindividualclientsmightrequire.Thisserviceisprovidedatnocosttoourclients.
WeactforourclientsinaccordancewiththeGeneralPrinciplesassetoutintheGuardianship and Administration Act 2000.
OurDisability Service Standardsareto:
• Promoteparticipationinplanninganddecision-makingbyclients,theirfamiliesandotherkeypeople
• Ensurethatclientsaretreatedasindividuals
• Recogniseandrespondtodiversity
• Promoteindependenceandquality of life
• Provideaccountabilityinpracticesandprocedures.
WithQueenslandexperiencingarapidincreaseinitsageingpopulation,thenumberofadultswithanincapacityisalsoincreasing.Werecognisethisgrowingneedandarecommittedtoprovidingaccessibleservicestothisgrowinggroup ofQueenslanders.
WeareoftenrequestedtoassistQueenslanderswhoareunabletomakedecisionsaboutfinancialmattersthemselves.ThiscanoccurfollowingourappointmentasFinancialAdministratorunderanOrderoftheCourtorbytheQueenslandCivil&AdministrativeTribunal.
Ourregionalofficesprovidearangeofservicestailoredtoourclient’sindividualneeds.Westrivetoprovideourclientswiththeindividualsupporttheyrequire.
AskilledTrustOfficerisassignedtoeachofourindividualclientstomanagetheirfinancialaffairs.Thisincludesdevelopingabudgettosupporttheperson’slifestyle,whileensuringweconsidertheirneedsbothnowandintothefuture.
Wehelpeachclientaccordingtotheassistancetheyrequiresuchasmanagingfinancialaffairsandpayingsomeoralloftheirbillsincluding:
• Accommodation
• Livingexpenses
• Insurance
• Medicalandpharmaceuticalexpenses
• Propertycostssuchasratesandinsurance.
Disability service 2005-06 2006-07 2007-08 2008-9 2009-10
Newclients 760 866 849 1,023 924
Currentclients 6,277 6,535 6,784 7,142 7,403
Valueofassetsundermanagement
$709,391,426 $808,579,023 $820,713,694 $822,422,039 $862,496,665
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SustainabilityOur energy savings
Oursavingsperannumhavebeencalculatedat:
• 1,919,267kwhsavinginpowerused
• $143,000savingonenergyrelatedexpenses
• 624CO2-ereductioningreenhouseemissionswhichisequivalent toplanting782treeseachand everyyear.
Water
Wecompletedwatersavinginitiativesin444QueenStreet.Wehavealsoimplementedwatersavingdevicesinanumberofourregionaloffices.Thishasincludedinstalling:
• Waterflowrestrictiondevices
• Dualflushtoilets,waterlessandwaterreducingurinals
• Watersavingtapandshower-rosefittings.
Thisyearwereducedourcarbonfootprint,ouruseofresourcesandensuredwesupportedtheGovernment’sToward Q2 – Greenpriority.Weachievedthe followingsavings.
Energy
Wecontinuedtointroducemeasurestoreducetheenergyconsumptionandgreenhouseemissions.
Weimplementedmeasurestoraiseour444QueenStreetbuilding’sAustralianBuildingGreenhouseRatingfrom1.5to4.0by:
• Installingabuildingmanagementsystem
• Replacingtheliftdrivesystemwithamoreefficientalternative
• Modernisingair-conditioningcontrolstoobtainenergyefficiency
• Installinglightingcontrolstoreducepowerusage
• Installingenergyefficientfluorescentdown-lightsinallfoyers.
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Making energy savings
Energy Savings at Cairns Regional Office
Weinstalledenergyefficientair-conditioning,dualtintingonwindowsandexternallouversatourCairnsBuilding.Thishasresultedina40%reductioninelectricitycostsandasignificantreductioninourcarbonfootprint.
Southport Regional Office reducing power costs
WeinstallednewwindowgrillsandanewroofcoatingonourSouthportbuilding.Thesemeasureswilllowertheinternalrooftemperatureby10degreesandtheair-conditioningplantwillrunmoreefficientlyanduselesspower.
Vehicles
TosupportQueenslandGovernmentinitiativesinvehicleemissionsreduction,weleasedmotorvehiclesfromQFleetthathaveaminimumGVGGreenhouseratingof5.5.
Waste management
Thisyearwemaintainedourexisting wastereductionpolicy.Measuresweundertookincluded:
• Reducingpaperwaste
• Usingtheinternetforauctioncatalogues
• Weeklypaperandcardboardrecycling
• Installationofduplexprinters
• UsingPlanetArctodisposeofusedtonercartridges.
Our waste management savings
Approximately40%incleanpaperrequirementsweresavedthroughoutthefinancialyear.
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AboriginalandTorresStraitIslanderpeopleThisfirstroundofgrantssawthedistributionofover$550,000inscholarshipstoassistanumberofAboriginalandTorresStraitIslanderyoungpeopletocompletetheirseniorschooling.
Inachallengingeconomicclimate,ThePublicTrusteeofQueenslandsafeguardedtheperpetualcapitalofboththeGulfAreaCommunitySocialDevelopmentTrustandQueenslandAboriginalandTorresStraitIslanderFoundationtoensurethatthesefundswillgrowandbenefitfuturegenerationsofAboriginalandTorresStraitIslanderPeople.
The2010-11financialyear,willseeusdevelopandimplementwaystoimprovetheaccessibilityofourservicestoAboriginalandTorresStraitIslanderpeople.WearecurrentlydevelopingprojectstoengageanIndigenousLiaisonOfficerandensurethatourfutureinformationbrochuresareaccessibletoAboriginalandTorresStraitIslanderpeople.
InlinewiththeQueensland Government Reconciliation Action Plan 2009-12, thisfinancialyearwecommencedanevaluationoftheservicesweprovidetoAboriginalandTorresStraitIslanderpeople.
In2009-10,ThePublicTrusteeofQueenslandprovidedTrusteeservicestotheGulfAreaCommunitySocialDevelopmentTrust.WeassistedtheTrusttomakegrantstotallingmorethan$300,000tosupportIndigenouscommunitydevelopmentprogramsandorganisationsinMornington,Burketown,Doomadgee,Cununa,NormantonandMountIsa.
ThisyearalsosawtheinauguralgrantroundoftheQueenslandAboriginalandTorresStraitIslanderFoundation,forwhichthePublicTrusteeofQueenslandprovidesTrusteeservices.
distributingover$550,000inscholarshipstoassistanumberofAboriginalandTorresStraitIslanderyoungpeople
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OurCommunityServiceObligationsTheobjectivesofourWillandEnduringPowerofAttorneyservicesareto:
• AssistQueenslandersbymakingtheirWillandEnduringPowerofAttorney.
• Whererequested,providemembersofthecommunitywiththeassurancethatthePublicTrusteeofQueenslandwillactastheirAttorney.
• Ensureanorderlysuccessionofpropertybetweengenerations,withminimumrecoursetotheCourtsystem.
• Facilitateindividualmembersofthecommunitytobeabletospecifywhowillmanagetheirassets,ratherthanthroughanordermadebytheQueenslandCivilandAdministrativeTribunal.
• MeetarequirementbyGovernmenttoensurethecorrectmanagementoftheassetsofmembersofthecommunitywithaminimumrecoursetoQueenslandCivilandAdministrativeTribunalortheCourts.
ThePublicTrusteeisaselffundingorganisationthatreceivesnofinancialassistancefromtheQueenslandGovernment.
Thisyearweprovidedover$22.1MinCommunityServiceObligationsatnocost totheQueenslandCommunity.
Giving all Queenslanders access
to a free Will making service
WeprovideafreeWillmakingservicetoallQueenslandersover18.ThecostofourfreeWillmakingservicefor2009-10was$3.6M.
Supporting an increase in
Enduring Powers of Attorney
EnduringPowersofAttorneyaremadefreeofchargewhenThePublicTrusteeofQueenslandisappointedasPrincipalAttorney.IfanEnduringPowerofAttorneyisdraftedappointinganotherparty,acompetitivecommercialchargeismade forthiswork.
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Supporting The Office of
The Adult Guardian
TheOfficeofTheAdultGuardianprotectstherightsofadultswithimpairedcapacity.UnderthePublic Trustee Act 1978,wecontributefundingapprovedbytheAttorney-GeneraltoassisttheOfficeoftheAdultGuardiantoundertakeitsactivities.Wecontributed$969,000in2009-10.
Managing the commercially
uneconomical affairs of adults
with impaired capacity
WhenweareappointedasAdministratorundertheGuardianship and Administration Act 2000,ThePublicTrusteeofQueenslandbecomesthefinancialdecision-makerfortheseclientswithimpairedcapacity.
Forsomeoftheseclientsthecostsoftheiradministrationandlegalservicesexceedstheirabilitytopay.
Ourmanagementoftheseclients’affairsmayextendtotheirfinancialaffairs,facilitatingmeetingsandwhereappropriateinformationsharingwithfamily,careprovidersandgovernmentandnon-governmentagencies.
Thecostofprovidingtheseservicesfor2009-10wasover$15M.
Civil Law Legal Aid Scheme
WepartnerwithLegalAidQueenslandtoprovidetheCivilLawLegalAidScheme.ThisschemeassistsQueenslanderswithlimitedfinancialmeanstopursuecivillawactionsintheCourts.Wemadegrantsofalmost$898,000tosupportthisvitalschemethisfinancialyear.
Free advice to the community
Lastyearweprovidedfreeadvicetothecommunity,courtsandtribunalsinareas inwhichwehaveexpertiseincluding:
• Adultswithimpairedcapacity
• DeceasedEstates
• AttorneysandEnduringPowers ofAttorney
• TrustAdministration.
Costtoprovidethisadviceforthe2009-10financialyearwasalmost$1.8M.
Supporting the administration
of commercially uneconomical
Deceased Estates
AspartofourcommunityserviceobligationswereduceourfeesandchargesforcertainEstatesthataredeemedtobecommerciallyuneconomicaltoadminister.Also,insomecaseswherethebeneficiarieshavelimitedfinancialmeanstheGovernmenthasapprovedthatsomecostsinvolvedintheEstatemayberebated.Thecostofadministeringtheseestatesinthe2009-10financialyearwasover$61,000.
Prisoners
UnderSection7ofthePublic Trustee Act 1978,wemanagetheestatesofprisonerswhoareconvictedofanindictableoffenceandwhoareservingsentencesofthreeyearsormore.
TheseprisonersarerequiredtoobtaintheconsentofThePublicTrusteeofQueenslandpriortodefendingorinstitutingcivilproceedings.Thecostofprovidingthisservicein2009-10wasalmost$62,000.
21
Ourfinancialhighlights
IncomeandinfurtherdetailinthenotestotheFinancialStatements.AdditionalinformationastotheCommunityServiceObligationservicesprovidedissetoutlaterinthisreport.
Totalincomegrewfrom$66.9Minthe yearended30June2009to$79.6Min theyearended30June2010.Expenses fellfrom$76.5Mto$70.2Minthecomparativeperiods.
90
80
70
60
50
40
30
20
10
0 2006 2007 2008 2009 2010
Revenue Expenses
$m Revenue & Expenses
InlinewiththeFinancial Accountability Act 2009,ourChiefFinancialOfficerhasfulfilledtheminimumresponsibilityrequiredbytheAct.TheChiefFinancialOfficerhasprovidedThePublicTrusteeofQueenslandwithastatementaboutfinancialcontrolsinaccordancewithSection 57 of the Financial and Performance Management Standard 2009.
Statement of comprehensive income
ThePublicTrusteereturnedanoperatingsurplusof$9.4MafterprovidingCommunityServiceObligations,atnocosttoGovernment,totaling$22.1M.Theincreaseinoperatingsurpluswasprimarilyduetomarketrevaluationoffinancialassetsof$8.2M.Theincreaseinmarketrevaluationoffinancialassetsrepresentsabookgainandisnotarealisedcashflow.Therevaluationoffinancialassetsrepresentsasignificantturnaroundfromtheprioryear,whereabooklossof$6.8Mwasbroughttoaccountin2008-09.Generally,investmentsintheportfolioareheldtomaturitywhichhastheeffectofreversingthebooklosses.
ThecontributionbyThePublicTrusteetoGovernmentthroughourCommunityServiceObligationsisshownintherevenuelineitemsoftheStatementofComprehensive
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Statement of financial position
Assetsdecreasedfrom$538.9Mintheyearended30June2009to$527.3Mintheyearended30June2010.Liabilitiesdecreasedfrom$390.7Mto$370.2Minthecomparativeperiods.
ThedecreaseintheassetsandliabilitieswasmainlyduetoclientfundsbeingplacedinThePublicTrustOfficeInvestmentFunds.
Thevaluesshownforassetsincludetheoperatingprofitfortheyear,theindexedrevaluationofalllandandthemarketrevaluationofotherfinancialassetsthatareheldavailable-for-saleconsistentwithaccountingstandards.
500
400
300
200
100
0 2006 2007 2008 2009 2010
Assets Liabilities
$mAssets & Liabilities
Statement of changes in equity
Intheyearended30June2010,theequityofThePublicTrusteeincreasedfrom$148.2Mto$157.1M.Thisincreaseincludedtheoperatingprofitfortheyearandthemarketrevaluationofotherfinancialassetsthatareheldavailable-for-sale,consistentwithaccountingstandards.
160
150
140
130
120
110
100 2006 2007 2008 2009 2010
$mEquity
*Market revaluation of financial assets of 8.2M, refer to page 21.
23
Budget vs Actual
Statement of Comprehensive Income for the year ended 30 June 2010 Actual2010 Actual
$0002010 Budget
$000Variance
$000Variance
%
Income
Revenue
Feesandcharges 67,787 58,837 8,950 15%
Lesscommunityserviceobligations
(22,185) (21,212) (973) 5%
Interest 22,454 17,883 4,571 26%
DistributionRevenue 1,796 5,827 (4,031) (69%)
Otherrevenue 1,253 1,286 (32) (3%)
71,105 62,620 8,485 14%
Gains/(Losses)
(Loss)onsaleofproperty,plantandequipment
- - - -
Gain/(Loss)onrevaluationofotherfinancialassetsheldatfairvalue
5,485 - 5,485 100%
Gainonsaleofavailableforsalefinancialassets
282 - 282 100%
Gain/(Loss)onrevaluationofunitbasedcashfund
2,746 - 2,746 100%
8,512 - 8,512 100%
Total Income 79,618 62,620 16,998 27%
Expenses
Employeeexpenses 37,521 37,552 31 0%
Suppliesandservices 19,340 17,409 (1,931) (11%)
Depreciation 1,622 1,516 (105) (7%)
Amortisation 129 192 63 33%
InterestpaidtoClients 8,516 7,560 (956) (13%)
Otherexpenses 3,087 879 (2,209) (251%)
Total Expenses 70,215 65,108 (5,107) (8%)
Operating Surplus/(Deficit) 9,403 (2,488) 11,891 *478%
Other Comprehensive Income
Increase/(decrease)inassetrevaluationsurplus
(2,802) - (2,802) 100%
Netgain/(loss)onavailable-for-salefinancialassets
2,330 - 2,330 100%
Total Other Comprehensive Income
(473) - (473) 100%
Total Comprehensive Income 8,930 (2,488) 11,418 459%
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Client fees and charges
ThescaleoffeesusedbyThePublicTrusteeisdesignedtoreflectafairchargefortheservicesprovided.TheGovernmenthasapprovedthattheinterestsofdisadvantagedclientsbeprotectedbywayofaschemeofCommunityServiceObligationsubsidiesforthesefees.Thesubsidiesareappliedbywayofdirectrebatesatthetimeofchargingthefees,placingnoobligationuponclientstopayandseekreimbursement.Thedirectrebatesincreasedto$15M,themajorpartofthe$22.1MofCommunityServiceObligationservicesprovidedbyThePublicTrusteeduringtheyearended30June2010.
