LGMS Board Update – including returns to members

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In the 2nd Quarter of 2021, the LGM Board of Management and the LGW Management Committee for the mutual schemes considered a number of important matters, with key highlights as follows:

LGM Board of Management 

QAO Local Government Report 2020 - The recently released QAO Financial Audit Report for Local Government 2020 and overall financial sustainability and viability of Councils was considered including a number of QAO recommendations for Councils.  The Board recognises the importance of long term sustainabiity for Councils and the schemes and discussed how the LGM mutual scheme is assisting members with a number of new or ongoing initiatives to address the recommendations for Council in the areas of risk management, cyber awareness and asset valuation. 

LGM Surplus Distribution of Funds – Most of our members will have already heard the good news that it was recommended to the LGAQ as Trustee of the mutual schemes that a $2.45 million surplus distribution of funds to be returned to LGM scheme members in the 2021/22 financial year.

LGW Management Committee 

QAO Local Government Report 2020 - The recently released QAO Financial Audit Report for Local Government 2020 and overall financial sustainability and viability of Councils was considered including a number of QAO recommendations for Councils.  The Management Committee recognises the importance of long term sustainability for Councils and the schemes and discussed how the LGW mutual scheme is assisting members with a number of new or ongoing initiatives to address the recommendations for Council in the areas of risk management and compliance.

LGW Surplus Distribution of Funds – Most of our members will have already heard the additional good news that it was recommended to the LGAQ as Trustee of the mutual schemes that a $2.45 million surplus distribution of funds be returned to LGW Scheme Members in the 2021/22 financial year.

LGW Skytrust Compliance Program – The Management Committee are pleased confirm the ongoing funding of annual subscriptions to the Skytrust Compliance Program for those Councils participating in the current pilot program, and further recommended that the program be extended to an additional 10 smaller Councils to participate in the program for a two-year commitment period, with extra training and support sessions available to members for this program.

LGW Incident Investigation Training – The Management Committee recognises that ongoing training for members to reduce risks and prevent injuriies continues to be a priority for the scheme. Members will be happy to hear that the Management Committee endorsed a recommendation to provide three Incident Investigation Training workshops to be subsidised by the scheme to support member Councils in Brisbane, Longreach and Cairns.