Territory Stories

NT Build : year at a glance 2007-2008

Details:

Title

NT Build : year at a glance 2007-2008

Creator

NT Build

Collection

NT Build : year at a glance; E-journals; E-Journals; PublicationNT; NT Build : year at a glance

Date

2009-02

Location

Woolner; Woolner

Notes

This publication contains many links to external sites. These external sites may no longer be active.; Made available via the Publications (Legal Deposit) Act 2004 (NT).; year three at a glance

Language

English

Subject

Long service leave; Construction industry; Periodicals

Publisher name

NT Build

Place of publication

Woolner

Series

NT Build : year at a glance

Volume

2007-2008, Issued: February 2009

File type

application/pdf

Use

Copyright

Copyright owner

NT Build

License

https://www.legislation.gov.au/Details/C2019C00042

Related materials

NT Building annual report [https://digitallant.nt.gov.au/jspui/handle/10070/248388}

Parent handle

https://hdl.handle.net/10070/826449

Citation address

https://hdl.handle.net/10070/826450

Page content

NT Build - year three at a glance 2007-08 www.ntbuild.com.au info@ntbuild.com.au 3 Actuarial Advice Following an assessment of the schemes estimated outstanding liability, the actuary recommended that $7.6 million be adopted for accounting purposes as at 30 June 2008. Accordingly, that provision has been disclosed on the balance sheet of the Board at 30 June 2008. It is pleasing to note that, while the number of registered workers increased by more than 30% from the previous reporting period, the schemes assets continue to exceed the estimated liabilities. The liabilities of NT Build will be, in the main, longer term Accordingly, in early 2007 the Board implemented an initial investment strategy which embraced a conservative balance of both growth and interest year a total of $4.2 million had been invested with the schemes principal Fund Manager (MLC Implemented Consulting - GWM Adviser Services) to cover the future liabilities of the scheme. During this current reporting period the Board undertook regular reviews of its investment strategy, taking into account the schemes overall investment performance and the volatile global investment climate. As illustrated by the table below, by the end of this current reporting period a further $3.9 million was invested with MLC Implemented Consulting - GWM Adviser Services and a total of $2.8 million was invested with term deposits. The scheme is administered by a Government appointed Board consisting of: Barry Chambers - Independant Chairperson Tony Stubbin - NT Govt. Rep. Joe Gallagher - Employee organisation Rep. Alan Paton - Employee organisation Rep. Dick Guit - Employer organisation Rep. Graham Kemp - Employer organisation Rep. Communications and marketing activities continued to of the scheme. Advertising in newspapers and relevant industry publications and directories; Maintenance of the NT Build website; Production of a range of targeted customer information bulletins and fact sheets; and Delivery of numerous formal and informal presentations to targeted customers, including conducting regional and local site visits and information sessions. During the reporting period NT Build staff provided a industry organisations, such as: Targeted presentations to employer and developer groups; and employers and developers. Presentations to the Board During the reporting period four organisations accepted an invitation to make a presentation to the Board on matters of interest to the effective administration of the scheme. Liaison with other construction industry long service leave schemes As a party to the National Reciprocal Agreement, NT Build continues to liaise with other state and territory construction industry long service leave schemes for registered workers. In addition, NT Build participate in regular meetings with the chief executives and chairpersons of other schemes for the purpose of exchanging ideas on scheme coverage, administrative practices, legislation, investments, and information technology. 1. 2. Board decisions In the course of a total of 26 meetings of the Board: 74 general items of business were resolved, covering a range of issues concerning governance, scheme administration and the NT Build; and Two new policy decision, which related to Fund 2005-06 2006-07 2007-08 TOTAL MLC (GWM) $0 $4.2 M $3.9 M TIO $0 $0 $2.8 M TOTAL $0


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