TheamountoftheCommunityServiceObligationrebatescontinuestoincreaseeachyear,risingby7.1%intheyearended30June2010.Thisisinlinewiththeincreaseinadultswithimpairedcapacity,whocomprisethehighestproportionofclientsreceivingCommunityServiceObligationfundedservices.
Aprioritycontinuestobethecloseandcarefulmanagementoftheservicesprovidedtoourclientstoensurefinancialviability.GrossFeesandChargesIncome,beforeCommunityServiceObligationrebates,intheyearended30June2010was$67.8Manincreaseof3.7%overthepreviousyearended30June2009.
TheamountoftheCommunityServiceObligationrebatescontinuestoincreaseeachyear
OurCorporateGovernance
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Parliament
Attorney General
The Public Trustee of Queensland
Executive Management Group
QLD Audit QAO
Crime & Misconduct Commission
Queensland Ombudsman
Audit Committee & Risk Management
ProgramsCommittees
Public Trust Office Investment Board
OurcorporategovernanceframeworkThePublicTrusteehasacorporategovernanceframeworkthatassistsustomeetthepurpose,valuesandobjectivessetoutinourStrategic Plan 2009-2013.Theframeworkensuresweareaccountableforourdecisionsandassistsustoachieveourvision– To be Queensland’s best provider of trustee and administration services.
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Audit and Evaluation Unit
AnimportantpartofourcorporategovernanceframeworkisourAuditandEvaluationUnit.Theunitprovidesindependent,objective,assuranceandconsultingactivitytoaddvalueandimprovetheoperationofThePublicTrustee.
Duringthe2009-10financialyear,AuditandEvaluationconductedindependentreviewsandauditsoftheoperationofinternalcontrols,businessprocessesandmanagementpracticesconsistentwithourauditcharterandtheAnnualInternalAuditPlanthatwasendorsedbytheAuditandRiskManagementCommittee.
Areviewofthescope,sizeandstructureoftheAuditandEvaluationUnitcommencedduringthefinancialyear.ThispurposeofthereviewwastoensurethatInternalAuditisappropriatelyresourcedtoassistThePublicTrusteeofQueensland,andotherlevelsofmanagementtoachievesoundcontroloverallactivitiesundertheirmanagement,sotheseactivitiescanbecarriedoutefficientlyandeffectively.
AprojectwasalsoconductedtodevelopandimplementaselectionprocessfortheacquisitionofAuditManagementSoftwaretoreplacetheexistingmanualrecordkeepingsystem.ThisresultedintheselectionandpurchaseofasuitablesoftwareprogramtoensuregreatereffectivenessandefficiencyoftheUnit.
External scrutiny
In2009-10,theOfficewasoneofseveralentitiesreviewedbytheQueenslandAuditOffice(QAO)inrelationtoAuditCommitteeGuidanceandFinancialAccountabilityRolesandITNetworkSecurity.TheresultofthereviewofAuditCommitteeGuidanceandFinancialAccountabilityRoleswasincludedintheAuditor-GeneralofQueenslandReporttoParliamentNo.8for2010,tabledon6July2010.TheresultsofthereviewofITNetworkSecuritywillbetabledbyQAO inmid2011.
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Ourorganisationalstructure
Queensland Community
Parliament
Attorney-General and Minister for Industrial Relations
Manager Audit and Evaluation Unit Deputy Public Trustee
The Public Trustee of Queensland
Director Client Services
Deputy Public Trustee of Queensland, Official Solicitor and Director of Legal and Human Resources
Director Investment Services
Director Organisational Support
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Peter Carne
The Public Trustee of Queensland
PeterCarnebringsover30yearslegalexpertisetohisstatutoryappointment asThePublicTrusteeofQueensland. Inadditiontomanaginghisownlegalpractice,PeterhasheldanumberofpublicrolesincludingChiefExecutiveOfficeroftheQueenslandLawSociety,CommissioneroftheQueenslandLegalAidCommissionandDirectoroftheCollegeofLaw(Queensland).
HehasalsoheldanumberofhonourarypositionsincludingPresidentoftheQueenslandLawSociety,ChairoftheQueenslandLawSocietySpecialistAccreditationBoardandDirectoroftheQueenslandLawFoundation.In2003, hewasawardedtheCentenaryMedalfor hiscontributiontothelegalprofession.
PeterhasaBachelorofArtsandaBachelorofLawsfromtheUniversityofQueenslandandisaFellowoftheAustralianInstituteofCompanyDirectorsandtheAustralianInstituteofManagement.From1999until2007hewasaboardmemberofTarongEnergyCorporationandiscurrentlyaboardmemberofAustraliaPost.
PeteriscommittedtoensuringthefuturesustainabilityofThePublicTrusteeandachievingourvision-To be Queensland’s best provider of trustee and administration services.
Patrick Wedge
Deputy Public Trustee of Queensland
PatrickWedgebringsover30yearsoflegalexperiencetohisroleasDeputyPublicTrustee.HeisaSolicitor,anationallyaccreditedMediatorandhasaGraduateDiplomaofPublicAdministrationfromGriffithUniversity.
SincehisadmissionasaSolicitorin1975,PatrickhasusedhislegalknowledgetoservethepeopleofQueenslandthroughhisworkinCrownLawfor26years.In2002,PatrickrelinquishedhisroleasDeputyCrownSolicitorCommercialtobecomeDeputyPublicTrustee.HealsoactedasThePublicTrusteeofQueensland fromJanuary2008untilMarch2009.
AspartofhisrolePatrickisensuringourcompliancewiththeintroductionofQueensland'srighttoinformationandprivacylegislation.PatrickisChairoftheGovernmentLawyersCommitteeoftheQueenslandLawSocietyandheisamemberoftheInstituteofPublicAdministrationAustralia.
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Mark Crofton
A/Deputy Public Trustee of Queensland, Official Solicitor and Director of Legal and Human Resources
MarkCroftonheadsourin-houselegalpracticethatprovideslegalsupporttoThePublicTrusteeofQueenslandandourclients.
MarkhasaBachelorofArts/Laws(Hons)fromtheUniversityofQueensland,aMastersofLawsfromQueenslandUniversityofTechnologyandextensiveexperiencepracticinglawinboththeprivateandpublicsectors.Hehasspentalargepartofhiscareerundertakinglegalworkonbehalfofdisadvantagedclients.
DuringhistimewithThePublicTrustee,MarkhashonedhismanagementskillsandisourDirectorofLegalandHumanResources.Inthiscapacity,MarkiscommittedtodevelopingasustainablefuturefortheOfficeandisactivelyinvolvedinensuringourlegalandhumanresourcecapabilitiesmeetourfuturestrategicobjectives.
Tim Feely
A/Deputy Director Client Services
TimFeelycommencedworkingforThePublicTrusteein1992.WithBachelorofLawsfromMelbourneUniversityandover30yearsexperienceinthepublicandprivatetrustindustrybothinAustraliaandoverseas,heisavaluedmemberofourExecutiveteam.
AsA/Director,ClientServices,Timmanagesateamofover300dedicatedstaffwhodeliverfrontlinePublicTrusteeservicestoQueenslandersfromour16regionalofficeslocatedacrosstheState.
Tim’sworkwithThePublicTrusteehasseenhimundertakeavarietyofroles.HewasinstrumentalinthesuccessfulestablishmentoftheQueenslandCommunityFoundation,thelargestofitstypeinQueensland.ThisFoundationwasusedasthemodelforotherQueenslandFoundationsincludingtheFordeFoundation,LadyBowenTrustandtheQueenslandAboriginalandTorresStraitIslanderFoundation.Allofwhich,Timissignificantlyinvolvedinadministering.
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Ray Bowers
A/Director Organisational Support
RayBowershasover20yearsleadershipexperienceinourorganisation,managingteamsbothinourcorporateofficeandourregionalofficesinGladstoneandRedcliffe.
Hisextensiveexperienceindeliveringfront-line,financialandstrategicmanagementandaBachelorofBusiness,majoringinAccountingfromCentralQueenslandUniversityhasseenhimleadnumerousinitiatives.ThisincludestheimplementationofournewelectronicdocumentationandrecordsmanagementsystemthatisbeingrolledoutacrossQueensland.
AsA/DirectorOrganisationalSupport,Raycurrentlymanagesateamofover80peoplewhoworkacrossspecialistfieldsrangingfrominvestment,finance,property,marketingandcommunicationandinformationservices.HeiscommittedtocontinuouslyimprovingOrganisationalSupport’sdeliveryofhighqualityandefficientservicetoourinternalandexternalclients.
Frank Prostamo
Director of Investment Services
FrankProstamohasover22yearsexperiencemanagingfinanceandinvestments.Forover18yearshehasbeensuccessfullygrowingThePublicTrustee’sassets.Heoverseestheinvestmentmanagementofover$1.17Bfundsthatareheldintrustforover10,000ofourclients.
FrankhasaBachelorofScience(Mathematics),fromtheUniversityofQueensland,aGraduateDiplomainAppliedFinanceandInvestmentfromtheSecuritiesInstituteofAustraliaandaMastersofBusinessAdministrationfromQueenslandUniversityofTechnology.
Currentlymanagingastaffof24people,Frankiscommittedtoensuringthecontinuedgoodperformanceofourassetsundermanagement.HeisTrusteeoftheCommitteeofEconomicDevelopmentAustralia,FellowoftheFinancialServicesInstituteofAustralasia,CouncillorofQueensland’sInstituteofPublicAdministrationofAustraliaandlecturesforaMastersCourseofferedbyKaplanProfessional.
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Andrew Grima
Chief Finance Officer
AndrewGrimaisourChiefFinanceOfficer,hebringsawealthofexperiencetothePublicTrusteeincluding17yearsexperiencewiththeQueenslandAuditOfficewhereheservedforovertwelvemonthsasAuditManager.
AndrewisaCertifiedPracticingAccountantwithaGraduateCertificateinManagementandaBachelorofBusinessinAccountancyfromQueenslandUniversityofTechnology.
Hecurrentlymanagesateamof21staffwhoareresponsibleforthedaytodaymaintenanceofcorporateaccounts,businessintelligence,monthlyfinancialreportingandtaxation.Thisincludespreparingover3,000taxreturnsforourclientseachfinancialyear.
Caroline Hannigan
Manager Audit and Evaluation Unit
CarolineHanniganisManageroftheAuditandEvaluationUnit,performingavitalmonitoringandreviewroleforourorganisation.SheprovidesasecretariatroleforourAuditandRiskManagementCommitteemadeupofinternalandexternalmembers.
Avaluedmemberofourexecutiveteam,CarolinehasaBachelorofCommercefromtheUniversityofQueenslandandaGraduateCertificateofPublicSectorManagement.SheisaCertifiedPracticingAccountantandisamemberoftheInstituteofInternalAuditorsofAustralia.
Carolinebringsover10yearsexperienceinfinancialmanagementandinternalandexternalaudit.Inherrole,shehasassistedinimplementingmanyimprovementstopoliciesandprocedures,ensuringwehavethebestpossibleinternalcontrolenvironment.Sheiscommittedtocontinuousimprovementwithinourorganisation.
33
Ourboardsandcommittees withexternalmembers
Public Trust Office
Investment Board
ThePublicTrustOfficeInvestmentBoardisresponsibleforcontrollingandmanagingtheinvestmentsoftheCommonFund,inlinewithSection21(1)ofthePublic Trustee Act 1978.TheBoardprovidesThePublicTrusteeofQueenslandwithadviceinrelationtotheinvestmentmanagementofThePublicTrusteeInvestmentFunds.
Duringtheyear,withtheapprovaloftheInvestmentBoard,weimplementedarevisedinvestmentstrategyforourCommonFund.Thisprovidedenhancementstothemanagementofinterestrateriskandmorestableincomepayments.
MembersofourInvestmentBoardare:
• ThePublicTrusteeofQueensland(Chair)
• MrWalterIvessa,AssistantUnderTreasurer,QueenslandTreasury
• MrHenrySmerdon,ConsultantandformerUnderTreasurer
• MsHelenDavis,ChiefStrategyOfficer,QSuper
DuringtheyearMsMollyRobsonresignedfromtheBoardandMsHelenDaviswasappointed.ThePublicTrusteethanksMsRobsonforhercontributiontotheBoardandwelcomesMsHelenDavistotherole.
Theboardmetsixtimesduring2009-10.
Audit and Risk Management
Committee
TheAuditandRiskManagementCommitteewasnewlycreatedon1January2010andwasformedfromanamalgamationbetweenourformerAuditCommitteeandtheRiskManagementCommittee.ThegroupmeetsquarterlytoactasanindependentadvisorybodytoThePublicTrusteeofQueensland,toassisthimtofulfilhisresponsibilitiesastheAccountableOfficerundertheFinancial Accountability Act 2009.
ThecommitteeoperatesundernewtermsofreferenceestablishedaccordingtoQueenslandTreasury’sbestpracticeguidelines.Todatethecommitteehasassistedwithreviewingtheriskmanagementframeworkandthescope,structureandsizeofAuditandEvaluationUnit.
Thevotingmembersofthecommitteeare:
• StephenMaitland,OAMastheExternalChair
• LenScalanasanexternalrepresentative
• DeputyPublicTrustee
Standinginviteesare:
• ThePublicTrusteeofQueensland
• ChiefFinanceOfficer
• Manager,AuditandEvaluationUnit
• ArepresentativefromtheQueenslandAuditOffice
Thecommitteemetfourtimesduring2009-10.
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Internalcommitteesandworkinggroups
Membersofthegroupwere:
• ThePublicTrusteeofQueensland(Chair)
• DeputyPublicTrustee
• DirectorLegal&HumanResourceServicesandOfficialSolicitor
• DirectorOrganisationalSupport
• DirectorInvestmentServices
• DirectorClientServices
• DeputyDirectorClientServices
• AssistantDirectorClientServices
• ChiefFinanceOfficer
• ChiefInformationOfficer
• ManagerHumanResources
• ManagerAuditandEvaluation.
TheExecutiveManagementGroupmet 48timesduring2009-2010.
Executive Management Group
OurExecutiveManagementGroup’sroleistoprovideadviceandassistancetoThePublicTrusteeofQueenslandintheleadershipoftheOffice.Includingprovidingadvicetoensurewe:
• Develop,implementandreviewtheStrategic Plan 2009-2013
• Developandtrainouremployees
• Developshort-termstrategiesthatassistinachievingourlong-termgoals
• Reportonprogressandachievementstotherestoftheorganisation
• RemainrelevantandmakesadifferenceinthelivesofQueenslanders
• Buildonouridentity.
MembershipoftheExecutiveManagementGroupisdeterminedbyThePublicTrusteeofQueensland.
Members of the Executive Management Group.
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Strategic Governance Group
OurStrategicGovernanceGroupsupportsThePublicTrusteeofQueenslandtoprovidethestrategicdirectionforourorganisation,aspartofouroverallcorporategovernanceframework.Itisalsoresponsibleforoverseeingorganisationalperformanceandplaysacriticalroleinassistingtoprovidepositiveandeffectiveleadershipanddirection.
TheroleoftheStrategicGovernanceGroupistooversee:
• Corporatestrategyinvolvingstrategicplanning,settingstrategicdirectionandanalysisofstrategictrendsandissues.
• Organisationalperformanceinvolvingthemonitoringofoutputperformance,servicedeliveryimprovementandbudgetperformance.
MembersoftheStrategicGovernance Groupwere:
• ThePublicTrusteeofQueensland(Chair)
• DeputyPublicTrustee
• DirectorLegal&HumanResourceServicesandOfficialSolicitor
• DirectorOrganisationalSupport
• DirectorInvestmentServices
• DirectorClientServices
• DeputyDirectorClientServices
• AssistantDirectorClientServices
• ChiefFinanceOfficer
• ChiefInformationOfficer
• ManagerHumanResources
• ManagerAuditandEvaluation
• SpecialCounsel.
Thecommitteemettentimesduring 2009-2010.
Agency Consultative Committee
AsrequiredbytheStateGovernmentDepartmentsCertifiedAgreement2006,ThePublicTrusteehasanAgencyConsultativeCommittee(ACC).
Membersofthecommitteewere:
• DirectorClientServices(Chair)
• RepresentativesfromtheExecutiveManagementGroup
• RepresentativesfromtheQueenslandPublicSectorUnion(QPSU).
Thecommitteemetseventimesduring2009-10.
Information Steering Committee
OurInformationSteeringCommitteereviewsstrategicandoperationalinformationtechnologyplans,aswellassecurityandpolicypracticesforapprovalbyThePublicTrusteeofQueensland.
Membersofthecommitteewere:
• DirectorOrganisationalSupport(Chair)
• DirectorClientServices
• DirectorInvestmentServices
• DirectorLegal&HumanResourceServicesandOfficialSolicitor
• SpecialCounsel
• ChiefInformationOfficer
• DeputyDirectorClientServices
• ChiefFinanceOfficer
• DeputyDirectorInvestmentServices
• ManagerITServices
• ManagerAuditandEvaluation
• ManagerHumanResources
• RepresentativefromQueenslandTransport
• RepresentativefromtheDepartmentofJusticeandAttorney-General.
Thecommitteemetseventimesduring2009-2010.
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Human Resource Committee
TheHumanResourceCommitteeevaluates,prioritisesandassiststheexecutionofhumanresourceprocedures,policies,practicesandstrategies.
Membersofthecommitteewere:
• DirectorLegalandHumanResourceServices(Chair)
• DeputyPublicTrustee
• DirectorClientServices
• DirectorInvestments
• DirectorOrganisationalSupport
• DeputyDirectorClientServices
• ManagerHumanResources
• ManagerTrainingandDevelopment
• HumanResourceTeamLeader
• SeniorHumanResourcesOfficer.
TheCommitteemetninetimesduring2009-10.
Training Committee
TheTrainingCommitteestrategicallydeterminesthetrainingrequirementsofourstaff.Italsoprovidesaforumwheremanagementisinformedonthemonitoringandeffectivenessofourtrainingprograms.
Membersofthecommitteewere:
• DirectorClientServices(Chair)
• DirectorOrganisationalSupport
• DirectorLegalandHumanResourceServicesandOfficialSolicitor
• DirectorInvestmentServices
• DeputyDirectorInvestmentServices
• DeputyDirectorClientServices
• ManagerHumanResources
• ChiefInformationOfficer
• PrincipalHumanResourceOfficer(Learning&Development)
• ClientServicesManagers(TrainingandCompliance)
• ManagerTraining&Development(commencedattendanceOctober2009)
• Rollingcommitteeof10self-nominatedstafffromacrosssectionofclassificationlevelsandprograms
Thecommitteemetsixtimesduring 2009-10.
Public Affairs Committee
ThePublicAffairsCommitteeprovidesadvicetotheOfficeonclientrelations,internalandexternalcommunications,marketingandmediaissues.Thiscommitteehasceasedtofunctionasof30June2010.Thiscommitteewillbereplacedin2010-11withtheformationoftheMarketingandCommunicationCommittee.
Membersofthecommitteewere:
• ThePublicTrusteeofQueensland
• DeputyPublicTrustee
• DirectorLegalandHumanResourceServicesandOfficialSolicitor
• DirectorOrganisationalSupport(Chair)
• DirectorInvestments
• DirectorClientServices
• AssistantDirectorClientServices
• DeputyDirectorClientServices
• ManagerPublicAffairsUnit
Thecommitteemetfivetimesduring 2009-10.
ClientServices
Townsville, Queensland. Courtesy of Tourism Queensland. Townsville, Queensland. Courtesy of Tourism Queensland.
38
ClientServices
andEnduringPowerofAttorneyandtheimportanceofupdatingthesedocumentsduringkeylife-stages,suchasmarriage,birthofachild,deathofaspouseanddivorce.
Inthe2009-10financialyear,over15,271clientsappointedThePublicTrusteeofQueenslandastheirExecutorandweexperiencedanincreaseinthenumberofDeceasedEstatesunderAdministration.
OurClientServicesProgrammanagesthefinancialaffairsofadultswithimpairedcapacity,forwhomThePublicTrusteeofQueenslandhasbeenappointedAdministrator.OurappointmentasAdministratorisaseriousresponsibilitythatinvolvesprotectingandservingsomeoftheQueenslandcommunity’smostvulnerablepeople.
Werecognisethatmanyoftheseclientshavelimitedmeansandthatwehaveacommunityserviceobligationtoassistthesepeople.Werebateasubstantialproportionoffeesthatwemightotherwisechargetomanagetheiraffairs.Itisanticipatedtheseappointmentswillcontinuetoincreasein2010-11.
ClientServicesistheoperationalfrontlinethatdeliversourcoreservicestoQueensland.Thisincludes:
• AdministrationofDeceasedEstates
• DisabilityServices-actingasFinancialAdministratorforadultswithimpairedcapacity
• PreparingWillsandEnduringPowersofAttorney
• ActingasfinancialAttorneyunderanEnduringPowerofAttorney
• ActingasTrustee
• Trusteeservicesforphilanthropicfoundations.
Duringtheyear,ourClientServicesteammadealmost24,000freeWillsanddraftedalmost3,600EnduringPowersofAttorney.
Throughouttheyear,stafffromourregionalofficesdeliveredanextensiveprogramofcommunityengagement,informationandeducationsessions.ThesesessionsinformedtheQueenslandcommunityabouttheimportanceofhavingavalidWill
Image by Ray Cash Photography.
39
Wearealsoresponsiblefor:
• AdministrationoftheUnclaimedMoneysFund
• ActingasTrusteeforUnincorporatedAssociations
• VictimsofCrimeCompensationTrusts
• TheFinancialAdministrationforprisonersservingthreeyearsormoreincustody
• ActingasTrusteeforthreecaravanparks.
Delivering our services
to more Queenslanders
Toenableustobetterrespondtoourclients’needsandexpectations,amajorfocusthisyearwastoincreasethereachofourservicesbothinBrisbaneandinregionalareasofQueensland.
OurprimaryoperationsweredeliveredbyregionalofficessituatedinthemajorpopulationcentresofQueensland.
Wealsoundertookvisitstothesickandelderlyathome,innursingfacilitiesandhospitals.Ourserviceprovisionwascomplimentedbyoff-sitevisitationservicesto38othercentresacrosstheState.TheseservicesweredeliveredwiththecooperationoflocalCourthouses,CentrelinkOffices andQueenslandGovernmentAgency ProjectOffices.
Duringthe2009-10financialyearweundertookextensiveplanninganddevelopmenttoprepareforanewregionalofficeontheSunshineCoastandincreasedourWillmakingandEnduringPowerofAttorneyservicestotheClevelandarea.
OurdedicatedClientServicesstaffwereactiveinsupportingourStrategic Plan 2009-2013.Aspartofourundertakingtoimplementbetterservicestoourclients,eachregionalofficecompletedtheirownoperationalplansduringtheyear.Thisensureswearebetterabletomeettheevolvingneedsofourclients.
Our Free Will making service
• OurteamprovidedafreeWillmakingservicetoalmost24,000Queenslandersduringthe2009-10financialyear.
Wills 2006-07 2007-08 2008-09 2009-10
NewClients 11,038 11,278 10,736 12,468
ExistingClients 10,399 9,882 10,143 11,464
TotalWillsmade 21,437 21,160 20,879 23,932
NumberappointingThePublicTrusteeofQueenslandasExecutor
11,261 11,447 10,350 15,271
Image by Ray Cash Photography.
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Deceased Estates
WeadministerthehighestnumberofDeceasedEstatesinQueensland.WeAdministeraDeceasedEstatewhen:
• ThereisaWillappointingThePublicTrusteeofQueenslandasExecutor
• TheExecutorrenouncestheirappointmentandnextofkin,orthebeneficiaries,requestThePublicTrusteeofQueenslandactasExecutorontheirbehalf
• TheExecutorhasdied,isunabletoactorisabsentfromQueensland
• ThereisnoWillandThePublicTrusteeofQueenslandisrequestedbythenextofkintoadministertheEstate
• ThePublicTrusteeofQueenslandisappointedbytheSupremeCourt.
Inresponsetoclientdemand,aprivateprobateandexecutorialservicewasalsoprovided.WithagrowingnumberofExecutorsrequestingtoobtainprobateontheirbehalfforthe2009-10financialyear.
Deceased Estate Administration 2005-06 2006-07 2007-08 2008-09 2009-10
NewDeceasedEstatesreceived
2336 2293 2398 2,394 2,449
NumberofEstates onhand
2132 2057 2179 2,385 2,532
ValueofthoseEstatesonhand
$308,210,048 $327,395,765 $383,533,797 $432,874,447 $457,378,445
%completedwithin9months
64.35% 64.12% 64.35% 66.41% 63.73%
%completedwithin12months
73.82% 74.76% 74.99% 78.20% 75.14%
NewTestamentaryTrustsreceived
159 168 101 116 143
NumberofTestamentary Trustsonhand
919 975 989 968 1,018
ValueofTestamentary Trustsonhand
$140,655,223 $158,277,434 $161,561,324 $165,031,809 $177,323,906
Proceeds of crime
TheCriminal Proceeds Confiscation Act 2002 providesthatThePublicTrusteeofQueenslandmaybeaskedtotakecontrolofpropertypossiblyrelatedtoillegalactivity.
Thisfinancialyearwereceivedpropertyrelatedto43matters.Propertyheldincludedcash,jewellery,property,vehiclesandmotorbikes.
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Trusts
Duringthe2009-10financialyearweactedasTrusteeforavarietyofTrusts.
Trust Management 2005-06 2006-07 2007-08 2008-09 2009-10
NumberofnewMinorsTrusts 740 619 518 552 572
NumberofMinorsTrustsonhand 4,801 4,491 4,269 4493 3,671
Valueofassetsundermanagement $139,573,714 $151,781,278 $135,011,225 $163,166,837 $166,624,191
Numberofsundrynewmatters 106 207 364 288 169
Numberofsundrymattersonhand 710 753 923 1,155 1,136
Valueofsundrytrustsassetsundermanagement
$105,970,204 $136,916,265 $131,614,163 $163,166,837 $166,624,191
Enduring Powers of Attorney
WepreparedEnduringPowersofAttorneyforalmost3,600Queenslanders.
Enduring Powers of Attorney 2005-06 2006-07 2007-08 2008-9 2009-10
Numbersprepared forclients
3,483 3,239 3,429 3,323 3,559
ThePublicTrustee asfirstAttorney
568 417 437 419 565
ThePublicTrusteeassubstituteAttorney
262 217 231 214 317
Numberofnew agencyclients
192 140 147 137 120
Numberofagencyclientsmatters onhand
1,080 1,013 973 874 828
Valueofagencyclientsassetsundermanagement
$133,624,180 $147,251,969 $141,977,394 $133,408,471 $145,766,678
OurRegional Offices
Cairns, Queensland. Courtesy of Tourism Queensland.
Gladstone, Queensland. Courtesy of Tourism Queensland.
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OurregionalofficesOurregionalofficesarethebackboneofourorganisation.TheydeliverthemajorityofservicestoourclientsacrosstheState.OurstaffalsomakeregularvisitstodraftWillsandEnduringPowersofAttorneyincommunitieswithoutanOffice.
Ourregionalofficesunderstandtheirlocalcommunities.Ourstaffworkwithlocalserviceproviders,federalandstategovernmentagencies,non-governmentandnot-for-profitorganisationstoensureourclients’needsaremet.
Toowoomba
OurToowoombaRegionalOfficeislocatedintheheartofToowoomba’scitycentre.Wehave31staff,thatworkhardtoprovidearangeofservicestothelocalcommunity,includingdraftingWillsandmanagingTrustsforhundredsofclientseveryyear.
ThisfinancialyearwecommencedavisitingWillsprogramtoWarwickandmayexpandthisserviceinthecomingyeartoincluderegularvisitstoDalbyandKingaroy.
OurToowoombastaffregularlyattendlocalcommunityforumsandinter-agencymeetingstopromotetheworkofThePublicTrusteeandeducatepeopleontheimportanceofhavingavalidWill.Ahighlightofouroffice’seducationprogramwasattendingFarmFest,thelargestruraleventinQueenslandwithover70,000visitors.Ourstaffprovidedinformationandadvicetothepublicoverthisthreedayevent.
Toowoomba, Queensland. Courtesy of Tourism Queensland.
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Redcliffe
FromourRedcliffeRegionalOfficeandoursatelliteofficeatStrathpine,weprovideafullrangeofTrusteerelatedservicestoRedcliffe,PineRivers,CabooltureandsomepartsoftheSunshineCoast.
OurRedcliffeRegionalOfficeopenedin1984andourStrathpinesatelliteofficeopenedin1998,duetothedemandsofthegrowingregion.Wenowhaveateamof30staffatRedcliffe,andateamofsixatStrathpineservingthelocalcommunity.
Togetherthesetwoofficespreparearound2,500freeWillseachyearandrespondtotheneedsofsomeofthemostdisadvantagedmembersofthelocalcommunity.Thisyear,ourskilledstaffattendedseverallocalexposforSeniorsWeektopromotetheimportanceofWillsandEnduringPowersofAttorneyandtoprovideinformationforarangeofservicesavailabletoQueensland’sseniors.
Mount Isa
OurMountIsaRegionalOfficehasbeenservingthecommunityforalmost30years.WealsoserveremotecommunitiessuchasBoulia,Camooweal,BurketownandCloncurrythroughourco-operationwithQueenslandGovernmentAgencyProjectOfficesandCourthouses.WeareproudthattheservicesprovidedbyourMountIsaOfficearethesameastheservicesprovidedinBrisbane.
Ourteamoffivededicatedstaffhaveaprofessionalandcaringapproachtotheirwork,especiallyinDeceasedEstatesandDisabilityServices,wheremanyofourclientsarefromanIndigenousbackground.
OurMountIsateamworkscloselywithTheQueenslandCivilAdministrationTribunal,TheOfficeoftheAdultGuardian,DisabilityServicesQueensland,QueenslandMentalHealthandothersupportagencies.
Lastyear,weassistedover200clientstomaketheirWillandorEnduringPowerofAttorneyandwevisitedclientsathomeorinhospitaliftheywereunabletoattendtheOfficeinperson.
Redcliffe, Queensland. Courtesy of Tourism Queensland.
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Mackay
OurMackayRegionalOfficehaselevenstaffservingMackayandWhitsundaysregion.Duringthefinancialyearourofficeassistedover980clientstomakeWillsandEnduringPowersofAttorney.
Theteamdeliveredalmost40presentationstoexternalorganisationsaboutourservicesandtheimportanceofhavingaWillandanEnduringPowerofAttorney.WemadevisitstoClermontandMoranbahintheWesternminingareas,CarmillaandSarinaintheSouth;and
Gladstone
OurGladstoneRegionalOfficehasbeenservingthelocalcommunityforapproximately30years.NotonlydoweassistthepeopleofGladstone,thisyearwealsomadevisitstoMontoandBiloela.
Inthepasttwelvemonths,ourofficeunderwentamajorrefurbishmenttoensurebetterdisabilityaccessandabetterenvironmentforourstaffandourclients.
Wehaveateamoffivededicatedstaff,includingourA/RegionalManagerwhohasworkedintheGladstoneOfficeforthepasteighteenyears.Thisfinancialyearwepreparedover400Willsand90EnduringPowersofAttorney.
WewerealsoactiveineducatingthecommunityabouttheimportanceofhavingavalidWillandEnduringPowerofAttorneyandwepresentedatnumerousinformationsessionsthroughoutthearea.
Bowen,CannanvaleandProserpineintheNorthduringthecourseoftheyear.
OurOfficersalsomadebi-annualvisitstoQueenslandGovernmentAgencyProjectOffices,CourthousesandtheLocalMPsofficesinProserpineandSarina.
OurRegionalManagerwaspartoftheorganisingcommitteefortheregionsannualSeniorsExpo,aneventsponsoredbytheQueenslandGovernment’sDepartmentofCommunitiesandtheMackayRegionalCouncil,aspartofSeniorsWeek.
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Eimeo, Queensland. Courtesy of Tourism Queensland.
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Ipswich
OurIpswichRegionalOfficehasbeenservingthecommunityforover30years.Sinceoursmallbeginningwiththreestaff,wehavegrownintoadedicatedandenergeticofficeof33people,whoprovideservicesfromGattontoBrisbane’sSouthWesternsuburbsandallthewaytoBeaudesert.
Thisyearourteamhelpedover1,800disabilityandtrustclients,administeredalmost200DeceasedEstatesandpreparedWillsandEnduringPowersofAttorneyforover1,200peoplefromthelocalregion.
OurstaffarededicatedtogivingbacktothecommunityandhavedevelopedarelationshipwiththeIpswichHospice.
OvermanyyearstheHospicehasbeen thebenefactorofouroffice’s‘freedressday’donations.Thisyear,wealsosponsoredtheHospice’sCarolsbyCandlelightevent.
WeplayanimportantroleservingtheIpswichdisabilitycommunityandwelinkwithothergovernment,nongovernmentorganisationsandadvocacygroupstobetterdeliverourservices.WealsoconductedpubliceducationvisitsacrosstheIpswicharea,tobetterinformpeopleofourservicesandtheimportanceofhavingavalidWill.
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Townsville
OurTownsvilleRegionalOfficehasbeendeliveringservicestoNorthQueenslandsincethe1920s.Wehave25dedicatedstaff,threeofthesehavebeenservingtheregionfor40years–that’sover120yearscombinedexperience.
During2009-10,wemadeover1,200WillsandourOfficerstravelledregularlytoAyr,ChartersTowersandIngham.WealsosuppliedWillandEnduringPowerofAttorneyservicestothepeopleofKirwanfromthelocalCentrelinkOffice.
OurRegionalManagermadeover20presentationstolocalcommunitygroups,topromoteourservicesandeducatethepublicabouttheimportanceofhavingavalidWillandanEnduringPowerofAttorney.
Wearealsocommittedtothecommunity,withourstaffcontributingtothelocalVarietyClub’sMovieSpectacularthatprovidedaboosttochildreninneed.
Bundaberg
OurBundabergRegionalOfficehassixdedicatedstaffservingtheBundabergandBurnettregion.WealsoserveChilders,GinGinandBargara.TheBundabergregionisgrowingbyalmost2,750peopleayearandmanyoftheseareretirees.
ThisgrowthisreflectedinourWillmakingappointmentswhichsteadilyincreasedduringtheyear.OurDeceasedEstateadministrationalsogrewby54%inthe2009-10financialyear.
MuchoftheBundabergOffice’sworkisassistingourdisabilityclientstomanagetheirfinancialaffairs.OftenthesepeopleareplacedunderourcarebytheQueenslandCivilandAdministrativeTribunal.Ourstaffworkhardtoensureweprotectourclients’assetsandmanagetheirfinancialaffairsprudently.
WealsoconductedanumberofcommunityeducationvisitsincludinglocalQSuperseminars,SeniorsForums,Endeavour,Rotaryandtheregionsannualthreedayagriculturalexpo–AgroTrend.
Townsville, Queensland. Courtesy of Tourism Queensland.
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Rockhampton
OurRockhamptonRegionalOfficefirstopeneditsdoorsin1916,theyearThePublicTrusteecommencedoperationsinQueensland.ItwasoneofthreeofficeslocatedacrosstheState.
Thisyear,weregularlytravelledtoYeppoon,EmeraldandCapella.OurservicesextendedtotheNorthernTerritoryborderincludingBlackallandLongreach.
Wehave18staff,sixofthesehavemorethan27yearsserviceeach.Wepreparedover1,000Willsduringtheyear.Wealsoengagedinnumerouscommunityawarenessraisingevents,wherestaffdeliveredpresentationstopromotetheimportanceofhavingavalidWillandEnduringPowerofAttorney.
Maryborough
OurMaryboroughRegionalOfficehasbeenservingthelocalcommunitysince1978.Wehave11staffanddraftedover1,200Willsthisfinancialyear.OurOfficerstraveltoHerveyBaythreetimesaweek,toGympiethreetimesafortnightandtoTinCanBayonceamonth.
Ourteamarefamiliarwiththelocalareaandourlongestservingmemberofthe teamhasbeenworkingattheOfficesince itopened.
WeconductedregularvisitstoorganisationstopromotetheimportanceofhavingavalidWillandEnduringPowerofAttorney.ThisincludedsupportingtheFraserCoastSeniorsExpoinAugustandourlocalagriculturalshowinMay.
Rockhampton, Queensland. Courtesy of Tourism Queensland.
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Cairns
OurCairnsRegionalOfficehasbeenprovidingservicestothepeopleofCairnsandsurroundingdistrictssince1927.WeprovideWillandEnduringPowerofAttorneymakingservicesfromCourthousesandQueenslandGovernmentAgencyProjectOfficesinTully,MareebaandAtherton.
Our22dedicatedstaffareexperiencedindraftingWillsandEnduringPowersofAttorneyandhavealsoprovidedotherTrusteeservicesduringtheyear,includingDeceasedEstateAdministrationandfacilitatingauctions.
TheOfficealsoprovidesregularinformationsessionstothepublicinCairns,Ravenshoe,Innisfail,AthertonTablelands,TullyandBabinda.
TheCairnsteamiscommittedtohelpingthecommunity,withtheOfficeparticipatinginthisyear’sJeans for Genesdayandannuallysponsoringprizesforalocalsurf-lifesavingclubcompetition.
Nambour and Sunshine Coast
During2009-10ourNambourRegionalOfficeofninestaff,servedthe
localcommunityfromCaloundratoLandsborough.Weassistedover250clientswithdisabilitiestomanagetheirfinancialaffairsandadministeredapproximately100deceasedestates.
WepresentedinformationabouttheimportanceofhavingavalidWillandEnduringPowerofAttorneyatmorethan25events.
ThePublicTrusteehasbeenbasedpermanentlyontheSunshineCoastforovernineyears.Withincreasesintheregion’spopulation,workwasundertakenduringtheyeartoplanfortheexpansionofourservices.ThiswillseeanewofficeopeninKawanainAugust2010,whileourNambourRegionalOfficewillstillremainopentothelocalcommunity.
Tropical North Queensland, Queensland. Courtesy of Tourism Queensland.
Mooloolaba, Queensland. Courtesy of Tourism Queensland.
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Southport
OurSouthportRegionalOfficehasateamof34peoplewhoprovidethefullrangeofTrusteeservices.Thisyearwecompletedapproximately2,350Wills,withextraservicesprovidedregularlyattheBeenleighCourthouseandatPalmBeachCentrelink.Wealsoco-operatedwithGoldCoastLegacytoprovideanin-houseservicetotheirmembersthroughouttheyear.
ThereisastrongcharitableculturewithinourOffice.Thisyearourstaffraisedfundsforvariouscharitiesthroughactivitiessuchasfreedressdays.Thisyear,wemadedonationstotheKMartWishingTree,YoungCareandthePaediatricWardoftheGoldCoastHospital.
WedeliverednumerouspresentationstocommunitygroupsandprovidedinformationstallsatanumberofExpos.WeattendedtheAgedCareQueenslandConferenceheldontheGoldCoastasbothadelegateandasanexhibitor.
Brisbane
TheDeceasedEstatesandWillsteamofourBrisbaneOfficeprovideservicesrelatingto:
• Documentpreparation(WillsandEnduringPowersofAttorney)
• AdministrationofDeceasedEstatesManagementofUnclaimedMonies
• ManagementofCancelledIncorporationAssociationmatters
• Managementofproceedsofcrime.
Ourteampreparedover6,600documents,acceptedtheAdministrationof560DeceasedEstatesandprocessedmorethan1,200claimsontheUnclaimedMoniesFund.
Thisyear,weexpandedourdocumentmakingservicebyincreasingourvisits
toarangeofCentrelinkOfficesandCourthouses.Thisprovidedeasieraccessforclients,astheydidnothavetotraveltotheBrisbaneCBDtoreceiveourservices.
TheDisabilityServicesandTrustsRegionwithinourBrisbaneOfficeassistswithmanagingthefinancialaffairsofQueenslanderswithanincapacity.Duringtheyearour35staffservedover1,648clients.
WealsomanageTrustsfor750minors, 159generalTrustFundsand278TestamentaryTrusts.
WedeliverednumerouspresentationstocommunityorganisationstoeducatepeopleaboutourworkandtheimportanceofhavingavalidWillandEnduringPowerofAttorney.
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PhilanthropicTrusts
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PhilanthropicTrusts
Establishedin1997undertheTrusteeshipofThePublicTrusteeofQueensland,theQueenslandCommunityFoundationaimstoprovideapermanentsourceofphilanthropicfundingforcharitableorganisationstoenablethemtorespondtocurrentandemergingcommunityneedsofQueenslanders.
TheQueenslandCommunityFoundationbringstogethercommunity,business,educationandgovernmentleaderstofurtherphilanthropiccausesacrosstheState.ThePublicTrusteeofQueenslandisadvisedbyaBoardofGovernors,madeupofrepresentativesfromthecommunitywithaninterestinphilanthropy.ThepresentChairoftheFoundationisDrJohndeGrootanditsPatronistheHon.MikeAhernAO.
Queensland Community Foundation
ThePublicTrusteeofQueenslandisTrusteeforanumberofleadingQueenslandphilanthropictrusts.During2009-10,theseorganisationsdistributedover$1.24MtoadiverserangeofQueenslandcharities,communityorganisation,schoolsandqualifyingindividuals.
TheTrustsmaintaintheircapitalinperpetuityforfuturegenerationsofQueenslanders.SomeTrusts,suchastheQueenslandCommunityFoundation,continuetogrowtheircapitalbasesduetothegeneroussupportofphilanthropicmindedpeoplewhochoosetoleavealastinglegacytoQueensland.
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InMay1997,theStateofQueenslandsignedtheCenturyZincAgreementwiththeWaanyi,Mingginda,GkuthaamandKakatjNativeTitleGroupsandCenturyZincLimited.
FollowingaSocialImpactAssessmentin2000,theGulfAreaCommunitySocialDevelopmentTrustwasestablishedandplacedunderthemanagementoftheQueenslandCommunityFoundation.ThePublicTrusteeofQueenslandisTrusteeofthisFoundation.
TheGulfAreaCommunitySocialDevelopmentTrustprovidesfundingthatsupportsprojectspromotingcultural,educational,healthandsocialdevelopmentwithintheLowerGulfRegion.During2009-10theTrustprovidedfundingofover$310,000toprojectsdesignedtostrengthencommunitiesbyfundinginitiativesinlinewiththegranttheme“YouthandElders”.
GrantsweremadetoorganisationsinthecommunitiesofMornington,Burketown,Doomadgee,Cununa,NormantonandMountIsaforarangeofprojectssuchas:InformationTechnologyresources,HealthandNutritionprogram,YouthSkillsprogram,EarlyLanguageandLiteracyprogramandFacilityrenovationsandextensions.
TheGulfAreaCommunitySocialDevelopmentTrustisfosteringrelationshipswithregionalcommunitiesandorganisationstoenablefuturefundingallocationstohavemeaningfulandlastingbenefitsfortheLowerGulfRegion.
Gulf Area Community Social Development Trust
SincetheQueenslandCommunityFoundation’sinceptionthefundhasgrownfrom$300,000with12sub-fundsforcharitiesunderitsumbrella,tohavingfundsofalmost$30Minvestedandover150sub-funds.Thisyear,grantsofover$100,000weremadetocommunityorganisationsacrossQueensland.
TheQueenslandCommunityFoundationhasnoadministrationcostsleviedagainstdonationsreceived.ThesecostsaremetthroughthecommittedcorporatesponsorshipofThePublicTrustee,QICLimitedandAngloAmericanMetallurgical.
WA Lee Equity Lecture – 2010
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InAugust2000,theQueenslandGovernmentrespondedtothefindingsoftheCommissionofInquiryintotheAbuseofChildreninQueenslandInstitutions.OneoftheoutcomeswastheestablishmentoftheFordeFoundationnamedaftertheChairoftheInquiry,MsLeneenForde,whoisalsoPatronoftheFoundation.TheFoundationwasdesignedtosupportformerresidentsofQueenslandInstitutions.
Followinganindependentreviewin2009-10,anewphaseisbeginningfortheFoundation.AfterthecompletionofaRedressSchemethatassistedthousandsofpeople,itwasdecidedtore-focustheFoundationsactivitiesintothefuture.
InMay2010,theQueenslandGovernment,ThePublicTrusteeofQueenslandandtheFoundation’sBoardofAdviceannouncedthattheFordeFoundationwilloffertwotypesofgrants.
Thefirsttypeofgrantwillbeprovidedtonot-for-profitorganisationstoworkwithgroupsofformerinstitutionresidents.Grantswillfundinnovativeprogramsandprojectsthatprovidecommunityparticipationopportunitiessuchasreunions,skillsmentoringworkshopsandothersocialandcommunityevents.
Thesecondtypeofgrantwillbeprovidedtoindividualsforspecificpurposes,suchasdentalcare,education,trainingandpersonaldevelopmentopportunities.
Website: www.fordefoundation.org.au
Email:forde@merivale.org.au
The Forde Foundation
Grantswillfundinnovativeprogramsandprojectsthatprovidecommunityparticipationopportunities
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Establishedin2006,theLadyBowenTrustaimstore-engagepeopleexperiencingchronichomelessnesssotheyachievegenuine,positiveandlastingoutcomes.
Sinceitbegan,theLadyBowenTrusthasprovidedover$280,000tocommunityorganisationsthatassisthomelessQueenslanderstotransitiontomorestablehousingarrangements.Bycarefullytargetingitsfinancialsupport,theTrustaimstoprovidehomelesspeoplewithassistance,reliefandpersonalandsocialsupport.
Eachyear,aBoardofAdvicecomprisedofindividualsfromthepublic,communityandbusinesssectorprovidesrecommendationstoThePublicTrusteeofQueenslandabouttheapplicationoffundstomeettheTrust’sobjectives.
Basedontheserecommendations,in2009-10,fundingwasallocatedtosevenorganisationsthatprovidesupportandassistancetopeopleexperiencinghomelessness.Thisincludedallocatingfundingtoflexibleandpracticalprogramsthatcomplimenttheseorganisations’existingservices.
TheTrustalsocontinuedtosupportMissionAustraliawhichmaintainsRomaHouse.Thisfacilitywasestablishedtoenhanceclients’lifeskills,confidenceandresilience,whileassistingthemtofindsecureaccommodation.RomaHouseprovides24-hour,intensivecare,supportandaccommodationforpeoplewhoarechronicallyhomeless.
Duringtheyear,theBoardofAdvicealsoundertookarangeofactivitiestoraisecommunityawarenessofthevariedissuesassociatedwithhomelessness.
Website:www.ladybowentrust.org.au Email:enquiries@ladybowentrust.org.au
Lady Bowen Trust
From right: Her Excellency Ms Penelope Wensley AO, Governor of Queensland, Peter Carne, The Public Trustee of Queensland with grant recipients.
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A perpetual legacy for a positive future
TheQueenslandAboriginalandTorresStraitIslanderFoundationwasestablishedin2008.Thisnot-for-profitfoundationprovidesasecure,independentandperpetualfundingsourcetoadvancetheeducationandlifeopportunitiesofAboriginalandTorresStraitIslanderchildrenandyoungpeopleinQueenslandthroughtheprovisionandpromotionofscholarships.
ABoardofAdvice,comprisingrepresentativesfromAboriginalandTorresStraitIslandercommunities,makesrecommendationstoThePublicTrusteeofQueenslandontheallocationofgrantseachyear.
TheFoundationhasfourobjectives:
• Toapplythefoundation’sincomeforthecharitablepurposesofadvancingtheeducationofAboriginalandTorresStraitIslanderchildrenandyoungpeopleofQueenslandthroughtheprovisionofscholarships.
• Toapplythefoundation’sincometoincreasecommunityawarenessoftheneedtoadvancetheeducationofAboriginalandTorresStraitIslanderchildrenandyoungpeopleinQueensland.
• ToensureengagementbytheAboriginalandTorresStraitIslandercommunitywiththeQueenslandAboriginalandTorresStraitIslanderFoundation.
• Toensurethefoundation’sincomeisperpetualandtoobtainadditionalfinancialsupportfromthecommunityforthedeliveryofitscharitableobjects.
The2009-10inauguralgrantprogram,allocatedscholarshipfundingof$550,000toassistfourteenofAboriginalandTorresStraitIslanderstudentstocompletetheirseniorstudies.
ThisscholarshipfundingwasprovidedtoState,CatholicandIndependentschools,whothendistributedthemoneytobenefitindividualstudents.
TheQueenslandAboriginalandTorresStraitIslanderFoundationBoardisprogressingacommunityengagementprogramacrossQueensland.ThiswillraisecommunityawarenessabouttheFoundationandencouragecommunityinvolvementinfuturefundingallocations.
Queensland Aboriginal and
Torres Strait Islander Foundation
Officeofthe OfficialSolicitor
Brisbane, Queensland. Courtesy of Tourism Queensland.
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The Civil Law Legal Aid Scheme
Asaresult,theschemeallowspeoplewhoarefinanciallydisadvantagedtopursuecivilclaims.Thisisonthebasisthattheywillnothavetofund,duringthecourseoftheaction,theirsolicitororbarristerandthattheoutlaysorexpensesinvolvedintheclaimaremetbythescheme.
Anapplicanttotheschemewouldotherwisefacegreatdifficultyinadvancingtheirclaim(wheretheywouldhavetomeetthecostofexpensivemedicalorexpertreportsforexample).
How does the scheme work and when did it start?
LegalAidQueenslandattendstotheadministrationoftheschemeandThePublicTrusteeprovidesthemoneytofundtheoutlays.
Theschemestartedin1992whenLegalAidQueenslandceasedfundingCivilLawmattersbutitwasidentifiedthatmanyQueenslandersmaynotbeabletopursueCivilclaims,giventhebarrierthatlegalcostsandexpensesrepresent.SincethentheschemehashelpedhundredsofQueenslanders.
Partnering with Legal Aid to help vulnerable Queenslanders
ThePublicTrusteetogetherwithLegalAidQueenslandfundsandoperatestheCivilLawLegalAidScheme.TheschemeassistsQueenslanders,especiallythosewithlimitedmeans,toaccessjustice.
Lastfinancialyearweprovided659 grantsofalmost$900,000tosupport thisvitalscheme.
Applicantsrecoveredatotalof$62Montheseclaimsduringtheyear.Manyofthesepeoplewouldnothavebeenabletopursuetheirclaims,butforthepreparednessofsolicitorstoactona‘NoWinNoFee’basis,barristerstolendtheirsupportandtheschemefundingtheexpensesandcostsinvolvedintheclaims.
What is the Civil Law Legal Aid Scheme?
TheCivilLawLegalAidSchemeprovidesQueenslanderswithfinancialassistancetoenablethemtopursueCivilLawclaims.Thetypesofclaimswhichareassistedbytheschemeinclude:
• Personalinjuriesmatters–includingworkplaceaccidentsandmotorvehicleclaimsforpersonalinjury.
• Publicinterestcaseswhereanissueisofbroadpublicimportanceorthematterdealswithlegalissuespreviouslyuntested.
Theschemefundstheoutlays(expenses)involvedinprosecutingthesetypesoflegalactions.ApplicantsarethesubjectofameanstestappliedbyLegalAidQueensland.
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OfficeoftheOfficialSolicitor
OursecondworkteamundertakesDeceasedEstatesworkandattendstodifficultprobatematters,litigationinrespectofEstates(largelyfamilyprovisionapplications)andotherworkassociatedwiththeadministrationofEstates.
OurthirdworkteamattendstoworkflowingfromThePublicTrustee’sWillspracticeandprovideslegaladviceandservicesinrespectofTrusts.ThisteamalsoprovideslegalservicestoThePublicTrusteeofQueenslandinhisroleasAdministratorforclientswithimpairedincapacity.
Ourfourthworkteamattendstocommercialandpropertyrelatedmatters.Theyundertakelegalworkinrelationtoconveyancingandpropertyrelatedadvice,originatingfromThePublicTrusteeofQueensland’sroleasAdministratorforadultswithimpairedcapacity,aswellasDeceasedEstates.Theyalsoprovidehigh-levellegaladviceandundertakeworkforothergovernmentdepartments.
Our purpose
TheOfficeofTheOfficialSolicitoris ThePublicTrustee’slegalpractice.
Weaimtoprovidehigh-quality,timelyandcostcompetitivelegaladvicetoThePublicTrusteeofQueenslandinallofhisroles.
Wearediversewithspecialitiesinsuccession(DeceasedEstates),actingforpersonsunderalegaldisabilityandprovidingThePublicTrusteewithcorporatelegaladvice.
Our people
Weoperateinasimilarwaytoprivatepractice,butforthevolumeandareasofspecialitiesofourwork.Thesuccessofourpracticeisduetoourhighlymotivated,skilledandknowledgeablestaffof41people.Thisincludes26lawyers,fourParalegalOfficersandelevenadministrativesupportstaffwhooperatefromfourworkteams.
Ourfirstworkteamprovideslegaladviceandlitigationservicesforourclientswithanincapacity.Thisincludesmatterswhereadultswithanincapacity,havehadpropertyormoneymisappropriated–commonlybyfamily,AttorneysorAdministrators.
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Our achievements
ThisyeartheOfficeofTheOfficialSolicitorexcelledinthedeliveryoftimely,accurateandcosteffectivelegaladviceforThePublicTrusteeofQueenslandandourclients.
Ourworkhasgrownsignificantlyinthepastyear,ashasthecomplexityofthiswork.
ThisyearwehadincreasinglitigationinrespectofDeceasedEstates.Therewasalsoanincreaseinlitigationastheresultoffinancialabuseormisappropriationfromadultswithimpairedcapacity.Someofourmostsignificantsuccesseshavebeeninrelationtothiswork.
OurdedicatedstaffhaveensuredtheOfficeofTheOfficialSolicitormetandexceedthechallengespresentedthisfinancialyear.Someofoursuccessesincluded:
Type of work 06 – 07 07- 08 08-09 09-10
FamilyProvisionApplications 101 99 81 148
Sanctions–s.59PublicTrusteeAct1978 290 285 277 252
AdvicesandOtherMatters 990 1,018 1,029 1397
Total number of new matters 1,381 1,402 1,387 1797
Additional Matters:
–RegionalLegalMatters 25 30
–ProbateFiles 913 864
–FreedomofInformationFiles 21 0
Total number of new legal matters 2,346 2,691
• Effectivelysettlingallfamilyprovisionmatterswhichhavecometoaconclusionwithoutrecoursetoatrial.
• Dealingeffectivelywitha34%increaseinthenumbersofmattersreceived.
• IncreasinglydirectingsupporttothecoreserviceareaoftheOfficeincludingprovidingtrainingandinvolvementinthedevelopmentofsystemsandprocessesfortheAdministrationofDeceasedEstatesandtheroleofThePublicTrusteeofQueenslandactingasAdministratorforadultswithimpairedcapacity
• Settlingthefullimplementationofanewlegalmanagementsystem(software).
• Transitioningtoanewworkgroupstructurewithgreaterspeciality andfocusontheareasofactivity oftheOffice.
Our work
ThetablebelowdescribesthenumberofmattersreferredtotheOfficeoftheOfficialSolicitorforthe2009-10financialyear.
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Atotalof2,691matterswerereceivedduringtheyearandafurther1,130matterswereundertakenbyourcommercialpropertyworkteam.
Intotaltherewere3,821‘new’mattersreceivedbytheOfficeofTheOfficialSolicitorforthefinancialyear.
Thenumberoflegalmattersundertakenincreasedbymorethan350,comparedtolastyear,withourcommercialpropertyworkteamundertakingarecordnumberoffiles.
Our particular areas of advice
Acting for adults with impaired capacity: ThePublicTrusteeofQueenslandacceptstheroleofAdministratorforadultswithimpairedcapacitywhenappointedbytheQueenslandCivilandAdministrativeTribunal.
Oftentheseadultshaveneedforlegaladviceandservicesandsometimesareinvolvedinlitigation.Ourlegalpracticeisoftenrequiredtoprovidetheseservices.
Theserangefrom:
• Managingmatrimonialandpersonalinjuriesactions(forwhichthepracticeoftenseekstheassistanceofexternallegaladvice).
• Assistingadults,forwhomThePublicTrusteeofQueenslandisappointedAdministrator,thatarebeingsuedfordebtsowedortransactionssaidtohavebeenenteredinto.
• OccasionswhereTheOfficialSolicitoriscalledupontoinvestigatewhetherpropertyormoneyhasbeenunlawfullymisappropriatedfromtheseadults.
Someofthemostsignificantareasofourlegalpracticeinvolvesactingforadultswithimpairedcapacityincludes:
• Accommodation agreements: Providingadviceandsettlingaccommodationagreementsforadultswithanincapacity–nursinghomeandagedcareagreementsarereferredtoTheOfficialSolicitorforadvice.
Some403mattersofthisnaturewereconsideredbyTheOfficialSolicitorin2009-10.
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• Family Provision matters: Oftenadultswithanincapacity,whenoneoftheirparentsdies,areleftwithlittleprovisionfromtheDeceasedEstate.
TheOfficialSolicitorisaskedinthosecircumstancestoadviseastowhetherafamilyprovisionapplication(forfurtherandadequateprovisionfromtheEstateoftheparent)shouldbeadvanced;68newmattersofthiskindwerecommencedduringtheyear.
• Litigation:Oftenadultswithanincapacityarethesubjectoflitigationorneedtocommencelitigationtoprotecttheirinterests.
ThePublicTrusteeofQueensland,asAdministratorisoftenthedecision-makerinrespectofsuchlitigation; 35newmattersofthistypewereopenedinthefinancialyearending 30June2010.
• Misappropriation:26significantmatterswerecommencedinthefinancialyeardealingwithcircumstanceswhereadultswithimpairedcapacityhavebeenthesubjectofmisappropriation;byfamily,friendsorpreviousAttorneysorAdministrators.
Thesemattersareoftenprotractedandinvolved.
AtanypointTheOfficialSolicitorwillhavenearing200suchmattersbeingprogressed.
• Executor and Trustee: OneofThePublicTrusteeofQueensland’srolesistoactasExecutorandTrusteeinDeceasedEstates.Thisresultsinasubstantialamountoflegalwork.
TheOfficeofTheOfficialSolicitorhassignificantexpertiseandvolumeofworkinthisarea.Forthecurrentfinancialyearthishasincluded:
– Probate:Providingadviceandsettlingprobateapplications.
864matterswereconsideredbytheOfficeinthecurrentfinancialyear–320probateapplicationsandinexcessof540probateapplicationswhereThePublicTrusteeofQueenslandwasappointedExecutorofDeceasedEstates.
– Family Provision Applications: SometimesEstateswhereThePublicTrusteeofQueenslandisappointedasExecutorarethesubjecttofamilyprovisionapplications–although notnecessarilyfromadultswith adisability.
80familyprovisionapplicationsweredefendedbyThePublicTrusteeofQueenslandthrough TheOfficialSolicitorintheyearended30June2010.
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– Other advice – Probate Litigation: SometimesthereisacontestastothevalidityofthelastWillofthedeceased.IssuesastocapacitymightberaisedandthematterneedstoproceedtoaSupremeCourtJudgefordecision.
40newmattersofthiskindwerereceivedandwerethesubject ofadviceworkduringthe financialyear.
– Other advice and litigation:TrustandEstatesarefrequentlythesubjectofclaims,forexamplebycreditorsorthosewhoassertaninterestinthepropertyoftheEstate.
ThePublicTrusteeofQueenslandinhisroleasTrustee,frequentlyrequireslegaladviceastorights,interestsandinvestments.
Some67mattersinvolvinglitigationorcomplexadvicewerereferredtoTheOfficialSolicitorduringtheyear.
• Special functions of a public nature: OnepartofthePublic Trustee Act 1978 imposessomefunctionsofapublicnatureonThePublicTrustee ofQueensland.
ThesestatutoryfunctionsarepeculiartoThePublicTrusteeofQueenslandandservetogenerallyassistthecommunity.
OftenthelegalpracticeofTheOfficialSolicitorprovidesthoseservices:
– Sanctions:Incircumstanceswhereapersonunderalegaldisability(achildoranadultwithalegalincapacityclaimsmoneyordamagesorhasaclaimformoneyordamagesagainstthem)theCourtorThePublicTrusteeiscalledupontosanctionthesettlement.
Thishappenswhereachildorapersonunderalegaldisabilityisinvolvedinapersonalinjuriesaction–thatissuingfordamages.Achildorapersonunderalegaldisabilitycannotagreetocompromiseorsettlethosetypesofactions.Inordertoensurethereisatimelyresolutionifasettlementcanbereached,theCourtorThePublicTrusteewillscrutinisetheagreementtoensurethatitisreasonableandfair(tothechildortheadultwithimpairedcapacity).
Thisareaofactivityisgenerallyknownasthesanctionjurisdiction.
252sanctionswereconsideredbyourofficeintheyearended 30June2010.
– Prisoners:AseparatepartofthePublic Trustee Act 1978 provides thatanypersonwhoisconvictedofanindictableoffenceandisundergoingasentenceofthreeyearsorupwards,istohavehisorherestate(property)managedbyThePublicTrusteeofQueensland.
Oftenprisonersarethesubjectofclaimsforcompensationbyvictimsandwithgreaterfrequency,claimsbytheStateinrespectoftheproceedsofcrime.
Some265ofsuchlegalmatterswerecommencedduringthefinancialyear.
OrganisationalSupport
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OrganisationalSupport
• WorkingcollaborativelywithQueenslandStateArchivestoimplementmoreeffectiverecordkeepingpracticesforourorganisation.
• Preparingover3,000taxreturnsandprovidingtimelyandaccuratereportingtoeachofthebusinessareasincludingfinalisingtheannualfinancialstatements.
• Undertaking385auctionsduringthefinancialyearandincreasingthenumberoflotsoffurnitureandcomputerssoldby16%.
• FacilitatinganewarrangementwithQFleetforthesaleofsurplusvehiclesrightacrossQueenslandforthenextthreeyears.
• CooperatingwiththeDepartmentofJusticeandAttorney-GeneraltosupporttheirPlanning for Lifeforums.
• Supportingover100communityawarenessvisitsandsponsoringtheQueenslandSymphonyOrchestraandSeniorSuperstartopromoteourservices.
OrganisationalSupportprovidesarangeservicestoThePublicTrustee’sinternalandexternalclients.Ourkeymanagementareasincludeaccountingandfinance,property,publicaffairs,recordsmanagementandinformationtechnology.
Someofourachievementsforthe2009-2010financialyearincluded:
• Movingourfacilitiesmanagementinhousetoprovidemoreeconomicalmanagementofourbuildingsandamoreenergyefficientandsafeworkenvironmentforourstaff.
• ReviewingandenhancingourClientInformationSystem(CIMS)inconjunctionwithUNYSIStoimprovethesystem’scapabilitiessowebetterserveourclients.
• Undertakingongoingimplementationofourelectronicdocumentandrecordsmanagementsystem(EDRMS),withasuccessfulpilotconductedbyourinformationservicesteam.Thiswillensuremoresecureandcosteffectivemanagementofourdocumentsforourclientandorganisation.
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Our Finance Program
TheFinanceProgramconsistsofthreesub-programsthatprovidekeyorganisationalsupporttoallareasoftheOffice. Thethreeteamsthatcomprisethe Financeprogramare:
• FinancialAccounting
• DecisionSupportServices
• Taxation.
Financial Accounting Services
FinancialAccountingServicesprovidebusinessservicestobothcoreoperationsandexternalpartiesofourorganisation.Thisincludesprovidingexpertfinancialadvice,administrativeprocessingandpreparingannualfinancialstatements.
KeyachievementsduringtheyearincludedthesuccessfulimplementationofODX–asecuregatewayfortheautomatictransferofelectronicfileswithourbankingpartners.
Otherkeyachievementsincludethecompletionofallmonthlyfinancialreportswithinfivedaysofendofmonth.
Decision Support Services
DecisionSupportServicesprovidesqualitybusinessreportingandforecastdatatoseniormanagementtoenablestrategicdecision-making.
Thisyearweselectedandimplementedabusinessintelligencetool.Thiswillenhancereportingtomanagementtoenablemeasurementagainstourkeyperformanceindicators.
Thereportswilloutlinepastperformance,asanindicatorofprogresstowardstrategicobjectives,presentperformancetoindicatehowtheOfficeiscurrentlyoperatingandfutureperformancetoindicatehowcurrentstrategieswillleadtofulfillingtheOffice’sstrategicobjectives.
Taxation
ThisyearourTaxAccountingteamoperatedanAustralianTaxationOfficelodgementprogram,underaregisteredtaxagent.TheteamalsoprovidedtaxationaccountingservicesforourclientsandadvicetoTrustOfficerswhoareresponsibleforourclients’financialaffairs.TheTaxAccountingteampreparedapproximately3,000taxreturnsthisfinancialyear.
Property
OurpropertyteammanagestheOffice’scorporatepropertyacrossQueensland.WealsosupportthestaffthatadministerDeceasedEstatesandprovidefinancialmanagementservicestoourclients. Ourcoreservicesare:
• Managementofcorporate propertyassets
• House,motorvehicleand furnitureauctions
• Propertymanagement
• Propertyvaluation.
Intheyearended30June2010,thePropertysubprogramprovidedauctionservicesthroughoutthestate,withhouseandmotorvehicleauctionsregularlyconductedacrossQueensland.Weconductedover385auctionsduring2009-10.
Thisyear,therewasanincreaseof19%inthenumberofitemsoffurnitureandcomputerssold.
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Ourpropertyteamsold172houses,5612motorvehiclesand17,084lotsoffurnitureandcomputersintheyearended30June2010.Additionally1,385valuationswerearrangedonbehalfofDeceasedEstateandTrustclients,representingan8%increaseinvaluationsovertheprioryear.
OtherservicesprovidedtotheQueenslandGovernmentin2009-10included:
• Managingthetenderofgamingmachineoperatingauthorities
• AuctioningsurplusQFleetvehiclesthroughoutQueensland
• AssistingtheDepartmentofMinesandEnergyinrelationtothe2008minessubsidenceatCollingwoodPark
• Liquidatingassetsacquiredfromtheproceedsofcrime.
Information Services
InformationServicesmanagesourITsystemsandresources.InvestmentanddevelopmentofourITsystemsaredeterminedbyourInformationSteeringCommitteeagainstfourcriteria:
• Reducingcosts
• Increasingrevenue
• Increasingproductivity
• Complyingwithlegislation.
Servicesweprovidedduringtheyearincluded:
• Maintaininganddevelopingnetworkservices,includingservers,personalcomputers,printersandotherhardwareandsoftware.
• Developmentandmaintenanceoftheorganisation’sClientInformationManagementSystem(CIMS).
• ProvidingServiceDesksupportfordesktopsystems,FinanceOneandCIMS.
• Managingrecords,mailanddocumentmanagementsystems.
• Providingwebdevelopmentandmaintenance.
Ensuring compliant record keeping
TomeetourobligationsundertheprovisionsofthePublic Records Act 2002andtheprinciplescontainedinInformationStandard40:Recordkeeping.TheStateArchivistendorsedourStrategicRecordkeepingImplementationPlan.
During2009-10,wemadeconsiderableprogresstowardsachievingcompliancewithInformationStandard40,throughtheselectionandpurchaseofanelectronicdocumentrecordsmanagementsolution.ApilotwasimplementedinApril2010,withtherolloutacrossourorganisationscheduledtooccurin2010-11.
Weimprovedourrecordkeepingpracticesby:
• AppointingaRecordsManager
• Implementingacorporaterecordkeepingpolicy
• HavingourretentionanddisposalscheduleendorsedbytheStateArchivist
• Updatingjobdescriptionstoincluderecordkeepingasoneoftheresponsibilities
• Runningrecordkeepingawarenesssessionsforstaff.
Wealsoensuredourrecordsstaffreceivedongoingtrainingineffectiverecordsmanagementpractices.
AllnewWillsandEnduringPowersofAttorneymadebyThePublicTrusteeduring2009-10wereimagedelectronically.Thisfurtherenhancedourrecordkeepingcomplianceandprovidedoperationalefficienciesandpapersavings.
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Public Affairs
Duringthe2009-10,PublicAffairsprovidedmarketing,communicationandpublicrelationssupportandadvicetoourinternalandourexternalclients,includingourregionaloffices.
Inadditiontomaintainingourbrandandundertakingadvertisingandmediamanagement,ourPublicAffairsteamalsosupportedover100communityevents,speakingengagementsandsponsorships.Including:
• QueenslandSymphonyOrchestra–MusiconSundays
• SeniorSuperstar
• BrisbaneEKKA
• ToowoombaFarmFest
• LawWeek2010
• BrisbaneRetirementandLifestyleExpo
WearecommittedtoeducatingQueenslandersabouttheneedforeveryoneovertheageof18,tohaveavalidWillandanEnduringPowerofAttorney.Supportingsponsorships,eventsandspeakingengagementsareanimportantpartofmeetingourCommunityServiceObligations.
Supporting Planning for Life
DuringtheyearwesupportedtheDepartmentofJusticeandAttorney-General’sPlanning for Life ForumsheldinCairnsandToowoomba.TheseforumsweredesignedtoeducatethecommunityontheimportanceofhavingavalidWillandEnduringPowerofAttorneyforfinancial,healthandpersonalmatters.TheforumsalsohighlightedhowtheState’sjusticeandguardianshipagenciesinteracttoprotectvulnerableQueenslanders.
PeterCarne,ThePublicTrusteeofQueenslandjoinedwiththeHon.CameronDick,Attorney-GeneralandMinisterforIndustrialRelations,DiannePendergast,TheAdultGuardian,LindsayIrons,ThePublicAdvocateandrepresentativesoftheQueenslandCivilandAdministrativeTribunal,SeniorsLegalandSupportServiceandarangeofcommunityadvocacyagenciestopromotetheimportanceofallQueenslandersplanningfortheirfuture.
Sponsorship of 139 Club
InDecember2009,wesponsoredthe139Club,acharityinBrisbane’sFortitudeValleythatprovidesarangeofservicesandassistancetohomelesspeople.Withoursponsorship,the139Club’sManager,RodKellywasabletopurchase60streetswagstoassistthehomeless.
Rod Kelly and Peter Carne
Investment Services
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InvestmentServices
TheinvestmentstrategiesthatwereemployedtomanageourCommonFundresultedinstrongoutperformanceovertheforecastedbenchmarkandThePublicTrusteeInvestmentFundsperformedwellinvolatilemarketconditions.
Planning our investments
for the future
Forustocontinuetodeliverprudentinvestmentservicesefficientlyandeffectively,wemustprepareforfuturechangestothewaywemanageourassets. Wearecurrentlyassessingnewtechnologyandtheautomationofanumberofinvestmentrelatedfunctionstoensurethesustainabilityofouroperatingenvironment.
Wealsofacethechallengeofperforminginalowerandvolatilereturnenvironmentandensuringwerespondaccordingly.Toaddressthisissue,particularlyinresponsetotheuncertaintyinglobalmarketsoverthefinancialyear,wepartneredwithQICLimitedtodevelopinvestmentstrategiesforboththeCommonFundandThePublicTrusteeInvestmentFunds.
InvestmentServicesprovidesadviceandinvestmentsolutionstotheOfficeandourclients.Ourroleistoensuretheprudentialmanagementoffundsheldintrustonbehalfofourclientsbyprovidingprofessionalinvestmentservices.
Wecloselymonitorourinvestmentopportunities,particularlyinregardtoriskandreturns.Weworkinpartnershipwithotheragenciesandanumberofkeypartnersinthefinancialservicesindustrytobothsafeguardourassetsandmaximiseourreturns.
ThisyearwefocusedonplanningforthefutureneedsofourclientsandwedevelopedourInvestmentServicesOperationalPlaninlinewithourStrategic Plan 2009-2013.ThisalsoincludedareviewofInvestmentServicesseniorstructuretoensurewemeetourfutureobjectives.
Thisfinancialyear,thevolumeoffinancialassetsundermanagementexceeded$1.17Bandourfundsmanagementoperationswerebenchmarkedtoindustrystandards.
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Theseinitiativesprovideinvestmentportfoliodiversity,reduceriskandenhanceourabilitytomeetperformanceobjectives.Weareconfidentthatourplanningandstaffcommitmentwillpositionustomeettheexpectationsofourclientsandstakeholders.Oursuccessfulperformancethisyearisduetotheskillsanddedicationofourstaffandourpartnershipsinthefinancialservicesindustry.
Wehaveanumberofstaffinthefinancialplanningandtechnicalservicesunitwithfinancialplanningqualifications.ThesestaffareavailabletoassistourTrustOfficerswithinvestmentandfinancialplanningrelatedissues.
Wearefocusingonwaystoexpandandimproveourserviceswithintheorganisation.Wecommencedaprojectthisfinancialyear,toenhancetheefficiencyofourfinancialplanningprocessandreducethecostsinvolvedintheprovisionofthisservice.
ThisyearweenhancedtheinvestmentmanagementofourCommonFundbyimplementingarevisedinvestmentstrategy.Thisstrategyprovidesenhancedcapitalstability,minimisesinterestraterisksandenhancesthestabilityofincomepayments.
Ourinvestmentstrategywasimplementedthroughastagedprocessovertheyear.ThisrevisedstrategywillimproveriskcontrolandenhancetheabilityoftheCommonFundtoachieveourperformanceobjectives.
Financial Services
OurfinancialplanningservicesareprovidedthrougharrangementswithRBSMorgans,oneofAustralia’slargestfinancialplanningfirms.Throughthisarrangement,ourclientshaveaccesstoawiderangeofinvestmentandfinancialservices.Thelong-termmanagementofclients’largeholdingsoflistedequitiesisassistedbyRBSMorganswealth plus.
TheadministrationoflistedequitiesinestatemattersisassistedbyarangeofservicesprovidedbythestockbrokingfirmWilsonHTMLimited.
TheInvestmentServicesProgram,inconsultationwithQICLimited,isresponsibleforprovidinginvestmentadviceontheinvestmentmanagementonawiderangeofsocialinfrastructurefunds,suchasTheQueenslandCommunityFoundationandTheLadyBowenTrust.
Funds Management
Weareresponsiblefor$1.17Boffundsundermanagement.Asat30June2010thevolumeoffundsinvestedinThePublicTrusteeInvestmentFundwas$476M.TheinvestmentmanagementofThePublicTrustInvestmentFundiscarriedoutbyQICLimited,aGovernmentownedcorporationwithover$50Boffundsundermanagement.TheFundcomprisesfourunittrustseachwithitsowninvestmentstrategy.
InconsultationwithQICLimitedandThePublicTrustOfficeInvestmentBoard,wereviewedtheinvestmentstrategyofThePublicTrustInvestmentFundtoensureourlong-termobjectivescontinuedtobemet.
Oursuccessfulperformancethisyearisduetotheskillsanddedicationofourstaffandourpartnerships
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Fortheperiodended30June2010theperformanceoftheFund’sgrossoftaxesandfeeswasasfollows:
Public Trustee Higher Growth Fund
Public Trustee Growth Fund
Public Trustee Conservative Fund
Public Trustee Australian Equities Fund
Annual Return 1 Year p.a. 3 Years p.a. 5 Years p.a. 7 years p.a.
Fund 14.21% -6.80% 3.01% 7.02%
Benchmark 12.93% -5.62% 3.36% 6.98%
Annual Return 1 Year p.a. 3 Years p.a. 5 Years p.a. 7 years p.a.
Fund 14.51% -3.62% 3.86% 6.91%
Benchmark 12.31% -2.54% 4.04% 6.74%
Annual Return 1 Year p.a. 3 Years p.a. 5 Years p.a. 7 years p.a.
Fund 14.67% 1.07% 4.94% 6.59%
Benchmark 11.05% 1.96% 4.93% 6.28%
Annual Return 1 Year p.a. 3 Years p.a. 5 Years p.a. 7 years p.a.
Fund 13.14% -6.93% 4.94% 10.30%
Benchmark 13.15% -7.84% 4.52% 9.73%
sourcedbymakinginvestmentsinarangeofQICLimited’sabsolutereturnfunds.Asat30June2010,themarketvalueofthefinancialassetsoftheCommonFundwasover$465M.
TheCommonFund’sallocationtocashandfixedinterestresultedinsoundinvestmentperformancewithareturnof7.26%fortheyear,similartothereturnof7.29%achievedlastfinancialyear.
AllinterestratespayableonfundsheldintheCommonFundwerereviewedonamonthlybasisbyThePublicTrustOfficeInvestmentBoardandThePublicTrusteeofQueenslandwasadvisedaccordingly.AnychangestointerestratesareactionedthroughamendmentstothePublic Trustee Regulation 2001.
Theyearended30June2010sawareboundinworldequitymarketsfollowingthelowexperiencedinMarch2009.Whilstglobalinterestratesremainedathistoricallowlevels,interestratesinAustraliahaveincreased.AnoverviewofinvestmentmarketsisoutlinedbyQICLimitedonpagex.
ThePublicTrusteeAustralianFixedInterestFundwasclosedduringtheyearandterminatedon30June2010.
TheinvestmentsoftheCommonFundconsistprimarilyofdirectinvestmentsinthecashandfixedinterestmarketsandinvestments.Theactivereturnstrategiesare
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Atthebeginningofthefinancialyear,equitymarketscontinuedtorallyfromthelowsofMarch2009,onindicationsthatworldeconomicgrowthwasbottoming.TheJunequarter2009finallysawpositiveeconomicgrowthinseveralemergingmarkets,onthebackofstrongChinesegrowth,aswellasarecoveryinEuropeandJapan.Thenarrowingofcreditspreadsandbankborrowingrateshelpedreducethecostofcapitalandimprovedcorporateearningsgrowth,supportingequitymarkets.Thetoneofeconomicdataimprovedsteadilyoverthesecondhalfof2009.
However,itwasevidenttheworld’slargesteconomiesremainedfragile.TheUnitedStatesemergedfromrecessioninOctober,howeverhousingdatatherecontinuestodisappointandjoblosses,whileonadownwardtrend,stillpushedtheunemploymentratetoa25-yearhigh.Theendofthecalendaryearwasdominatedbycrisesanduncertaintyandequitymarketstradedside-waysforawhile.
Bymid-ApriltheGreekdebttroubleswerecentreofmind.Riskappetiteevaporatedandequitymarketsbegantoreversethegainsofthefirsthalfofthefinancialyear.ByMay,thedebtcrisishadspreadacrosstheEuropeanperipheryandequitysold-offsharply.TheEUandIMFwereforcedtoenacta€750Bsupportfacilitytostemratingsdowngradesandsoaringsovereignbondyieldsincountrieswheredebtsustainabilitywasquestioned(especiallyGreece).DuringthefirsthalfofJune,equitymarketssawashorttermrallyassentimentimproved.However,bytheendofthemonth,theintroductionofausteritymeasuresacrossEurope,aswellasweakerdatafromtheUSandChina,increasedtheuncertaintyregardinggrowthforecasts,leadingtoanewsell-off.
InAustralia,theeconomywassupportedin2009bydemandgeneratedbygovernmentinfrastructurespendingandthesocialstimulus,offsettingpartoftheslowdowninconsumerdemand.ItappearedclearthattheAustralianrecessionhadbeenveryshallow,leadingtoarelativelyminorincreaseintheunemploymentrate.TheAustralianequitymarketwasverystronguntilOctober.CombinedwithastrongAustraliandollar,thismadetheAustralianmarketoneofthebestperformersaroundthedevelopedworlduptotheendofSeptember(+34.4%fromtheendofMarch2009).ThemarkettradedsidewaysbetweenendofSeptemberandendofFebruary,consolidatingtheverysharpgainsmadeinthefirstquarterofthefinancialyear.ItthenralliedsharplytomidApril,beforedecliningsignificantlytofinishtheyearup13.2%overthefinancialyear.
Year in review prepared by QIC Limited for The Public TrusteeMarket Review
Atthebeginningofthefinancialyear,sovereignbondyieldsralliedasinflationfearsdeclinedanditbecameapparentthatpolicyratesweretobekeptlowforanextendedperiod.However,inthemiddleofthefinancialyear,bondssold-offonexpectationsofheavysupplyin2010andrisinginflationexpectations.CorecountriessovereignbondsfinallyralliedfromApril,onflighttoqualityfollowingtheGreekdebtcrisis.Australianbondyieldswereveryvolatileovertheyear,withina5.1%to5.9%range.
Creditspreadsnarrowedastheeconomyrecovered,loweringtherisksoncorporateearnings.Liquidityimprovedsharply.Bytheendofthecalendaryear,investmentgradeandhighyieldnameswereabletoissuedebt.Withdebtcapitalmarketsopenandbusinessesabletorefinance,thedefaultoutlookhadimprovedconsiderably,supportingtherallyincreditmarkets.BytheendofMarch2010,highyieldspreadswereat5.70%,atwoyearlow,whileinvestmentgradecreditspreadswereat1.50%,theirlowestsinceNovember2007.However,riskaversionledtoanewincreaseincreditspreadsbytheendofthefinancialyear.UShighyieldsspreadsfinishedtheyearat7.0%andinvestmentgradespreadsat1.93%.
AtitsOctobermeeting,theReserveBankofAustraliabecamethefirstG20centralbanktostartunwindingmonetarypolicystimulus,witha25basispointincreaseintheofficialcashrateto3.25%.Itfollowedupwitha0.25%increment,astheoutlookforclosetotrendglobalgrowthin2010-11appearedmorecertain.Thecashratefinishedthecalendaryearat3.75%.TheReserveBankofAustraliathenpauseduntilMarch,asmarketvolatilityincreasedfollowingconcernsovertheEuropeandebtcrisis.ThreeconsecutivehikesinMarch,AprilandMaytookthecashrateto4.5%.
Australian and International equities
Alongwithotherriskyassets,therewasasustainedrallyacrossglobalequitymarketsformuchofthe2009-10financialyear.March2009markedthebottomformostglobalmarketsfollowingthedevastatinglossesfromtheGlobalFinancialCrisis.Fromextremelyhighlevels,riskaversionsubsidedaseconomicdatabegantoshowsignsofimprovementandcompanieswereabletodemonstratedramaticcostsavingstoreturntoprofit.
Therallylostitswaybymid-April2010,asrelativelycontainedGreekdebtconcernstransformedintoaEuropeansovereigndebtcrisisengulfingseveralperipheralEUnations.Thisunsettledequitymarketsgloballyandledtoare-ratingofthegrowthoutlook.Sincethen,troublingeconomicdatafromtheUShasaddedtothisuncertainty.
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35bpsand80bps,withGermanbondsthemainbeneficiaryfromtheflight-to-qualityfromperipheralEuropeancountries.
Aftertheturbulenceofthepasttwoyears,corporatecreditmarketsunderwentastrong,broad-basedrallyoverthefinancialyear.TheBarclaysCapitalUSInvestmentGradeIndexreturned15.9%,whiletheHighYieldIndexgained26.7%onatotalreturnbasis.Fromspreadsinexcessof600basispointsduringthefinancialcrisis,physicalinvestmentgradecreditralliedtoaround140basispointsbeforeclosingtheyearat193,inconjunctionwiththewithdrawalofriskcapitalassociatedwiththeEuropeansovereigndebtcrisis.Similarly,highyieldcreditspreadscontractedsignificantly.Theyfinishedthefinancialyearat233basispointsabovecomparableUSTreasuries,from376basispoints12monthsearlier.
Cash
TheReserveBankofAustraliaincreasedthecashratesixtimesovertheyeartakingthecashratefromitsemergencysettingof3.25%toamorenormalrateof4.50%.TheReserveBankofAustraliawereforcedtobalanceastrongrecoveryintheAustralianeconomywithglobaleconomicuncertaintyinthemajorEuropeanandUSmarkets.TheReserveBankofAustraliaremainedconcernedbythefactthatalthoughtheinflationratebeganslowing,itwasstillexpectedtotroughtowardsthehigherendofthetargetband.TheUBSABankBillindexreturned3.89%overtheyear.
Currency
TheAustraliandollarreachedahighof0.93USDbySeptember2009,onthebackofastrongpositiveinterestratedifferentialwithotherdevelopedeconomiesandstrongcommodityprices.ContinuedweaknessintheUSeconomyinthefirsthalfofthefinancialyearkepttheUSdollarweak.Theeuroreachedahighjustabove1.50USDbyNovember2009.
TheUSDappreciatedsolidlyduringDecembertorecordariseagainstboththeYenandtheEuro.Themaincatalystwasstrongerthanexpecteddataandastabilisationinunemployment.Atthebeginningofthecalendaryear,theGreeksovereigndebtcrisisfurtherweighedontheEuro.
TheBritishpounddeclinedsharplyfrommidNovember2009,onaweakeconomyandquantitativeeasing.TheYenalsounderperformedasauthoritiesintroducedfurtherexpansionaryfiscalandmonetarypolicies.
OvertheMarchquarter,risingcommoditypricesbenefitedtheAustralianandCanadiandollars,whilesovereigndebtconcernscontinuetoweighontheEuro.IntheJunequarter,riskaversiondrovetheYenandUSdollarup.
TheMSCIWorld(exAustralia)Indexofdevelopedmarketequitiespostedafullyearreturnof11.5%.Regionally,theUSS&P500gained14.4%,whiletheRussell2000Index,anindicatorofsmallcaps,wasup21.5%.InEurope,boththeDAXinGermanyandtheCACinFrancepostedsolidgains,up24.1%and14.0%,respectively,whiletheFTSE100inLondonwasup19.8%.TheJapaneseNikkei225wasdown5.8%.
Emergingmarketequitieswereagainstrongthisfinancialyear,withatotalreturnof19.8%ontheMSCIEmergingMarketsIndex.ThiswasdespiteweakChineseequities,withtheShanghaiCompositedown18.9%overthepast12months.
InAustralia,theS&P/ASX200AccumulationIndexreturned13.2%.TheInformationTechnologyandFinancialssectorswereparticularlystrongwhileEnergyandHealthcaredetracted.Smallcapsunderperformedthelargecapsbenchmark,withtheASXSmallOrdinariesAccumulationIndexadding11.2%.Onastylebasis,Australianvalueoutperformedthebroadermarket.
Global Listed Real Estate
GlobalListedRealEstateperformedstronglyoverthecourseofthe2010financialyearascreditconcernseasedandinvestorsreturnedtoriskassets.TheUBSGlobalInvestorsIndex(AUDHedged)finishedtheyearup39.1%.AllregionspostedpositivereturnswiththeexceptionofJapan.NorthAmericaandSingaporebothoutperformedtheglobalIndex,rallying53.2%and40.6%respectively.DomesticallytheASX300A-REITAccumulationIndexfinishedtheyear20.3%higher.Hotels(68.5%)wasthestrongestperformingsectorgivenitsleveragetotheeconomicrecovery,followedbyRetail(32.4%)andIndustrial(32.0%).
Fixed interest
Globalfixedinterestmarketswererangeboundformuchoftheyearasthemarketviewoscillatedbetweenastrongandaweakeconomicrecovery.However,thelaterpartoftheyearwasdominatedbyEuropeansovereignconcernswhichcausedglobalbondyieldstofallsignificantly.InAustralia,theReserveBankofAustrliaincreasedthecashratefrom3.25%toamorenormallevelof4.50%overtheyear,astheeconomyperformedwell.
Despitethecashraterise,10-yearbondsrallied43bpsto5.09%duetoglobalconcerns.US,EuropeanandUKbondsallralliedbetween
HumanResources
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HumanResourceManagement
Ourfocusduring2009-10wastoincreasethecapacityofourpeople.ItisthroughourstaffthatwedeliverourservicestoQueensland.ForthisreasonourStrategic Plan 2009-2013 placesstrongemphasisuponsupportingandimprovingourstaff.
OurhighlightsEstablishing a Learning
and Development Unit
Thisyearwecreatedanewunittoensurewetrainanddevelopourstaffeffectively.TheLearningandDevelopmentUnitachievedthefollowing:
• ContinuedtosupportourstaffundertakingCertificate,DiplomaandUnderGraduatequalificationthroughtheStudyandResearchAssistanceScheme.
• Coordinatedsignificantlearninganddevelopmenttrainingdeliveredbyexternalsuppliers.AhighlightwasarrangingtheQueenslandOmbudsman’sOfficetodelivercomplaintstrainingtoallstaffinallregions,sowecanimproveourservicetoourclients.
• Facilitatedthedeliveryofotherexternalcoursesincluding:
– CertificateIVinFinancialServices(PersonalTrustAdministration)
– CertificateIVinGovernment
– DiplomainFinancialPlanning
– PublicSectorManagementprogram(postgraduatecertificatelevel).
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• Co-ordinatedand/ordeliveredarangeofin-housedevelopmentopportunities,includingprovidingspecialisttechnicaltrainingforClientServicesstaff.Coursesincluded:
– PracticalPeopleManagement(PPM)program
– Springboardprogram
– DisabilityServicesAwarenessandCommunication
– Pro-socialbehaviourworkshops
– WillsandDocumentworkshops.
NextfinancialyearourLearningandDevelopmentUnitwillfocuson:
• Identifyingimprovedwaystodevelopourstaff
• ImplementingourPerformancePlanningandDevelopmentProgram
• Designinganddeliveringtraining
• ContinuingourStudyandResearchAssistanceScheme
• Increasingdeliveryoftechnicalandcommunicationtrainingtoourcoreservicedeliverystaff
• FinalisingProfessionalDevelopmentSupporttoolsandcalendar.
Peter Carne, Dr Leonie Horrigan and Peter Mulholland.
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Developing Performance
Planning and Development
Duringtheyearwecommittedtoabroadreviewofperformanceplanninganddevelopmentforallourstaff.
Newpoliciesandprocedureshavebeendevelopedthatwillbeimplementedin2010-11.Thiswillseeourstaffundertakeaco-ordinatedandclearperformanceplanninganddevelopmentcycle.Thisis tobesupportedbyacomprehensivetrainingprogram.
OurperformanceanddevelopmentprocessislinkedtodeliveringourStrategic Plan 2009–2013.Thiswillassistourstafftoclearlyunderstandtheirrolesandaccountabilities.
Workforce planning
Duringtheyearwecommencedaworkforceplanningproject.Thiswillcontinueinto2010-11,withareviewofourrecruitmentandselection,rewardsandrecognitionandretentionstrategies.
Wewilldevelopaclearplantoensurewehavetherightnumberofpeople,attherighttimetodeliverourservicestoQueenslanders.
Evaluating organisational culture
Duringtheyearwereviewedourworkandorganisational,culturesowecanbetterprogressorganisationalchangesinthecomingfinancialyear.Ourfocusison:
Transparency –wewillensureourdecisionsarehigh-quality,timelyandappropriate;andourstaffareempoweredtoquestiondecisionsanderrors,sowecanprovidethebestdecisionsforclients.
Client Service –wewillapproachclientservicewithclearopportunitiesforstafftoprovideinputtoplanningandideaswithinthescopeofourrole.
Practices and Procedures –wewillreviewourpractices,processesandprocedurestoensureourclientsreceivethehighestpossibleserviceinanefficientandeffectivemanner.
Delegations –wewillreviewourdelegationstoensurethatdecision-makingismadeattheappropriatelevel.
Personal Performance and Accountability – wewillemphasisetoourstafftheimportanceoftheirpersonalperformanceandaccountability.
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Our Workforce profile
Workforceprofileoftargetgroups-Equal Opportunity in Public Employment Act 1992
Category Total
Permanentstaff FullTime 434
PartTime 46
Total 480
Secondment(outofoffice) 4
Total 4
Temporarystaff FullTime 27
PartTime 4
Total 31
Grand Total 515
Category Staff
AboriginalandTorresStraitIslander 4
NonEnglish-SpeakingBackground 31
PeoplewithaDisability 38
Women 370
Voluntary early retirements
Wehadnovoluntaryearlyretirementsduring2009-10.
Redundancies
Therewerenoredundanciesin2009-10.
Whistleblowers
TherewerenodisclosuresmadeundertheWhistleblowers Protection Act 1994during2009-10.
Overseas travel
Nooverseastravelwasundertakenbyanyemployeesin2009-10.
Classification 2008-09 2009-10
AO2 102 96
AO3 129 145
AO4 66 64
AO5 25 27
AO6 13 16
AO7 4 3
AO8 1 1
PO3 4 5
PO4 7 9
PO5 1 1
PO6 1 1
SO1.1 0 1
SO2.1 0 1
Thetableidentifiesthenumberofwomenemployedateachclassificationlevelwithinourorganisation.
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International Women’s Day 2010
EachyearweencourageourstafftocelebrateInternationalWomen’sDay, withmanyofourofficesacrossQueenslandholdingevents.Officesthatheldeventsincluded:Ipswich,Southport,SunshineCoast,Townsville,Cairns,GladstoneandBundaberg.
Thisyearover60stafffromourBrisbaneOfficesattendedanInternational Women’sDaymorningteacelebration at444QueenStreet.
PeterCarne,ThePublicTrusteeofQueenslandwasjoinedbyspeakersLindaLavarchformerAttorney-GeneralandMinisterforJustice,KerrinBensonCEOoftheMulticulturalDevelopmentAssociation,JenineBeekhyzenauthorandITspecialistandAlanaPellyaninspirationalconsultantandbreastcancersurvivor.
Initiatives for women
Womenare71%ofourworkforceandwearecommittedtoensuringacultureofequalopportunityexistswithinourorganisation.Initiativesthatassistwomentocompeteforpromotionequitablywithinourorganisationinclude:
• Springboardtraining
• SponsoringparticipationinthePublicSectorManagementProgram
• EncouragingwomentoobtaintertiaryqualificationsbyprovidingStudyandResearchAssistanceSchemeassistance
• Ensuringwomenarerepresentedonourboardsandcommittees.
Women on boards
OurInvestmentBoardhasfourmembersincludingMsHelenDavis,ChiefStrategyOfficer,QSuper.
OurStrategicGovernanceGrouphasseventeenmembers,includingKathrynWilliams,A/SpecialCounseland CarolineHannigan,ManagerAudit andEvaluationUnit.
Alana Perry, Kerrin Benson, Peter Carne, Linda Lavarch, Jenine Beekhyzen.
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Consultancies
Cost of boards and committees
Right to information
TheQueenslandGovernmenthasintroducedanewapproachtoaccessinginformation,withtheRight to Information Act 2009andtheInformation Privacy Act 2009.Governmentinformationistobereleasedadministrativelyasamatterofcourse,unlessthereisgoodreasonnottodoso.ApplicationsundertheRight
Name Cost for financial year
ThePublicTrustOfficeInvestmentBoard $3,851
AuditCommittee $12,669
to Information Act 2009 shouldbealastresort.
WehaverespondedtoQueenslandGovernment’spolicyby,wherepossible,releasinginformationadministratively.
Wealsodevelopedapublicationschemeonourwebsitewhichenablesustopublishavailableinformation.
Name Supplier
AurionCorporationPtyLtd 3,750.00
BDOKendalls 5,250.00
BrumfieldBird&SandfordPtyLtd 217.60
CCHAustralia 9,000.00
CompassAssetManagement 660.00
Deloitte 26,000.00
DeloitteActuaries&ConsultantsLtd 5,000.00
DeptofJustice&Attorney-General 2,427.27
DirectoryConceptsBrisbanePtyLtd 24,800.00
GourluckPtyLtd 7,650.00
GRRyanCostConsulting 2,250.00
HawkerBrittonPtyLtd 675.00
InfohrmPtyLtd 2,376.00
LambdaInvestmentSolutionsPtyLtd 9,000.00
LexisNexis 2,200.00
MercerAustraliaPtyLtd 26,796.00
NoelArnold&Associates 33,000.00
OfficeofEconomic&StatisticalResearch 385.45
People&PerformanceConsultingPtyLtd 47,864.96
PriceWaterHouseCoopers 11,853.20
TheConsultancyBureau 40,909.09
Total $267,038.21
FinancialStatements
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InvestmentTrusts
The Public Trustee of Queensland
Special purpose financial report
for the year ended 30 June 2010
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LegislationThePublicTrusteeisacorporationsoleconstitutedunderthePublic Trustee Act 1978. TheAttorney-GeneralandMinisterforIndustrialRelationsisresponsibleforthePublic Trustee Act 1978.
ThePublicTrusteeofQueenslandand ThePublicTrusteehaveawiderangeofpowersandfunctionsandoperatesundermanyActsincludingthefollowing:
• Acquisition of Land Act 1967
• Adoption of Children Act 1964
• Art Unions and Public Amusements Regulation 1992
• Associations Incorporation Act 1981
• Charitable Funds Act 1958
• Child Protection Act 1999
• Child Protection (International Measures) Act 2003
• Collections Act 1966
• Companies (Acquisition of Shares) (Application of Laws) Act 1981
• Corrective Services Act 2000
• Criminal Proceeds Confiscation Act 2002
• Disposal of Uncollected Goods Act 1967
• Drugs Misuse Act 1986
• Gaming Machine Regulation 2002
• Guardianship and Administration Act 2000
• Information Privacy Act 2009
• Juvenile Justice Act 1992
• Land Sales Act 1984
• Local Government Act 1993
• Manufactured Homes (Residential Parks) Act 2003
• Mineral Resources Act 1989
• Mixed Use Development Act 1993
• Motor Accident Insurance Regulation 2004
• Personal Injuries Proceedings Act 2002
• Police Powers and Responsibilities Act 2000
• Powers of Attorney Act 1998
• Property Agents and Motor Dealers Act 2000
• Property Law Act 1974
• Public Officers Superannuation Benefits Recovery Act 1988
• Public Trustee Act 1978
• Residential Services (Accommodation) Act 2002
• Residential Tenancies Act 1994
• Retirement Villages Act 1999
• Right to Information Act 2009
• Second-hand Dealers and Pawnbrokers Act 2003
• Storage Liens Act 1973
• Succession Act 1981
• Trust Accounts Act 1973
• Trusts Act 1973
• Water Act 2000
• Workers Compensation and Rehabilitation Act 2003
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GlossaryAccountable officer
ThechiefexecutiveofadepartmentofGovernmentdeclaredunderthePublic Service Act 2008,section14(1),istheaccountableofficerofthedepartment.(Financial Administration and Audit Act 1977, S 34(1)).
Annual Report
Awrittenreportontheoperationsoftheagencyduringthefinancialyear,asprescribedbytheFinancial Administration and Audit Act 1977, S 39.
Budget
AnoutlineofOffice’sprioritiesandplansforthecomingyear,expressedintermsoffinancialandnon-financialperformanceinformation.
Client Service Centres (CSC)
CSCsarestreamlinedprocessingcentreslocatedinlargerregionaloffices.
Community Service Obligations (CSO)
ServicestotheQueenslandcommunityperformedbytheOfficewhichareprovidedatnocosttoGovernment.
fiscal objectives
DetailtheOffice’scommitmenttomaintainingastrongfiscalpositionandassetbasetosupportthecurrentandfutureservicedeliveryneeds.
Government targets
Setspecific,observableandmeasurablegoalsforimprovementinkeypolicyareas.AchievementofGovernmenttargetsislikelytorequirecollaborationbetweenmultiplegovernmentagencies.
Toward Q2:Tomorrow’sQueenslandistheGovernment’sblueprintforthestatetothe year2020.
Non-Government Organisation (NGO)
Anassociationbasedonthecommoninterestsofitsmembers,individuals,orinstitutions.Ithasnogovernmentstatusorfunctionandisnotcreatedby,norisitsagendasetorimplementedby,agovernment.Theirworkisdevotedtotheenhancementofwelfareamongstthesociallydisadvantaged.
NGOsworkatthenationalorlocalcommunitylevelandoftenworkcooperativelywithgovernments.
public service office
AnentitystatedasapublicserviceofficeinSchedule1tothePublic Service Act 2008,orsubjecttosection23,anotherdesignatedentity,orpartofadesignatedentity,declaredunderaregulationtobeapublicserviceoffice.
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Service Delivery Statement (SDS)
BudgetpaperspreparedonaportfoliobasisbyagenciesreportingtoeachMinisterandtheSpeaker.TheSDSsetoutthepriorities,plansandfinancialstatementsofagencies.
service standard
Describesthestandardsofefficiencyandeffectivenesstowhichtheagencywilldeliverserviceswithinitsfiscallimit.Standardsaresetwiththeaimofdefiningalevelofperformancethatisappropriatefortheserviceandisexpectedtobeachieved.
services
Servicesarethedeliverablesthatwillhelptheagencytoachieveitsobjectives.Theydescribetheareasinwhichanagencydeliversservicestoitsclientsatalevelappropriatetotheagency.
strategic plan
EachAccountableofficerandstatutorybodymustdevelopastrategicplanfortheagencytocoveraperiodofatleast4years.
strategyThewayinwhichanagencyintendstopursueitsobjectivesanddeliveritsservices,andassistinachievingtheGovernment’sobjectivesforthecommunity.
Strategiescanoccuratvariouslevelswithin anagency.
the OfficeAbbreviationinthisreportofThePublicTrustee.
The Public TrusteeThe Public Trustee is an independent statutory authority that reports to Queensland Parliament through Queensland’s Attorney-General and Minister for Industrial Relations.
Operating as a corporation sole constituted under the Public Trustee Act 1978 we provide professional, accessible and reliable, trustee, financial and related services to Queenslanders.
For the purpose of this report The Public Trustee of Queensland refers to the independent statutory individual and The Public Trustee refers to our organisation as a whole.
The Public Trustee Annual Report 2009-10 is available at: www.pt.qld.gov.au
Marketing and CommunicationPhone: (07) 3213 9339 Email: marcoms@pt.qld.gov.au
Interpreter Service StatementWe are committed to providing accessible services to people with disability and people from culturally and linguistically diverse backgrounds. If you require assistance accessing this report phone 07 3213 9421.
Phone: 1300 360 044 Vist: www.pt.qld.gov.au
Contact UsBRISBAneTrustee House, 444 Queen Street, Brisbane GPO Box 1449, Brisbane, QLD 4001 Phone: (07) 3213 9288 Email: clientenq@pt.qld.gov.au Website: www.pt.qld.gov.au
BundABeRgTrustee House, 189 Bourbong Street, Bundaberg GPO Box 860, Bundaberg, QLD 4670 Phone: (07) 4181 0800 Email: pt_bundaberg@pt.qld.gov.au
CAIRnSTrustee House, 27 Sheridan Street, Cairns PO Box 656, Cairns QLD 4870 Phone: (07) 4040 7300 Email: pt_cairns@pt.qld.gov.au
glAdSToneTrustee House, 66 Goondoon Street, Gladstone PO Box 5021, Gladstone QLD 4680 Phone: (07) 4962 1100 Email: pt_gladstone@pt.qld.gov.au
IPSwIChTrustee House, 99 Brisbane Street, Ipswich PO Box 140, Ipswich QLD 4305 Phone: (07) 3432 6611 Email: pt_ipswich@pt.qld.gov.au
MACkAyTrustee House, 18 Brisbane Street, Mackay PO Box 401, Mackay QLD 4740 Phone: (07) 4969 4600 Email: pt_mackay@pt.qld.gov.au
MARyBoRoughTrustee House, 88 Ellena Street, Maryborough PO Box 280, Maryborough QLD 4650 Phone: (07) 4183 0900 Email: pt_maryborough@pt.qld.gov.au
MounT ISATrustee House, 18 Miles Street, Mount Isa PO Box 2000, Mount Isa QLD 4825 Phone: (07) 4764 0500 Email: pt_mountisa@pt.qld.gov.au
nAMBouRTrustee House, 72 Currie Street, Nambour PO Box 402, Nambour QLD 4560 Phone: (07) 5444 9400 Email: pt_nambour@pt.qld.gov.au
RedClIffeTrustee House, 165 Sutton Street, Redcliffe PO Box 131, Redcliffe QLD 4020 Phone: (07) 3817 9100 Email: pt_redcliffe@pt.qld.gov.au
RoCkhAMPTonTrustee House, 67 East Street, Rockhampton PO Box 273, Rockhampton QLD 4700 Phone: (07) 4999 3600 Email: pt_rockhampton@pt.qld.gov.au
SouThPoRTTrustee House, 66 Nerang Street, Southport PO Box 876, Southport QLD 4215 Phone: (07) 5588 5333 Email: pt_southport@pt.qld.gov.au
STRAThPIneTrustee House, 9/481 Gympie Road, Strathpine PO Box 313, Strathpine QLD 4500 Phone: (07) 3142 1900 Email: pt_strathpine@pt.qld.gov.au
SunShIne CoAST Suite 1-3, 20 Innovation Parkway, Birtinya PO Box 49, Buddina QLD 4575 Phone: (07) 5314 1800
ToowooMBA
Trustee House, 447 Ruthven Street, Toowoomba PO Box 139, Toowoomba QLD 4350 Phone: (07) 4631 8100 Email: pt_toowoomba@pt.qld.gov.au
TownSVIlleTrustee House, 438 Flinders Street, Townsville PO Box 960, Townsville QLD 4810 Phone: (07) 4753 0111 Email: pt_townsville@pt.qld.gov.au
© No part of this Annual Report may be reproduced in any format without the written approval of The Public Trustee of Queensland.
ABN 12 676 939 467
For more information about the services of The Public Trustee please visit www.pt.qld.gov.au
Regional Service delivery
Cairns
Townsville
Mount IsaMackay
Rockhampton
gladstoneBundaberg
Maryborough
nambourRedcliffeStrathpineBrisbane Metro
SouthportIpswich
Toowoomba
Sunshine Coast
The Public Trustee – Mission
To deliver a full range of professional, accessible and reliable trustee, financial and related services in a supportive,
compassionate and ethical manner.
The Public Trustee – Vision
To be Queensland’s best provider of trustee and administration services.
Annual Report
2009-2010
The Public Trustee